A candidate needs to be a commerce graduate at the minimum (with 3 years of work experience) or a professional like CA, CFA, MBA (with 2+ years of work experience).

IFRS certification course is quite important for you to obtain if you want to pursue a career in managing accounting standards. Both ACCA and ICWAI have their own significance. ACCA is the association that specializes basically in IFRS and other accounting roles. ICWAI specialized in IND-AS, management accounting, and costing. Both have their own significance and are different from one another.

But as per the experts are concerned, the ACCA international finance reporting standards course is much more standardized based upon the demands of MNCs.

Here are few benefits which a Diploma holder in IFRS enjoys:

Demand in industry: IFRS qualified professionals are in high demand in MNCs and Big 4s which prefer people with international certifications.  They are preferred across the globe because of their expertise in area of accounts. 

Career Development: IFRS Diploma gives commitment to the professional for a successful career and highlight their potential for appropriate roles. 

Better salary package: Many people consider salary package as potential criteria while choosing a career. IFRS Diploma gives you opportunity to earn more than a normal accountant by proving your expertise in the field of accounts.

GAAP (Generally Accepted Accounting Principles) is a set of accounting standards used in the United States, while IFRS is used in most other countries. While there are many similarities between the two sets of standards, there are also significant differences in certain areas

Diploma in IFRS qualified professionals are offered salary of INR 5 to 6 lakhs per annum as per market survey.

As a qualified CA, obtaining a diploma in IFRS can provide you with an additional qualification in accounting this will not only increase your employability score, but it will also provide you with some incredible credentials.

More importantly, the diploma program provides a comprehensive exposure to IFRS, which is not properly included in the CA curriculum. This can enhance your knowledge and understanding of international accounting standards, making you a more well-rounded and informed professional.

Some of the key principles of IFRS include the principle of substance over form, which requires that transactions be recorded based on their economic substance rather than their legal form, and the principle of fair value, which requires that assets and liabilities be valued at their current market value

With a CA under your belt, DipIFR offers an additional qualification in accounting. This may increase your employability score marginally – but not by much.

More important is the fact that it gives a comprehensive exposure to IFRS, which is not there’s in the CA course currently.

Auditors play a critical role in ensuring that companies are following IFRS standards in their financial reporting. They are responsible for reviewing a company’s financial statements and assessing whether they are in compliance with IFRS standards