About IABFM

Press Releases for the year 2014

Press Releases issued by the Academy, by members and partners in 2008-2009 appear below.

Press Releases generally approved for release on the association websites include:

• News about the membership
• Announcement of events for members and candidates
• News about our members in the press where IABFM™ is mentioned
• Formal announcements
• Tie ups or collaboration with other associations or government bodies
• Changes to the board governance structure

If you have a press-release you would like displayed on the member's website, please submit to [email protected].

IFRS Update. Breaking News

August 8, 2014

“Full convergence on accounting standards is no longer achievable: IASB”

On the 24th July, 2014 the International Accounting Standards Board (IASB) announced that it had completed its third, and final, stage of IFRS 9 Financial Instruments which is mandated for IFRS reporters from 1st January, 2018.  In its press release IASB Chairman, Hans Hoogervorst,  commented:

The reforms introduced by IFRS 9 are much needed improvements to the reporting of financial instruments and are consistent with requests from the G20, the Financial Stability Board and others for a forward-looking approach to loan-loss provisioning.

The new Standard will enhance investor confidence in banks’ balance sheets and the financial system as a whole.

However, IFRS 9 was introduced without the participation of the US Financial Accounting Standards Board (FASB) which had chosen to continue with its existing practice and ignore the convergence principals.  Speaking at the Singapore Accountancy Convention (SAC) on Thursday the 31st July, 2014 Mr Hoogervorst acknowledged that “full  convergence with the United States - leading to the creation of one single set of global accounting standards - is no longer an achievable project”.  He further went on to state:

“It's a pity. Convergence would have allowed the US to make the ultimate jump to IFRS. But nobody can force it to do so; if it wants to stick with US GAAP (Generally Accepted Accounting Principles - the US financial reporting standard), that's its choice. But IFRS moves on - we have a large part of the world to take care of."

Currently there are more than 100 jurisdictions that have adopted the full IFRS and these will continue to be served by the pronouncements of the IASB.  However, the full international acceptance of the IFRS appears, at this stage, to be off the agenda entirely.

The Association of Certified Procurement and Operations Professionals announced today

May 15, 2014

The IABFM and IAPM announced that the process of formation started in January of the Association of Certified Procurement and Operations Professionals (ACPOP) has been finalized. The association brings together all CIPP and CBOP certified professionals by this institution.

LA, Dubai, HK– The International Academy of Business and Financial Management (IABFM) the internationally recognized certifying body for business and finance practitioners, through its Project Management sister organization the International Academy of Project Management (IAPM), announced today the establishment of the association which will function under the umbrella of the IABFM and will bring together thousands of professionals from all around the world that have been awarded the Certified International Procurement Professional (CIPP) and the Certified Business Operations Professional (CBOP) designations in the past.


"The new association will create more concentrated space for our members to discuss issues relevant to procurement, supply chain and operations, as well as much better networking opportunities. In addition, it will serve as an advocate for the interests of the Procurement and operations community globally," said Mr Michael Fletcher who will be heading up the Board of the association.


The ACPOP will take on the responsibility of continuously developing and upgrading the Body of Knowledge for both designations CIPP and CBOP and manage the examination and certification process for the same through its international partners.

Following the globalization trends in professional education, the association will also be open for membership to all CIPS and APICS designated professionals world wide, as well as holders of graduate degrees in Supply Chain and Operations Management. 
The ACPOP will continue the comprehensive offering of short courses in the field of Procurement and Operations through its international educational partners.

The International Academy of Business and Financial Management and its sister institute the International Academy of Project Management are a not-for profit association of business and finance professionals. It is also one of the world’s fastest growing professional associations with more than 200,000 members, associates and affiliates in 145 countries. The IABFM hosts and organizes certification training worldwide and offers exclusive board designations to candidates who meet the highest professional standards and assessment criteria. The IABFM is a certifying Body of a number of professional designations in Finance, Accounting, Risk Management, HR, Asset Management as well as Procurement and Project Management. More info about the ACPOP on www.acpop.org

Notice to the members

February 28, 2014

Dear Members of the IABFM and IAPM

Official Statement from Professor Geoffrey H J Baring, Chief Executive Officer of the International Academy of business and Financial Management (IABFM)

AAFM and IABFM (previously known as IAFM) have reached an agreement in joint consideration of their respective individual intellectual property and trademarks in connection with the certification of professionals and/or educational services related to management and financial training. AAFM is not operated by, sponsored by, endorsed by, or affiliated with IABFM in any way, and IABFM is not operated by, sponsored by, endorsed by, or affiliated with AAFM in any way. AAFM, IABFM, George Mentz, Brett King and Geoffrey Baring agree that all prior statements referring or relating to each other are hereby retracted in their entirety.

Press Release Archive