“Unfolding Career Pathways For ACCA Professionals in Saudi Arabia.”
Do you want to build your finance career as an ACCA professional in Saudi Arabia, but are unaware of the career prospects? Firstly, understand that this qualification offers diverse career prospects and international work exposure. Therefore, the number of ACCA career opportunities is enhanced in the global as well as local job markets.
It is one of the very few financial qualifications that focuses on providing aspirants with a secure professional experience. Various factors contribute to the increased demand for the qualification, as well as for ACCA professionals. The primary factor influencing this demand is that these professionals are up-to-date in terms of skills, academic knowledge, regulations, and accounting standards. These skills, knowledge, and other professional qualities enable professionals to get first preference in the practical financial world.
To get more comprehensive details about the roles professionals can take over and their ACCA scope in industries, you may read the blog post ahead.
Best Career Pathways For ACCA Professionals:
ACCA professionals can take over numerous financial roles in Saudi Arabia in diverse industries. Here are the most in-demand ACCA roles:
1: Financial Analyst:
The demand for financial analysts or investment analysts is witnessed in Saudi Arabia’s job market. Many banks, sovereign wealth funds such as the Public Investment Fund (PIF), and investment firms are actively seeking skilled ACCA members to fill this role. Professionals in this role should have proficiency in financial modeling and performance evaluation for large-scale projects.
2: Risk Manager/ Internal Auditor:
ACCA professionals can secure good job opportunities under the titles of internal auditors or risk managers. There is a dire need in multinational corporations, big accounting firms, and the public sector for such professionals with a good understanding of risk compliance as well as expertise in governance.
3: Management Accountant/ Cost Accountant:
The demand for skilled and proficient management and financial accountants has been increasing in the Saudi job market. These professionals are sought in the manufacturing, energy, construction, and retail sectors. To take over such professional roles, you should be good at cost control, especially during business expansion.
4: Chief Financial Officer:
ACCA members can also secure top professional positions in the financial world, such as CFO and finance director in SMEs, MNEs, etc, depending on their expertise and professional history. To take over such a strategic executive-level role candidate should have strong analytical skills as well.
5: External Auditor/ Audit Manager:
The demand for external auditors has been increasing in the job market; Big Four accounting firms and mid-tier firms seek ACCA professionals for this role. Proficiency in IFRS as well as local auditing standards is essential to stay competent for this role.
6: Regulatory and Compliance Officer:
ACCA professionals can also continue their careers as regulatory and compliance officers in financial institutions, healthcare, and Fintech companies. Their role is to ensure that regulatory compliance is being enforced by the SAMA and CMA.
7: TAX Advisor:
Job opportunities for tax advisors, tax consultants, or VAT consultants are easily available in Saudi Arabia’s job market. ACCA professionals can work with consulting firms and internal corporate tax teams as tax advisors. In the modern financial world, tax consultancy has become crucial as society is becoming more concerned about the laws and regulations of the country.
8: Business Consultant:
ACCA members can also work professionally under the title of business consultant or strategy advisor in consultancy firms. The analytical and business modeling skills taught by ACCA help you in staying relevant to this role.
9: Financial Controller/ Report Manager:
Holding companies and large organizations look for skilled ACCA professionals to take over the role of financial controller and report managers. As ESG reporting and the importance of IFRS are becoming prominent, companies are valuing professionals who have expertise in these skills.
Benefits of Being an ACCA Professional in Saudi Arabia:
- These professionals have high salary potential in comparison to other candidates (depending on skills, experience, and role)
- ACCA professionals can work with big corporations and MNEs because of the global recognition of the qualification.
- They have a progressive career and can have fast-track promotions.
- ACCA members have global mobility, which allows them to expand their careers abroad if they have a good career opportunity.
- The demand for IFRS and VAT expertise is increasing, whereas ACCA members are already skilled in it.
- CPD allows these professionals to grow professionally by equipping them with all the updated trends in the financial world.
Conclusion:
Therefore, it is concluded that ACCA members can have great career opportunities and diverse professional pathways in Saudi Arabia. They can avail several job opportunities from different sectors and industries; professionals can choose the path that leads them to their dream careers. Other than the local job opportunities, these professionals also have a great scope in the international job market. Some of the career paths for ACCA professionals in Saudi Arabia include financial analysts, financial managers, accountants, tax consultants, auditors, risk managers, etc. If you want a financial career that offers diverse professional pathways, ACCA in Saudi Arabia can be an ideal qualification for you.
Frequently Asked Questions (FAQs)
Q1: What enables ACCA members to have diverse career pathways?
Ans: The ACCA qualification equips aspirants with comprehensive academic knowledge and trains them with diverse technical, analytical, professional, and ethical skills, which enables them to have diverse career pathways.
Q2: What are the essential tips for ACCA professionals to stay competent in the job market?
Ans: To stay competent in the job market, ACCA members are advised to:
- Follow CPD requirements
- and stay updated with changes in regulations.
- Adapt modern developments in the financial sector.
- Gain additional certifications to enhance their professional worth.
