IAESB Meeting: Discussions and Outcomes
The International Accounting Education Standards Board (IAESB) met in New York, October 24-26. Among its actions was, most notably, approving for release an exposure draft on revised and new learning outcomes for four different International Education Standards—IESs 2, 3, 4 and 8. The proposed changes all relate to professional skepticism and information and communications technology. Comments on the Exposure Draft are requested by February 4, 2019. The IAESB will also release a series of short videos over the coming months that explore the revised and new learning outcomes from a variety of perspectives.
The IAESB meeting agenda also included a range of important issues for global accounting education, including:
- The joint meeting with the IAESB Consultative Advisory Group, which met in New York, October 22-23
- Planned implementation support materials for IES 7, Continuing Professional Development (to be released in the first quarter of 2019)
- Implementation support materials on public sector accounting education learning outcomes
The IAESB also agreed to further activities to help improve implementation support for IES 4, Professional Values, Ethics and Attitudes. The board was also updated on recent stakeholder engagement and communications activities.
As IFAC moves toward a future model for accountancy education, the IAESB also continued to review task force and working group activities to accelerate and complete some projects prior to June 2019. Further information on the IAESB’s priorities can be found in IAESB Chair Chris Austin’s statement. Meeting agenda and materials are available online.
The IAESB Consultative Advisory Group also met in New York in October. Part of its meeting was devoted to a brainstorm with IFAC’s Incoming CEO Kevin Dancey on how to best support accountancy education. The CAG also met with IAESB members to discuss the transition to a future model for accountancy education. In both meetings, CAG members reiterated their commitment to an effective transition. They also advocated for an inclusive future model that covers all jurisdictions while recognizing that various education models exist across jurisdictions, and for greater IES awareness. CAG members noted that professional accountancy organizations in many jurisdictions have little authority over changes to education models.