The International Qualification in Accounting, Management and Financial Analysis: A Resource for National Economy

World countries including the republic of Yemen are heading towards joining the international trade organization, to open doors for international economy, offering a variety of facilities to attract capitals, multinational corporations and international organizations. Which caused a heavy demand on international experts who are internationally certified in accounting, financial analysis, account auditing and revision and project management which enables them to join a membership or fellowship in specialized international professional institutes or associations.

 Necessarily, the unavailability of these kinds of expertise causes foreign corporations, international organizations, private sector and some of the governmental bureaus to import such certificate holders from abroad, which compromises the country nationals from their chances of  various distinctions and attaining high incomes, or reaching higher administrative positions.

One of the most important reasons for this lack of national holders of such international professional qualifications is the lack of awareness regarding the importance of international professional qualifications and not going further than conventional academic local qualifications.

The international qualification in accounting, management and financial analysis is an important complement for academic university curricula,  which gives the basic and general concepts, rules and principles of each specialty, while professional qualification focuses on enabling the individual to use these concepts and rules in practical life, so that his practice becomes a rapid and capable translation for such rules and concepts.

Furthermore, the international professional qualification is considered an expression for the modern concept of management which is the concept of total quality management (TQM) at the level of specialized employees, which means to be able to do the correct action from the first time and each time, so that the employee is distinct by his/her abilities to take decisions and offer advice at the correct timing and desired quality levels.

And as the various corporations and organizations are starting to operate at the era of globalization they developed relations, partnerships and targets which crosses the local borders to reach the international range, so it is becoming more essential for the staff to acquire the adequate academic and professional dose to operate in accord with the new range, so the international qualification is supplying this dose intensively to be versed in the rules of international marketing and financial issues, accounting standards, and international legislations regarding commercial operations. It also turns the learner to an international expert tuned in all the details in his specialty locally and globally, in addition to having a good baseline knowledge in other specialties that interacts indirectly with his work. 

Following are the most important international certificates in accounting and financial analysis:

Certified public accountant CPA:

Awarded by the American institute of public accountants, the holder of this certificate is  specialized in financial accounting and  external auditing, this is the international expert known as certified Accountant Chartered.

Certified management accountant CMA:

Awarded by the American institute of management accountants, the holder of this certificate is specialized in management accounting and monetary management, this is the expert known as the decision maker.

Certified internal auditor CIA:

Awarded by the American institute of  internal auditors, the holder of this certificate is specialized in internal auditing and the analysis of various risks that is challenging the company, this is the international expert known as the shadow of the owners in their corporations and businesses.

Chartered Financial Analyst CFA:

Awarded by the American institute of financial analysts, the holder of this certificate is specialized in financial analysis especially Stock Exchange, this is the financial analyst.

And there are various other international certificates in project management, human resource management and in the analysis and review of information systems, and many more.

Furthermore, this qualification offers the specialist a professional dose mounting to international professionalism. It also spreads the culture of modern management in the community which gives the management of small and large projects and organizations a better experience in handling the economical sets and preparing project plans and budgets, it also enables the community to assimilate the impact of  the global economical dimensions on various local economical changes.

This is one side of the issue, the other side is that this international qualification comprises an important national investment, as it ensures various financial rewards from lowering the costs of importing international expertise, and providing more job opportunities nationally and internationally for high salaries and incomes, which is called transforming human resources to an exportable capital.

* Member of the American Institute of Certified Public Accountants

   Fellow of the Institute of Internal Auditors