International Accounting Certification in the Russian Language: A Case Study

Abstract

The 15 former Soviet republics (CIS) all have their own national accounting and auditing certifications. They have been evolving in different directions since the break up of the Soviet Union. But they have at least one thing in common - their certifications are not held in high regard beyond their borders, and perhaps even within their own borders. Several internationally recognized certification bodies have tried to fill the market need by offering their exams within the borders of the CIS, but these attempts have been only partially successful. Because these international certification exams are offered only in the English language, the majority of accountants in the CIS are not able to take advantage of these exams. Until recently, non-English speaking accountants within the CIS had no alternatives other than their national exams, which were not held in high regard even within their borders. This situation is beginning to change. A few years ago a series of examinations based on the accounting principles used in the developed market economies was introduced in several former Soviet republics. These exams were offered in the Russian language, thus offering non-English speaking accountants an opportunity to earn a certification based on internationally recognized accounting principles. This paper reports on this movement.

Keywords: accounting certification, Russian, Russia, Central Asia, Ukraine, Moldova, CIS, NIS, Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan, Turkmenistan

JEL Classification: I2, J44, P2, M41, M49