New Qualification For Scotlands Fund Accountants In The Pipeline

Thu, 13 Aug 2009

Fund accountants in Scotland are to be offered a new fund accounting qualification, put together by some of the country’s big investment operations firms.

Scottish Investment Operations (SIO) is teaming up with the likes of JPMorgan, BNP Paribas, Morgan Stanley, HSBC Securities Services and State Street to develop the new qualification .

The Institute of Chartered Accountants in Scotland and the Chartered Institute of Bankers are also helping create the syllabus, which will involve a wide range of subjects from the fundamentals of accounting transactions to the valuation of more complex products.

The new qualification is being developed in a bid to ensure there's standardisation across the industry and aims to train new entrants to the sector as well as ensuring existing staff are up to date with their skills.

SIO chief executive Alan Thornburrow said: "There's a fairly big need for this. It allows all firms to put staff through the same qualification, rather than training them in-house in a similar fashion, which can often involve a lot of mentoring and therefore duplication of roles."

The SIO fund accounting course is scheduled to launch in early 2010.
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