In India, the International Financial Reporting Standards (IFRS) have gained great significance. It is changing the way we cover financial matters and opening up new avenues for financial professionals. Understanding IFRS in India is crucial for accountants, students, and organizations as more and more nations adopt the same accounting standards.
Approximately 80% of Indian businesses already use or intend to utilize IFRS, according to research by the Institute of Chartered Accountants of India (ICAI). Listed companies need to use Ind AS, which is based on IFRS, as mandated by the Securities and Exchange Board of India (SEBI). The requirement for subject-matter expertise increases as a result of this evolution. Hence, the demand for IFRS professionals is continuously increasing. In this blog, we will explore the most in-demand jobs in India, including their roles and responsibilities, and salary insights.
IFRS Diploma: Purpose and Scope
The key objective of the IFRS Diploma is to enhance professional understanding of contemporary international financial reporting.
Additionally, students learn to apply the reporting standards in a multi-sector, dynamic business context. When pursuing the IFRS certification, you get options: either you can do self-study and appear for the exam to obtain the certification, or you can enroll in a professional institute like Mirchawala for a professional guide. You can choose any of them as per your convenience.
To put it simply, a Diploma in IFRS is a simple and effective approach to increase your understanding of the latest developments and trends in financial reporting. The diploma offers a thorough summary of the abilities required for this line of work.
List of IFRS Jobs in India: Key Roles and Responsibilities
Professionals with IFRS certification can easily find jobs in auditing, accounting, compliance, and finance. The various job titles that you can apply for and work well at are listed below.
IFRS Jobs |
Roles and Responsibilities |
| Financial Reporting Executive/ Specialist |
|
| External Auditor | Monitoring a company’s financial status
Disclosing mistakes or irregularities Aids a company in staying vigilant |
| IFRS Analyst/ Junior Accountant |
|
| Finance Controller | Ensuring efficient internal operations
Examining the income and balance sheets of a business Making sure the company abides by all relevant laws and guidelines This role is intended for professionals who have a great deal of industry experience. |
| Finance Manager/ Reporting Manager |
|
| IFRS Expert | Support organizations adhere to international financial reporting standards
Help businesses in expanding their operations globally while adhering to IFRS guidelines. |
| IFRS Consultant/ Advisor |
|
IFRS Salary in India
In India, an IFRS salary ranges from INR 7L to INR 30L, depending on the experience, job roles, city, and employer type. With a diploma in IFRS, financial professionals can look for jobs around the world. Here is a quick list of average salaries on different levels:
- Entry Level: INR 3L – 6L
- Mid Level: INR 7L – 15L
- Senior Level: INR 15L
- Senior Consultant/ CFO: INR 20L – 29L
How Mirchawala Gets You Ready for the Best IFRS Jobs in India?
Mirchawala is the perfect option to go through the IFRS journey. The expert IFRS tutor, Mustafa Mirchawala, and his team strive to educate learners with the best materials and support them throughout the journey. Their extensive and in-depth knowledge of IFRS will guarantee that you leave with both theoretical knowledge and real-world expertise.
Besides the learning journey, as students become ready for the working world, they also get support in exploring the best IFRS jobs, placement options, and more.
Frequently Asked Questions (FAQs)
Q: Is IFRS a good career?
Ans: For those who are interested in accounting and finance, IFRS is an ideal career choice. Financial analysts, auditors, consultants, and accountants are among the best IFRS career opportunities. As international financial reporting standards gain traction, there will probably be a greater need for IFRS competence.
Q: What job can I get after IFRS?
Ans: In India, IFRS covers a wide range of topics, including financial reporting, audits, education, and employment. Following IFRS, a number of job openings arise. You can work as an accountant, financial controller, or IFRS specialist if you’re new to IFRS.
Q: What is the scope of IFRS in India?
Ans: India’s financial landscape is evolving as a result of IFRS adoption, which promotes global harmony, integrity, and investor trust. The need for qualified people is growing as more businesses adopt IFRS standards, hence there are numerous in-demand IFRS jobs in India.
