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Marina Şelaru, Executive Director, ACAP RM

Association of Professional Accountants and Auditors of the Republic of Moldova founded in 1996

5h REPARIS Education Community of Practice Workshop Meeting

May 24 – 25, 2010, Chişinău, Moldova

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Russian language

Certified Public Accountant

Association of Chartered Certified Accountants

Certified General Accountant

Certified International Professional Accountant

АССА

СРА

CGA

CIPA

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CIPA is a unique Russian-language program of accountants certification

Training

Examination

Certification

and awards the certificates:

CAP (Certified Accounting

Practitioner)

CIPA (Certified International

Professional Accountant)

5 Turkmenistan Azerbaijan Belarus

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Requirement CAP CIPA

Exams • Financial Accounting I • Financial Accounting I

• Managerial Accounting I • Managerial Accounting I

• Tax & Law (national) • Tax & Law (national)

• Financial Accounting II

• Managerial Accounting II

• Audit

• Finance

• Management Information Systems

Higher education Required

Job experience 1 year + 3 Years +

Reputation Confirmed by the organization – member of ECCAA

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CIPA Program: Three Components Education

  Standardized courses

  Quality course materials   Certification of trainers and teachers

Examination   Independent   Comprehensive

Certification: two levels   Certified Accounting Practitioner (CAP)   Certified International   Professional Accountant (CIPA)

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CAP/CIPA: Seven Core Accounting Subjects *   Financial Accounting 1 (FA1)   Financial Accounting 2 (FA2)

  Managerial Accounting 1 (MA1)   Managerial Accounting 2 (MA2)

  Finance

  Audit

  Tax & Law * plus: Information Technology (IT)

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Core Accounting Subjects: Delivery Training format: 7 courses, 40-60 hrs each

  Academic format: 7 courses comprise the core of a model accounting curriculum for Higher Education Institutions   Content based IES IFAC, IASB, UNSTAD/ISAR   Self-study/distance learning format: materials

designed so that individuals can prepare for exams

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CIPA: Quality Course Materials

  International textbooks translated into Russian language

  Materials developed by local professionals and trainers and adapted to the region (e.g. Tax & Law for each country)

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CIPA: Examinations

  Comprehensive

  Independent

  Uniform throughout region

  Russian language

  Professionally administered

  Secure

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CIPA-EN: Certified International Professional Accountant - Examination Network

Activities:   Prepare exam content   Administer exams   Grade exams   Maintain records

Independent network founded by ECCAA:   Unique exam provider   International staff (professionals and managers)   Supervised by best experts and organizations

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CAP/CIPA: 2 Levels of Certification

•  Certified Accounting Practitioner (CAP) CAP knows basic accounting, can do the accounting in the company and create all the standard financial reports for the organization, including tax declaration .

•  Certified International Professional Accountant (CIPA) CIPA can analyze accounting information and use professional knowledge in financial management

The aim of those qualifications is to obtain professional acknowledgement in the market not official acknowledgement by the state.

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ECCAA:

 9 years of development  IFAC Acknowledged Regional Grouping since 2005  30 professional associations from 11 countries (former Soviet Union) – 21 full & 9 associates  9 IFAC Members: 6 full and 3 Associates (+ 3 “in waiting list”)  Over 20,000 professionals and almost 8,000 certified by unique CIPA Program

ECCAA Mission:

To serve the public interest, continue to strengthen accountancy profession and promote adherence to high - quality professional standards, set by IFAC, introduce and implement international professional standards and professional ethics and speak out on public interest issues where the profession’s expertise is most relevant.

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Membership:   National professional accounting associations

Activities:

  Support member associations to match IFAC requirements   Promote member associations to adopt CAP/CIPA requirement (or another international certification) for individual members   Advocate use of international standards, principles practices and ethics   Lobby governments in the interest of profession   Supervise CIPA Program and issue CAP/CIPA certificates jointly with member bodies

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Standard study plan (based on IES IFAC/UNCTAD/IFRS )

Procedures are generally in compliance with IFAC requirements

Acknowledged by most respected international professional organizations: market acknowledgement in some countries

Not in English language

Lowest fees compared to other international certification programs

Some countries transferred to IFRS; in Russia the process is started; Tax& Law exam is adapted according to the national law

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Professional Accountants

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CAP Statistics by Country (total of 13190)

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CIPA Statistics by Country (total of 422)

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CIPA RECOGNITION

Achievements:

  ECCAA is recognized by international organizations and governments   ECCAA members – leaders of the accounting profession in their countries

  CIPA program is recognized by business environment and several governments

– In Kazakhstan CIPA level officially recognized for professional accountants, companies from oil and gas sector put CAP or CIPA as requirement level for accountants (British Petroleum, Shevron, etc.)

– In Uzbekistan Deputy Minister of Finance received CAP certificate and from the year 2008 CAP required for every auditor in this country

– In Ukraine ECCAA associate Federation of Agro industry Accountants would like to design specialization based on CIPA but with impact on their special needs

  Certified specialists are required by companies and have higher salaries and positions

  In Moldova CIPA is recognized by Ministry of Finance as exemptions for auditor qualification exam (Order nr.48 as March 31, 2010)

  In Uzbekistan, Azerbaijan CAP exams are translated in local language

  Exam modules Translation for Moldova is in process of negotiation

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Registration for CAP exams - Moldova

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Registration for CIPA exams - Moldova

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CIPA Dinamics – Moldova, 2004- 2009

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CIPA & IES 2

•  I. Accounting, finance &related subjects :covered in CAP/CIPA study

•  (All subjects listed in pp.23 & 24, including ethics are tested in FA 1, 2 & Audit exams)

•  II. Economics & Organization of business: covered in University curricula (University Diploma is obligatory for CIPA level)

•  III. IT: exam in CIPA level

•  Requirements of p.5 IES 2 (intellectual, evaluation, analyses skills) are covered by requesting of “ D” level of competence for CIPA level exams

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CIPA & IES 8 & EU 43 Directive

•  Definition of an “Audit professional” in IES 8: Audit professional is a professional accountant who has a responsibility or

has been delegated responsibility, for significant judgments in an audit historical financial information.

43 EU Directive: •  ch1, p.13. A statutory audit must be carried out by international auditing

standards •  Article 6 Specific Educational requirements. •  Article 7 Exam of Professionalism and knowledge •  Article 8 Must test this knowledge… •  Article 9 A state may exempt a person from testing provided that

they have an excellent background in the knowledge matter. •  Article 10 In addition to the exam, a candidate must have three years

of practical training.

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•  University Diploma •  Master Degree Diploma –(not obligatory) •  3 years work experience, including 2 years under senior auditor supervision •  Initial Level •  Medium level •  Advanced Level •  40 hrs of CPD for auditors (obligatory 20hrs of CPD

courses + credits); •  40 hrs obligatory for CAP/CIPA certified accountants

IES 7 requires CPD training for ALL members of profession, including for non practicing members.

IES 7 & Concept of Continue Professional Education Program Development

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SMO 2 : Challenges & opportunities

Priorities to do: 2010 •  Agreement with Educational Institutes about Educational System (Bologna,

Dublin) and responsibilities (IES1-4, 6 & 8) •  Agreement with Employers (Practice) and COA about Practical Experience

System and responsibilities (IES5) •  Update CPD-system & program (QARP, Ethics, A&A-standards) •  Provide (ttt-)courses for curriculum updates (inclusive with foreign experts) 2009-2011 •  Consult foreign experts on accreditation system (for IESs) •  Provide ttt-courses for Education and Practice 2010-2011 •  Evaluate, monitor, update (PDCA) with Education, Practice, COA

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CIPA Program : Next Steps

2010 Work Strategy:   Monitoring of compliance to requirements of ECCAA members;   Continued work on standards translation;   Single Information System (site, e-mail, publishing)   ECCAA and CIPA Program presentation on the world arena and in

ECCAA work countries

  CIPA Program improvement:   Review of educational program of CIPA level;   Reorganization of examination system;   Publishing of single teaching materials for the CAP level, may be for CIPA;   Approval of a new scheme and of examination dates;   Separation of the exams Taxes and Rights;   Establishing of an additional exam of CIPA level (the cross-cutting task);   Development of national exams (translation into a foreign language, additional

examinations, possibility of different exams in Taxes and Rights);   Involving of elaboration, management and evaluation technology

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ECCA achievements 2010:   IFRSs 2009 translated in Russian & published on IASB web site (free

access). Official versions are provided to all concerned ministries   Updated CAP & CIPA Curricula are introducing for July 2010 exam

session   Start translation in Russian of IFRSs for SMEs and official IFRSs

teaching materials (with support of USAID and Pragma Corporation)   ECCAA approved as presenter at the World Congress of Accountants

2010 in Malaysia (all plenary meetings will be simultaneously translated into Russian)

ECCAA Future development:   ECCAA intention to grow from IFAC Regional Grouping to Regional

Organization   Cooperation with Institute of Chartered Accountants of Scotland

(ICAS)   Improvement of CIPA Program   Enhance CPD and educational process   New projects on partnership and internationalization   Attraction of donors only to separate projects   More member services and on-line resources: each candidate has

personal page on www.capcipa.info ; distance learning, etc.

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THANK YOU FOR your ATTENTION!

CONTACT at mselaru@acap.md Tel. : (+ 373 22) 54 14 12, 54 34 08, 54 14 95 Fax: (+ 373 22) 22 80 65

65, M. Varlaam street, of.434 MD-2012, Chisinau Republic of Moldova

www.acap.md