In the short term, FS qualifications in 12 countries will be benchmarked against EQF level descriptors. €qualifise will test and develop the methodology. We anticipate this will lead to rapid awareness raising regarding learning outcomes, competence and the Copenhagen process among FS qualification/certification/regulator bodies and other sector bodies, institutions of higher learning and their students and in major employers of FS professionals. Individual FS professionals are unlikely to be aware or take much notice during the project, unless there is a call for statutory regulation.

In the long term we expect to move to a learning outcomes-based approach, as the Copenhagen process accelerates and other sectors and the general public become better informed. EQF benchmarking will be incorporated into initial professional training (including apprenticeships, and vocational courses in Higher and Further Education) and continuing professional development.

The EQF will provide a common benchmark to measure qualifications, and thus have a significant integrating effect, especially across borders, contributing substantially to the creation of a single European financial market. This will in turn offer employment flexibility to FS professionals. Employers will enjoy enhanced levels of competence, a larger pool from which to recruit and improved business systems based on competence standards. Equal opportunity practices will improve, making work more pleasant and again increasing the potential employee pool