While all politics may be local, in the 21st century all business is international. After all, in a world where shoes may be made in Sri Lanka, sold by a broker in Singapore and shipped to New Zealand (on a cargo ship registered in Panama), information about international regulations has taken center stage. Information is especially powerful now, given the continuing uncertainty plaguing world markets in the wake of the 2008 financial crisis. Thus, in this era where up-to-date and accurate information about the developments in international financial is so valuable, two new services have stepped in to fill the gap.
In response to the rise in demand for certified international financial analysts, organizations around the world have begun to offer certificates in International Financial Reporting. Uniquely, however, Cambridge ESOL alone has introduced its International Certificate in Financial English as a means of certifying the English proficiency of those would-be international financiers. The ICFE exam is designed shows that qualified candidates possess the advanced English language skills necessary to work in the international business community. This certificate comes as a welcome relief to businesses looking for a clear measurement of communicative ability.
At the same time, another new service, this time from BNA International, hopes to provide still more transparency. Their soon-to-be released International Financial Regulation Review will answer pressing questions about the cross-border implications of new financial initiatives such as the Dodd-Frank Bill, the EU’s Basel III, or the Volcker Rule. Led by one of the world’s leading experts in comparative and cross-border law, Phillip Wood, the International Financial Regulation Review will draw on a global network of experts to more fully understand legislative developments and anticipate changes. For example, it will provide essential information on recent and forthcoming international changes in regulations as well as provide comparative analysis to help consumers understand recent and forthcoming developments around the world.
In a way, then, even if neither services has fully succeeded in making international business truly local they have succeed in making them that much more accessible.