ndia and Scotland join hands to launch a new finance qualification programme

Updated on: Friday, November 02, 2012

India and Scotland have joined hands to launch an investment accounting diploma that claims to address the gap in qualifications for new and experienced investment and fund accountants.

India and Scotland have joined hands to launch a new finance qualification programme by adopting an industry-made professional qualification developed in Scotland with support from Scottish Development International (SDI).

A joint venture between Scottish Investment Operations (SIO), the Institute of Chartered Accountants of Scotland (ICAS) and the Chartered Bankers Institute of Scotland (CIOBS), the Investment Accounting Diploma was created to address a gap in qualifications for new and experienced investment and fund accountants.

"It will be launched in India to help organisations develop their skills in the growing and competitive area of the banking and financial services industry," Scottish Development International said in statement.

The diploma aims to promote the interests of the investment industry and includes four exams covering the key areas of fund accounting, financial accounting and finance and technical accounting. Each of these units can also be studied on a stand-alone basis.

Mark Dolan,  Scottish Development International Country Manager India  said, "Our education team has worked closely with SIO and ICAS to identify the opportunity to launch the diploma and work with Indian stakeholders and companies in addressing potential skills gaps."

The asset management industry in India grew by 47 per cent annually between 2003 and 2009 when it was worth USD 92 billion.

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