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    Aug 31, 2009




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    IAESB eNews

    In this issue:

    1) Call for Comments on Exposure Draft for the IAESB 2010-2012 Strategy and Work Plan
    2) Consultation Expands Range of IES Framework Project
    3) Progress Continues on IAESB Drafting Conventions Initiative
    4) IAESB Chair Engages Academe
    5) The 2009 Handbook of International Education Pronouncements Is Now Available
    6) Progress Report on IAAER/ACCA Education Research

    1. Call for Comments on Exposure Draft for the IAESB 2010-2012 Strategy and Work Plan

    The International Accounting Education Standards Board (IAESB) is seeking comments from IFAC member bodies, regulators, accounting firms, employers, the academic community, and others on the exposure draft (ED) of its 2010-2012 Strategy and Work Plan.

    The proposed strategy focuses on revising International Education Standards (IESs) and developing new guidance for the adoption and implementation of the standards. Through the projects and activities outlined in the proposed plan, the IAESB aims to continue to assist IFAC member bodies in developing the capacity and capability of the global accountancy profession.

    Three high-priority activities described in the ED are:

    • Conduct a revision of the IESs based on the results of the drafting conventions project and recent developments in the accountancy profession;
    • Develop implementation guidance in areas of measurable implementation of the IESs, competency frameworks, and quality control measures for educators; and 
    • Promote a greater awareness of the IAESB's role in advancing international debate on issues related to the development and assessment of professional accountants.

    Organizations and individuals with an interest in accounting education are invited to comment on the IAESB's strategy and work plan by October 5, 2009. The exposure draft may be viewed by going to www.ifac.org/Guidance/EXD-Outstanding.php. To provide a comment, please use the "Submit a Comment" link.

    2. Consultation Expands Range of IES Framework Project

    The IAESB is currently developing a revised draft of the Framework for International Education Standards (Framework) as a result of its public consultation on proposed revisions to the document. The consultation is an important step of an ongoing project to revise the Framework and was conducted by the IAESB during the first two quarters of 2009.

    Based on the review to date, the IAESB plans to expand the Framework by describing the various forms of learning and development that can be used in professional accounting education programs. The revision process will also improve the clarity of the Framework, update sections to reflect the IAESB's experience, and expand on the purpose of the IAESB's standards and guidance.

    The IAESB will confer with its Consultative Advisory Group in the third quarter of 2009. Subject to these discussions, the IAESB expects to approve the Framework for publication in the fourth quarter of 2009. 

    For further information on this initiative, please visit the IAESB's project page on the IFAC website: www.ifac.org/Education/ProjectHistory.php?ProjID=0073

    3. Progress Continues on IAESB Drafting Conventions Initiative

    The IAESB has considered significant comments received on its exposure draft of the Explanatory Memorandum for the IAESB Drafting Conventions. The goal of the project is to develop principles and practices for the drafting of IAESB pronouncements in order to improve their clarity and consistency.

    Topics discussed include:

    • Discontinuing the use of a presumptive requirement;
    • Developing a new structure for the standards; and
    • Reviewing IAESB definitions to ensure consistency with the definitions used by other IFAC boards and committees.

    The IAESB will consider a draft of a proposed statement on the drafting conventions at its October 2009 meeting.

    4. IAESB Chair Engages Academe

    Mark Allison, IAESB Chair, participated in a panel discussion on the impact of globalization on accounting education at the 2009 annual meeting of the American Accounting Association.

    Mr. Allison provided a brief overview of the IAESB's pronouncements and upcoming activities, including the current public consultation of the IAESB 2010-2012 Strategy and Work Plan. One of the key platforms of the new work plan is to reach out to the academic community to ensure more active participation in the development of the IAESB pronouncements and standard-setting activities.

    The IAESB Chair indicated the need for more applied research aimed at supporting the development of accounting education policy and encouraged the academic community to participate in commenting on the IAESB's pronouncements to ensure consistent implementation and greater awareness.

    5. The 2009 Handbook of International Education Pronouncements Is Now Available

    The IAESB 2009 Handbook of International Education Pronouncements is now available for downloading, free of charge, from the IFAC online bookstore (www.ifac.org/store). Print copies can also be ordered for shipment.

    The new IAESB Handbook contains the IAESB's suite of eight International Education Standards, as well as the Framework for International Education Pronouncements, Introduction to International Education Standards, and three International Education Practice Statements.

    6. Progress Report on IAAER/ACCA Education Research

    In the second quarter of 2008, the International Association for Accounting Education & Research (IAAER) held a research competition, funded by the Association of Certified Chartered Accountants (ACCA), to commission four research projects that will help the IAESB by providing evidence on the acceptance, implementation, and impact of accounting education standards throughout the world.

    As a follow-up to its February 2009 meeting, the IAAER held a meeting in early August to provide feedback on the four winning research proposals that cover topics related to the IAESB work program. IAESB members who attended the meeting indicated that they were pleased with the progress of the projects, given that all of the projects had reached the point where data was being collected and analyzed.

    The projects are as follows:

    • "How Does the Methodology of Education and Training in Ethics Affect the Ethical Awareness and Practice of the Professional Accountant?"
    • "Access to CPD Opportunities and Resources to Assist Professional Accountants to Meet Their Commitment to Life Long Learning: Evidence from the Asia Pacific Region"
    • "Searching for Best Practice in the Development and Assessment of Non-Technical Skills in Accountancy Trainees - A Global Study"
    • "The Awareness and Impact of International Accounting Education Standards"

    The research teams will continue their work over the coming year with the aim of presenting their results at the 11th IAAER World Congress of Accounting Educators and Researchers in November 2010. More information about the teams conducting these research projects is available here.

    For more information about any of the items mentioned above or other information about the IAESB and IFAC, please contact communications@ifac.org.

    About the IAESB and IFAC

    The IAESB, an independent standard-setting board within IFAC, develops standards and guidance on prequalification education, training, and continuing professional education and development for all members of the accountancy profession. The Public Interest Oversight Board oversees the activities of the IAESB and, as one element of that oversight, establishes its due process and working procedures.

    IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 157 members and associates in 123 countries, representing more than 2.5 million accountants in public practice, education, government service, industry and commerce. In addition to setting international education standards through the IAESB, IFAC, through its independent standard-setting boards, sets standards on ethics, auditing and assurance, and public sector accounting. It also issues guidance to encourage high quality performance by professional accountants in business.


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