Following a series of assessments by the Institute of Chartered Accountants in England and Wales (ICAEW), which focused on the training and development infrastructure, the breadth and depth of work tasks and job responsibilities, and the qualifications of the professional accountants employed by the Treasury of the Republic of Cyprus, the latter has been awarded Authorised Training Employer (ATE) accreditation.
According to ICAEW, Authorised Training Employers are “recognised for their commitment to student training and development”’ while the accreditation itself helps instill confidence because ATEs are authorised by a world leader in the accountancy and finance profession.”
Through its ATE accreditation, the Treasury can now train chartered accountants, by offering them the necessary technical knowledge and work experience to enable them to obtain the ACA qualification and be admitted to ICAEW membership. At the same time, the workforce of the Treasury is being progressively reinforced with trainee professional accountants.
On this issue, the Accountant General, Rea Georgiou, has stated that “This accreditation will contribute to the successful implementation of the Public Financial Management Reform, an initiative that has been undertaken by the Treasury of the Republic of Cyprus, since it will form one of the enablers of the upcoming changes stemming from the Reform.”
Commenting on the Treasury’s ATE accreditation, ICAEW Chief Executive Officer Michael Izza said, “We are delighted to recognize the Treasury of the Republic of Cyprus as an ICAEW Authorised Training Employer, which will enable trainees at the heart of the public financial management of the Cypriot government to gain world-leading technical and ethical skills as ICAEW Chartered Accountants. Technical and ethical excellence at the heart of the government builds trust and accountability, and we are pleased that the Cypriot Treasury joins the UK and other governments around the world in training top finance professionals.”
Source: Gold Magazine (http://www.goldnews.com.cy/en/professional-services/treasury-of-the-republic-awarded-authorised-training-employer-accreditation )