The Association of Certified Chartered Accountants (ACCA) is setting up its first Russian office in Moscow.
ACCA projects manager Muir Brown says that the Association has already filed its registration application with Russian authorities, and hopes that the application will be approved soon. The Association has named Ilya Yuferev, formerly with the Russian Federal Securities Regulator, as head of Russian affairs.
The ACCA has nearly 1,000 students in Russia, and around 200 members, most of whom are Russian nationals. Brown says that increasing demand from Big Five accountancy firms and international companies for ACCA-trained Russian accountants has prompted the Association to establish a permanent presence in Russia.
«We have students in over 150 countries, but we only have representative offices in the bigger markets,» Brown said. «It’s got to the point where we can’t afford not to have an office in Russia.»
The ACCA currently uses British Council-run examination centres in Moscow, St. Petersburg and Vladivostock. Firms and companies that want to train local personnel with the ACCA use ATC International and AT Emile Woolf International training firms.
The ACCA faces competition in Russia from the Chartered Institute of Management Accountants. The ACCA says that American Institute of Certified Public Accountants is considering setting up training programmes for personnel employed by international firms and companies.
Brown has played down CIMA’s presence, saying it cannot realistically compete with the ACCA. But he does admit that the AICPA’s recent arrival in Russia was one of the main reasons behind the ACCA’s decision to open an office in Moscow.