IFA introduces new membership grade to raise international standards

The Institute of Financial Accountants (IFA) and the Institute of Public Accountants (IPA)- the IPA Group, have announced a new membership grade structure, providing a global membership opportunity which aims to set the standard for international best practice. 

Following a review of membership access across the IPA Group, the Intermediate Financial Accountant grade has been introduced as an entry point to its institute membership, providing a pathway towards full membership. Available now, it is aimed at those who are part-qualified and wishing to obtain recognition for what they have successfully achieved in their career, as well as professional body recognition to enhance their standing in the workplace. 

To achieve this grade of membership, applicants must have successfully completed and passed either the Level 4 units of the IFA Direct education programme or an equivalent qualification and have at least one year’s work experience in the accountancy or finance sector.

Those eligible will receive dual membership of the IFA and IPA and can use designatory letters after their name.

John Edwards, CEO of the IFA said: “The new membership grade aims to ensure that we have a cohesive global membership offering, regardless of where somebody is in their career journey or where they are based. It underlines our commitment to providing wider industry access to the many opportunities our membership offers. 

“By introducing this, we hope to set the benchmark for international best practice as we align with our global counterparts. Not only does it support the potential for career development through opportunities with the IFA, but it is also aimed at employers as an employee retention benefit, offering inclusive training and education or professional membership. 

He added: “We have also considered the pathway to direct institute membership and have raised the eligibility criteria required to achieve Associate (AFA) grade and to obtain a practising certificate. Applicants will need a minimum of an accounting and finance degree and a master’s degree equivalent to the IFA Direct programme.” 

Further information

To find out more, visit www.ifa.org.uk/routes or contact Susan Divall, Education Manager at susand@ifa.org.uk or on 020 3567 5836.

New membership grade structure from July 2022