VANCOUVER, Aug. 16, 2011 /PRNewswire/ - CIBT Education Group Inc. (NYSE AMEX: MBA) (TSX: MBA) ("CIBT Group") is pleased to announce that its wholly owned subsidiary Sprott-Shaw Degree College ("SSDC") has signed an articulation agreement with the Certified General Accountants Association of British Columbia ("CGA-BC").
Currently 5 levels of courses are required to complete the Certified General Accountants ("CGA") designation. This agreement allows SSDC's Bachelor of Business Administration ("BBA") graduates to receive credit recognition for 4 out of the 5 levels.
"In the next two years, publicly traded companies from around the world including those from China, Hong Kong and the European Union will adopt uniform accounting standards called IFRS (International Financial Reporting Standards). Major economic powers, such as China have agreed to implement IFRS. The United States has also agreed to accept the uniform standard," commented Toby Chu, president and CEO, Vice Chairman. "We believe that the development of this global trend will significantly increase the volume of accounting work and demand for accounting personnel with CGA skills will follow. This latest development would allow SSDC to capitalize on this imminent demand. We plan to deploy this program throughout our international network of colleges in various countries, supplemented by our Global Learning Network infrastructure."
About Certified General Acc ountants' Designation:The Certified General Accountants' designation is recognized as a leading Canadian and international accounting designation. There are over 75,000 CGAs and CGA students across the globe. The 15,000 CGAs and CGA student within British Columbia, Canada, represents the largest body of accounting professionals in the province. With the globalization of accounting standards the CGA designation has been gaining an international standing. CGA designations are currently granted in Bermuda, the Caribbean, China, Hong Kong, Mauritius, Mexico, and the Philippines. CGA members are also eligible to readily obtain reputable accounting designations in the largest market driven economies outside of Canada, including the ACCA (recognized globally), CPA Australia, CPA Ireland, and OEC France. About CIBT Ed ucation Group: CIBT Education Group Inc. is an education management company focused on the global education market. Listed on the Toronto Stock Exchange and the NYSE Amex, CIBT Group owns and operates a network of business, technical and language colleges and has cooperative joint programmes at over 70 locations in 18 countries. Its subsidiaries include Sprott-Shaw Community College (established in 1903), Sprott-Shaw Degree College, CIBT School of Business China, and King George International College. Through these subsidiaries, CIBT Group offers Western and Chinese accredited business and management degrees, and programmes in college preparation, automotive maintenance, information technology, hotel management and tourism, English language training, English teacher certification, and other career/vocational training. In addition to its wholly-owned subsidiaries, CIBT Group is the exclusive licensee for the American Hotel & Lodging Educational Institute (AHLEI) in China and the Philippines, and the WyoTech Automotive Institute for China. CIBT Group also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada. ON BEHALF OF THE BOARD OF DIRECTORS