Joint Accreditation Programme Launched by UNWE, ICAEW and IDES

Friday, 28 October 2016 16:55

At the British Ambassador's Residence in Sofia on 27 October, the University of National and World Economy (UNWE), the Institute of Certified Public Accountants in Bulgaria (IDES) and the Institute of Chartered Accountants in England and Wales (ICAEW) formally launched the Joint Accreditation Programme. The Programme formalises and builds further upon a long-standing cooperation between UNWE, ICAEW and IDES. While retaining their distinct qualifications, the three partners will align as far as possible their qualification requirements and combine their expertise. Through the agreement of specific credits, UNWE students will have new opportunities to develop their knowledge and skills as well as to enhance their career opportunities by pursuing the ICAEW Associate Chartered Accountant (ACA) qualification and the Certified Public Accountant (CPA) qualification of IDES for statutory audit rights in Bulgaria. Within the framework of this cooperation, UNWE will introduce a new Master`s degree in Accountancy, Finance and Financial Control, drawing on the curricula and assessments of ICAEW.

The Rector of UNWE Prof. DSc.(Econ.) Statty Stattev declared at the launch that this three-party initiative will enhance still further the international profile of education in Accountancy, Finance and Financial Control at the UNWE. The Rector confirmed that admission to the new Master`s degree programme will begin in the next academic year.

Prof. DSc.(Econ.) Statty Stattev

In the first part of the event, the many advantages of the Joint Accreditation Programme were set out. The Dean of the Finance and Accountancy Faculty Prof. Dr. Snezhana Basheva outlined the multifaceted value added of the initiative – for students, the profession, business and the wider society. The specific objectives were presented in detail by Dr. Martin Manuzi, Europe Regional Director (ICAEW), Valia Iordanova, CPA, Vice-President (IDES) and Chief Assist. Prof. Dr. Michael Musov, Scientific Secretary of the Accountancy and Analysis Department (UNWE).

Dr. Martin Manuzi

Valia Iordanova, CPA

It was confirmed that cooperation between the three partners has resulted in significant alignment and important credits which students and employers can benefit from. Graduates from UNWE Bachelor`s Degree in Accountancy, Finance and Financial Control have credits enabling them to proceed to the final IDES written examinations for the CPA qualification. In parallel, graduates of relevant UNWE Bachelor`s Degrees receive credits for the first six modules of the ICAEW ACA qualification. Through an agreed workstream under the Joint Accreditation Programme, ICAEW will provide expert support in the design of syllabus and forms of assessment for UNWE’s 2017 new Master’s Degree and for the final IDES examinations. Further credits between the respective qualifications are expected and will be confirmed in due course. This workstream will be led by Dr David Brookfield, a senior moderator of the ICAEW ACA qualification.

It was also noted that the Commission for Public Oversight of Statutory Auditors has expressed support for the Joint Accreditation Programme, given anticipated benefits in the qualification for statutory auditors in Bulgaria. Emphasis was also placed on the benefits of combining international best practices with a revised approach to national content as well as on the removal of duplication in the education process. This is all to the benefit of students and employers, as well as of wider society.

During the event. In the first row (from the left to the right): Prof. Dr. Snezhana Basheva, Prof. D.Sc.(Econ.) Statty Stattev and Mr. Boyko Kostov. In the second row in the middle: Prof. Dr. Stoyan Stoyanov, Professor Emeritus of UNWE

The second part of the event was a Seminar on the “Future Professionals and Future Professionalism”. There was a panel discussion on the most important competencies and values new professionals will need to operate in the changing market environment and in light of regulatory and technological developments. During the panel discussion Tzvetan Tzvetkov, President of the Bulgarian National Audit Office and Sylvia Peneva, Managing Partner for Deloitte Bulgaria presented the views of the public sector and business.

Dr. Martin Manuzi, Mr. Tzvetan Tzvetkov, Chief Assist. Prof. Dr. Michael Musov, Mrs. Siyvia Peneva and Mrs. Valia Iordanova (from the left to the right)

Mr. Boyko Kostov, President of IDES expressed strong support for the initiative, noting that professional organisations should not only have high requirements with regard to knowledge, skills and competences of new entrants to the profession; they should also take active part in the preparation of future professionals even during the qualification process. The Joint Accreditation Programme will enhance the ability of IDES to do so.

Boyko Kostov, CPA

In a closing address, Deputy-Head of Mission, Sarah Riley, expressed the support of the British Embassy for this innovative partnership, noting the key importance to wider society as well as to business and the public sector.

Dr. Manuzi, Prof. Dr. Basheva and Mr. Kostov (from the left to the right)

Click to download the Joint Accreditation Programme’s presentation.

For further information on the Joint Accreditation Programme and the qualifications, please contact: Prof. Dr. Stoyan Stoyanov, Professor Emeritus of UNWE – ssrisodit@abv.bg or Chief Assit. Prof. Dr. Michael Musov – mihailmusov@abv.bg.

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