Institute of Financial Accountants (IFA)

The Institute of Financial Accountants, a group of professional accountants with international recognition, was founded in 1916. They are a member of International Federation of Accountants (IFAC), the global standard-setter and regulator of accounting, as well as a member of The Institute of Public Accountants (IPA) of Australia Group, the largest SME-focused accountancy organization in the world with more than 40 000 members and students worldwide. All IFA members must annually engage in appropriate continuing professional development (CPD) activities that is pertinent to their position and career in order to uphold the highest professional and technical standards. Every year during the membership renewal process, all members must submit a CPD declaration to prove their commitment. All members must complete 40 hours of CPD annually, of which 20 hours must be verified, excluding those who are exempt from the requirement. The IFA selects a random sample of members each year to verify that they have met the CPD requirements of the organization. Members who are chosen will be required to submit supporting documentation and a record of their CPD activities.