2014-2016 IAESB Strategy and Work Plan

  • 2014-2016 IAESB Strategy and Work Plan

    Project Status



    David McPeak

    Task Force

    Professor Peter Wolnizer (Chair) 

    Saleem Kharwa (Deputy Chair)

    Thomas Orth

    Eileen Walsh

    Dennis Reigle

    Chris Austin                                                                                

    Edward Kieswetter

    Professor Aileen Walsh (CAG Chair; Observer)

    Objective(s) of project

    To set the direction and priorities for activities and projects of the International Accounting Education Standards Board (IAESB) for the three year period, 2014-2016.


    To support IFAC's members and associates in enhancing the level of competence of their members and in promoting a strong ethical culture within the accountancy profession.


    At the March 2012 meeting, it was agreed that the project should commence with the aim of developing a plan to assist the IAESB in supporting its strategic objectives. The current plan focuses on the revision and redrafting of the suite of 8 International Education Standards (IESs), the development of guidance for adoption and implementation of IESs, and improving communications to increase awareness of the IESs.. This strategic plan is set to expire at the end December 2013.


    Issues that this project will address include:

    • Establish and revise IESs, develop guidance, and assess the need for future IESs.
    • Engage stakeholders and promote the adoption and endorsement of the revised IESs
    • Support the implementation of the revised IESs;

    Task Force progress / Board discussions to date

    IAESB Meetings:

    June 2013: The IAESB received a revised version of the 2014-2016 IAESB Strategy and Work Plan (SWP) and an Issues paper that identified significant issues resulting from the drafting of revised version of the SWP. The IAESB’s discussions of these issues covered:  strategic priorities, IAESB activities and projects, and drafting issues to improve clarity. More specifically, the IAESB agreed with the Steering Committee’s proposals on: including the three strategic priorities identified, subject to rewording the priority on adoption to reflect the need to engage stakeholders on the adoption of the education standards; reorganizing communications activities and including them under the projects for implementation and adoption; prioritizing the existing practice statements according to the greatest need for implementation guidance for a given IES; facilitating the translation process of the revised IESs where feasible; including the facilitation of translation in adoption activities and giving it a high priority; reorganizing activities related to reviewing work of the Compliance Advisory Panel on action plans of member bodies to be included in the area of implementation; including guidance on the implementation of learning outcomes for IESs 2, 3, and 4 in the existing project on implementation guidance for learning outcomes; and amending paragraph 5 of the revised draft to indicate that Board’s work is expected to impact the quality of professional accounting education globally so as to enhance the competence of professional accountants and improve the public confidence in financial and non-financial information. Following a full discussion of significant issues resulting from the April 30th teleconference discussion with the IAESB CAG and a page-by-page editorial review of the revised IAESB 2014-2016 Strategy and Work Plan, the IAESB approved the content of the exposure draft for release to obtain public comment.

    March 2013:  The IAESB reviewed the first draft of the IAESB 2014-2016 Strategy and Work Plan and discussed comments received from the IAESB Consultative Advisory Group (CAG). This review resulted in IAESB members requesting that content changes should be made to the document’s Statement of Higher Purpose, strategic priorities, and the proposed list of activities and projects. In addition, the IAESB directed the Steering Committee to consult on the proposed content and drafting changes with the IAESB CAG at its April teleconference and then to develop a revised draft of the IAESB 2014-2016 Strategy and Work Plan for discussion at the June 2012 meeting with the aim of approving the document for exposure so as to obtain public comments.

    October 2012:  The IAESB reviewed and discussed the findings from consultation surveys of the public, IAESB Consultative Advisory Group (CAG), and targeted stakeholders interested in professional accounting education. As a result of this discussion the IAESB narrowed emerging educational issues and trends, strategic priorities, and possible projects and activities for its next strategic plan. The IAESB steering committee will consult with the IAESB CAG at its February 2013 meeting on the results of IAESB’s deliberations and then prepare a first draft of 2014-2016 Strategy and Work Plan for discussion by the Board at its March 2013 meeting.

    June 2012: The IAESB received an Issues paper that assisted members to identify emerging education issues and trends, as well as develop some preliminary views on strategic priorities with the aim of consulting on their importance and significance with the public and stakeholders interested in professional accounting education. The IAESB agreed a 60-day consultation period during quarter 2 of 2012. The IAESB steering committee will prepare an analysis of findings from the public consultations for further discussion on strategic planning issues by the IAESB CAG at its September meeting and the IAESB at its October 2012 meeting.

    March 2012:  The IAESB responded to an Issues paper that identified issues relating to (i) the awareness of the IAESB’s work and pronouncements, as well as (ii) the right balance of projects and activities in preparing the strategy and work plan. The IAESB steering committee will prepare an Issues paper for further discussion on these issues by the Board at its June 2012 meeting.


    Next Steps

    April 2014Meeting: At its April meeting, the IAESB will analyze respondents’ comment letters and discuss the Steering Committee’s proposals to dispose respondents’ comments.