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ICFE • International Certificate in Financial English

http://www.ukba.homeoffice.gov.uk/

http://hr.examination-services.org/

Accountancy has become an international profession alongside global finance and business. Developments such as International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) are establishing globally-recognised frameworks for financial reporting, providing professional accountants with the opportunity to pursue international career opportunities. It is therefore essential for individuals who wish to succeed in the global business arena to possess first-rate English language skills in order to be able to communicate effectively with accounting and finance professionals within the international business community. The ICFE certificate, which has been developed by Cambridge ESOL in partnership with ACCA (the Association of Chartered Certified Accountants), the largest and fastest-growing global accountancy body, proves that it’s holder is able to do that.

Who is ICFE for?

Who will recognise the exam?

The test

Dates, grading and results

Registration

Who is ICFE for?

Cambridge ICFE is suitable for:

a) students of finance and accounting who are:

actively seeking employment in a finance context, e.g. accounting firms, company
departments, and government agencies
intending to study finance or accounting where the course includes significant English language content, either in their own country or abroad

b) practising accountants and finance professionals who are:

seeking new employment in an international context
seeking promotion within their own organisations
learning English as part of a training programme
seeking certification to demonstrate their English-language proficiency in a finance or accounting context

Cambridge ICFE can be used as a valuable recruitment tool to help employers with the selection process and training of their people. Employers can be confident that any employee who has passed the Cambridge ICFE exam will be capable of working in an international finance context as they will possess high levels of English language and an understanding of the kind of language used in a demanding, fast-moving profession.

Who will recognise the exam?

The certificates awarded by Cambridge ESOL are recognised by thousands of educational organisations and employers throughout the world as reliable evidence of the level of English the learner has achieved. Cambridge ESOL and ACCA are working towards obtaining recognition for ICFE from professional accountancy bodies, educational organisations, private sector employers and governmental institutions.

The test

ICFE is set at levels B2 and C1 of the Common European Framework for Languages (CEFR) and assesses language skills in the context of finance and accounting. Students who decide to take this exam are expected to be familiar with some finance and accountancy concepts and terminology.

ICFE has four papers: test of Reading, Writing, Listening and Speaking.

Test of Reading – 1h 15 min

Test of Writing – 1h 15 min

Test of Listening – 40 min

Test of Speaking – 16 min

The exam assesses candidates' ability to understand spoken and written English in a number of realistic contexts of the kind accounting and finance practitioners are likely to encounter in their daily working lives.

spoken texts include: accounting and finance presentations, lectures, discussions and interviews
written texts include: international accounting and auditing standards, corporate documentation, financial reports and sets of financial accounts
writing tasks are based on the kinds of skills needed in the accounting and finance working environment, e.g. the ability to write letters, reports and proposals in an accounting and finance context
the Speaking tasks assess speaking skills in relation to the accounting and finance working environment and will be conducted by trained oral examiners

Topics covered:

Financial Reporting
Company Financial Strategy
Risk Assessment and Analysis
Banking
Insurance
Investment Banking
Ethics and Professionalism
Debt-Recovery and Credit Policy
Accounting Software Packages
Auditing
Forensic Accounting
Assets and Company Valuations
Budgetary Processes
Corporate Governance
Cost and Management Accounting
Bankruptcy
Acquisitions and Mergers
Environmental and Sustainability Issues

Dates, grading and results

ICFE is administered twice a year – in May and November.

To view the dates and registration deadlines, please click here.

Test results are normally reported within 6 weeks of the test date. Depending on their performance candidates who pass the exam receive either a B2 or C1 certificate.

Preparation

Check this site for preparation materials.
Teaching resources are also available from Cambridge ESOL.

Registration

In order to register please click here.

You can also pay using our WEB SHOP. Please note that the Entry Form and the proof of payment must reach the British Council by the registration deadline.

The exam fee is 1000,00 kn.

For more information on ICFE please visit www.financialenglish.org or contact us at the British Council.

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