“WHY IS IFRS CERTIFICATION A GAME-CHANGER FOR FINANCE PROFESSIONALS IN THE UAE?”
IFRS is a globally recognized certification providing detailed international financial reporting understanding and skills; expertise in this is no longer an add-on for finance professionals but a necessity. IFRS certification in the UAE is pretty much hyped up as companies in the UAE are legally bound to comply with IFRS standards; therefore, employers from diverse industries actively seek skilled finance professionals with expertise in these standards. The IFRS certification in the UAE on your professional profile not only serves as an added skill but also enhances your worth in the job market.
There are numerous professional benefits that tag along with this certification, from increased local career opportunities to global working exposure; hence, ACCA and other advanced professional accounting qualifications encourage students to take this certification. The hype of this certification is totally worth it, and it is expected to grow more in the near future as it is steadily becoming a norm in the financial sector. Want to know what makes IFRS certification in Dubai so attractive for aspirants and professionals? Let’s dive into the comprehensive blog to find the answer.
WHY IS IT VALUABLE IN THE UAE?
Let’s break down the core reasons why IFRS certification in the UAE is so popular amongst employers, professionals, and students.
1: IFRS IS MANDATORY:
In the UAE, all listed companies/ private firms must comply with IFRS; according to the UAE commercial companies law, all the financial statements of a company should be prepared in accordance with IFRS. This means companies need skilled professionals with expertise in IFRS to understand, comply with, and prepare financial reports/ statements in accordance with it.
2: HIGHLY VALUED SKILL:
The growing business hub of Dubai and the fact that law mandates compliance with these standards in the UAE go hand-in-hand; companies seek professionals who are proficient in these skills. Hence, such a situation is favourable for professionals who are well-equipped with all the IFRS skills, as they remain competent in the job market; if you have an IFRS certification in the UAE, many employers, including big corporations, multinationals, financial institutions, and audit firms, offer you a competitive edge by giving preference over other candidates.
3: GLOBAL JOB MOBILITY:
Expertise and comprehensive understanding of IFRS are valued not only locally but globally, and the IFRS certification in Dubai is an internationally recognized credential; hence, employers from all over the world value professionals with proficiency in IFRS, and this leads to international job mobility for the candidates; finance and accounting professionals can avail international job opportunities with IFRS certification and build a finance career abroad.
4: ENHANCED CAREER GROWTH:
IFRS certification in the UAE is valued and well-considered by employers; it increases your credibility and marketability, hence, it can result in career growth and better potential salaries. With this certification, you can switch your role by availing an opportunity that offers better career prospects and financial stability; professionals can also become eligible for higher-level and better-paying jobs, such as financial manager, financial analyst, IFRS consultant, etc.
5: COMPLIANCE AND REPORTING ACCURACY:
In-depth knowledge about IFRS ensures that you comply with all the regulations, avoid any errors, and maintain accuracy; all this is quite helpful in earning investors’ trust and confidence. Through these skills, your financial accuracy and transparency remain intact, which is the demand of all financial sectors.
6: BRIDGES THE GAP FOR NON-IFRS BACKGROUNDS:
The IFRS certification in the UAE is mainly designed for professionals who are from non-IFRS backgrounds; the certification allows them to stay relevant in the market by getting comprehensive insights into the essential International Financial Reporting Standards. This way, the professionals with multiple accounting qualifications can avail themselves of this opportunity and become competent for roles that require an understanding of IFRS.
7: RELATIVELY QUICK AND AFFORDABLE:
In comparison to other certifications and courses, the IFRS certification in the UAE is more affordable and quicker; the DipIFR takes almost 3-6 months to get completed, which is a fair amount of time. Other than that, the certification can be completed through online learning platforms, which ensures its easy accessibility and affordability.
CONCLUSION:
Indeed, IFRS certification in the UAE can add much value to your finance career. It equips you with all the knowledge and skills that are vital to grow in the UAE’s financial world; the expertise offered through this certification holds great value amongst employers, resulting in better opportunities, enhanced career prospects, and higher potential salaries for professionals; for those of you who are finance professionals in Dubai, thinking about enhancing your skillset, do consider this certification.
FREQUENTLY ASKED QUESTIONS (FAQs)
Q1: For which roles does IFRS certification prove to be beneficial?
Ans: All the finance professionals should have a good understanding of IFRS; however, this expertise is more essential if you are an accountant, auditor, finance manager, or controller, or someone looking forward to working in an MNE, etc.
Q2: What is the difficulty level of the IFRS exam in Dubai?
Ans: Honestly, the difficulty level solely depends on how well an individual is prepared and what their academic background is; the exam is scenario-based; hence, aspirants with good analytical skills can ace it easily.
Q3: What are the key career benefits I get after having IFRS certification in the UAE?
Ans: By getting an IFRS certification in the UAE, you get many career benefits, such as enhanced career opportunities, better salary potential, a boost in your credibility, etc.
