AFP is making major strides in the Asia-Pacific (APAC) region, having reached two major milestones in the month of June. The association announced a formal partnership in Myanmar with Matrix Institute of Professionals, and exempted Chartered Financial Analysts from taking the first part of the Certified Corporate Financial Planning and Analysis (FP&A) exam.
MATRIX INSTITUTE PARTNERSHIP
AFP and Matrix Institute of Professionals have joined forces to offer exam preparation courses for treasury and finance professionals based in Myanmar. The courses will equip financial professionals with the tools they need to earn the Certified Corporate Financial Planning and Analysis (FP&A) Professional and the Certified Treasury Professional (CTP) certifications.
By partnering together, AFP and Matrix Institute of Professionals are providing practitioners in Myanmar with a new path to earn each of these prestigious designations. Each student will have access to the preparation program, plus a blended learning course taught by Matrix Institute’s local instructors.
“This collaboration with Matrix Institute of Professionals was ideal as AFP seeks to help financial professionals throughout the Asia-Pacific region be successful,” said Himashi Soriano, Managing Director, APAC. “This path to earning AFP’s dual certifications will help practitioners throughout Myanmar distinguish themselves among their peers.”
“We believe Myanmar Accounting and Finance Professionals now have access to a highly regarded professional credentials from AFP and Continuing Professional Development path to advance their careers. We aim to produce highly qualified Myanmar finance professionals for the growing corporate environment, and introduction of FP&A and Treasury designations is a great initial step,” said Min Han Tun, Co-Founder and Academic Director of Matrix Institute of Professionals.
CFA WAIVER PROGRAM
Holders of the Chartered Financial Analyst (CFA) credential are permitted to waive Part I of the Certified Corporate Financial Planning and Analysis (FP&A) Professional Exam. CFAs join Certified Public Accountants USA (CPAs), Certified Management Accountants (CMAs) and Certified Treasury Professionals (CTPs) in being eligible.
In 2019, AFP reformatted both parts of the FP&A Exam to new FP&A test specifications. Part I of the exam focuses on fundamental knowledge in finance, accounting and forecasting—fundamental knowledge also tested on the above certification and licensing exams. AFP determined the fundamental knowledge exhibited by holding the CFA, CPA, CMA, or CTP credentials is sufficiently comparable to passing Part I of the FP&A exam.
Part II of the exam takes that fundamental knowledge and applies it to FP&A, testing the ability to convert that knowledge into building, interpreting and communicating financial projections through various techniques. Therefore, holders of the other certifications will still need to take this portion of the exam.
“While the other exams are not exact duplicates of the first part of our FP&A exam, they do test the fundamental knowledge that we require to achieve the certification,” said Jim Kaitz, president and CEO of AFP. “By waiving that portion of the exam to these practitioners, we ensure that all FP&A credential holders are held to the same standards.”