Frequently asked questions

Follow the links below to view the answers to frequently asked questions about IFRS.

Learning materials

Online assessment

General

Learning materials

Who is the programme designed for?

Preparers and users of financial statements and information need to understand and apply international accounting and reporting standards ahead of and in the early stages of implementation. 

The impact of IFRS will not be restricted to accountants and will affect many sectors including banking, investment, commerce and industry. The programme is suitable for those working in a wide range of financial roles.

How many levels are there to the programme?

The Certificate level is the only stage to the IFRS learning and assessment programme and is a comprehensive course requiring an estimated 70 hours of study to complete.

What choice of learning materials do I have?

There is a printed manual which gives an overview of all current international financial reporting standards. The manual is complemented by the interactive online learning environment.

The interactive online learning environment includes an overview of all current international financial reporting standards, illustrations and self-test questions and answers to help you learn how to apply the standards. 

The self-test questions are similar to those that appear in the assessment, focusing on individual IFRS standards for you to test your readiness for the actual assessment. The online assessment is available once you have completed the programme.

This learning format permits study from both a hard copy text and computer-based work.

How do the learning materials add to the knowledge a student would gain by only studying the standards?

The learning materials give an overview of the international standards in a user friendly way. They take the accounting-speak out of the standards and put them into general business language. The manual condenses some 2,250 pages of the IASB's IFRS text into a manageable book without losing understanding. All materials have examples and extracts throughout to ensure maximum understanding of the standards.

Why should I choose this programme – how does it differ from others on the market?

The ICAEW’s IFRS Certificate is one of the most comprehensive programmes available and is respected worldwide.

How can I purchase the learning materials?

You can do this online at Gillards. A variety of payment options are available.

If I would like to purchase the materials for a group of individuals or on behalf of an organisation, are there any discounts available and who do I need to contact to arrange this?

Group discounts are available and should be discussed with our business development team. In the first instance, please contact our client services helpline on +44 (0) 1908 248 293.

Corporate enquiries can be directed through the Contact Us area.

Are there any taught programmes or trainer-led sessions to prepare for the assessment?

To assist you in your studies, IASeminars, BPP Professional Education and Kaplan Financial run a variety of ‘introduction to IFRS’ courses based on the ICAEW learning materials.

Other IFRS course providers may not base their course content on the ICAEW learning materials.

How do I access the interactive online learning materials?

Full instructions and your unique access code will be emailed to you once you have purchased the learning and assessment programme.

How long do I have online access?

12 months from date of activation.

Who do I contact if I have any problems with the interactive online learning environment?

If you require assistance, please try the ‘Help’ page located on the log in page and in the ‘Online Learning Environment’ menu when you have logged in to the online learning environment. Alternatively, you can send an email to cpdenquiries@bpp.com or call 0845 226 2422.

The system requirements for accessing the online learning environment are as follows:

Authoring

  • Intel Pentium processor or higher
  • Microsoft Windows 98 SE, Windows 2000, and Windows XP (Windows XP preferred)
  • 64 MB free available system RAM to open one application (128 MB recommended)
  • Additional RAM to open multiple applications simultaneously
  • 120 MB hard disk space
  • 800 x 600 monitor resolution and higher

Macintosh

  • Apple PowerMac G3 or higher
  • Apple Mac OS X (10.1.5 or later recommended), or 8.6 or later with Carbon Library
  • Microsoft Internet Explorer 5.0 or later, Netscape 4.0 or later, or Apple Safari
  • 32 MB RAM

When you log into the online learning environment, are you unable to see the modules and/or online assessment?

To access the modules and assessment you may need to download software.
To run the learning modules, you will need the Macromedia Authorware plugin. To access the assessment, you will need Flash player.

If the software it not already installed, an alert will appear to inform you and there will be an option to download the software.

Where can I get the IASB (International Financial Reporting Standards 2008) publication from?

You will need to visit the IASB website for this at www.iasb.org. The ISBN is 978-1-905590-54-4. This text is also obtainable from book stores and online providers such as Amazon, Ottakars and Waterstones.

Online assessment

What is the online assessment format?

The assessment is available online, you will have a limited time of 2 hours to complete the assessment consisting of 60 objective (multiple-choice) questions.

Where do I take the assessment?

The assessment is available through any computer capable of accessing the internet. With your unique code to access the interactive online learning environment, it can be taken anywhere.

Is each assessment different?

Yes. The assessments use a bank of many hundreds of questions which are selected at random in relation to each of the 36 IFRS standards.

What is the recommended study time?

An estimated total study time of 70 hours is required. Depending upon your current state of knowledge and experience, the course may take longer than this.

Is there a formal certificate or certificate of completion?

On successful completion of the online assessment, candidates will be able to download and print a certificate immediately, which demonstrates successful completion of the programme.

I am an ICAEW member on a reduced membership fee due to unemployment - do you offer a further reduction on the learning materials?

No, you will only be eligible for the standard 20% ICAEW member discount.

Are the course contents relatively fixed? Given the course has been recently updated, if I take the course now, how likely is the course to be updated in the future such that the value of my certificate is reduced?

The course contents are currently based upon the IASB's Stable Platform for 2005 updated to March 2008. That is, those standards and interpretations which are mandatory for periods beginning on or after 1 January 2009. 

Is the IFRS certificate programme offered by the ICAEW endorsed by the IASB?

The IASB is aware that a number of educational institutions and professional accountancy organisations are offering courses about IFRS. The IASB does not review the content of such courses, and is not able to recommend courses, or to comment on the quality of any courses offered.

What is the pass mark?

The online assessment pass mark is 70%.

General

Are credits awarded for prior learning?

There are no pre-requisites and no prior learning credits for the IFRS Certificate learning and assessment programme.

What do I do if I want to complain?

Any complaints should be forwarded to IFRS support team at ifrs@icaew.com.

See Also