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Institute of Financial Accountants – IFA

Established in 1916, the Institute of Financial Accountants (IFA) is an internationally recognised professional accountancy membership body. IFA is a full member of the International Federation of Accountants (IFAC) the global accounting standard-setter and regulator. The IFA is part of the Institute of Public Accountants (IPA) of Australia Group, the world’s largest SME-focused accountancy group, with 37,000 members and students in 80 countries.

Become An IFA

IFA provides members with all the necessary tools to operate successfully as Financial Accountants providing compliance and planning expertise to SMEs and IFA is the only professional accountancy body that provides dedicated support to SMEs and SMPs. With IFA, you have a wealth of experience and a streamlined focus that allows you to perform your accountancy duties to the best of your ability.

Routes To Membership

IFA recognises that there are many ways of acquiring knowledge and proving competence so we provide four flexible routes to membership.

1. Achievement of the IFA Direct programme.
2. Achievement of other accountancy qualifications.
3. Recognition of your membership of other accountancy bodies where membership has been achieved through education.
4. Through becoming a Provisional Associate member.

1. IFA Direct

Administered in partnership with CU Coventry, IFA Direct provides a unique, flexible online way to study for those who want:

A direct route to IFA membership.
A direct route to career progression to obtain a practising certificate.
A direct route to professional development through CPD.
The online module approach provides a flexible and modern format. It allows you to study around other commitments regardless of where you are in the world and without having to be away from the workplace.

2. Other accountancy qualifications

You can apply for membership based on your existing accounting, finance and/or taxation qualifications.

Before applying for membership, your qualification should be at least up to and including level 6 covering the following key areas:

• Financial accounting
• Cost accounting
• Budgeting
• Credit management and control
• Principles of taxation
• Management accounting
• Financial reporting
• Financial management
• Law
• Assurance
• Advanced taxation

If you have taken a qualification programme which does not cover these areas we may not be able to offer you AFA or FFA.

3. Recognition of membership of a professional accountancy organisation

Where your membership of another accountancy body has been achieved through qualifications this may be a route through to IFA membership.

Any gaps can be filled by accessing the IFA Direct programme.

As part of your application it is a mandatory requirement to provide:

• evidence of having completed an ethics course or training; and
• having completed a minimum of three years’ work experience in the accountancy industry or a closely related field.
While you are gaining work experience you can become a Provisional Associate member. Upon completion, you can apply to use the IFA designations as well as a practising certificate.

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