IES 5, Practical Experience Requirements for Aspiring Professional Accountants
Proposed Redrafted International Education Standard

This memorandum provides background to, and an explanation of, the proposed International Education Standard (IES) 5, Practical Experience Requirements, approved for exposure by the International Accounting Education Standards Board (IAESB) at its May 2011 meeting. 

The current version of IES 5 was published in May 2004 and became effective on January 1, 2005. IES 5 prescribes the practical experience IFAC member bodies should require their members to obtain before qualification as professional accountants. 

Submitted Comment Letters

1. Chartered Accountants Ireland (Ireland)
September 12, 2011

2. FEE (Belgium)
September 22, 2011

3. Professional Oversight Board (United Kingdom)
September 29, 2011

4. The Chartered Institute of Public Finance and Accountancy  (United Kingdom)
September 29, 2011

5. Consiglio Nazionale dei Dottori Commercialisti e degli Esperti Contabili (Italy)
October 3, 2011

6. European Federation of Accountants and Auditors for SMEs (Belgium)
October 3, 2011

7. Instituto de Censores Jurados de Cuentas de España (Spain)
October 3, 2011

8. American Institute of CPA (USA)
October 5, 2011

9. The Institute of Chartered Accountants of India  (India)
October 5, 2011

10. CMA Canada (Canada)
October 6, 2011

11. Hong Kong Institute of Certified Public Accountants  (Hong Kong (Special Administrative Region of China))
October 6, 2011

12. PricewaterhouseCoopers LLP (United Kingdom)
October 6, 2011

13. ACCA (United Kingdom)
October 7, 2011

14. BDO (Belgium)
October 7, 2011

15. Deloitte Touche Tohmatsu Limited (USA)
October 7, 2011

16. Ernst & Young LLP (United States)
October 7, 2011

17. Institut der Wirtschaftspruefer in Deutschland e.V. (IDW) (Germany)
October 7, 2011

18. Institute of Certified Public Accountants of Singapore (Singapore)
October 7, 2011

19. Japanese Institute of Certified Public Accountants (Japan)
October 7, 2011

20. Malaysian Institute of Accountants (Malaysia)
October 7, 2011

21. Accounting Programs Leadership Group of the American Accounting Association (United States)
October 11, 2011

22. Association of Accounting Technicians (United Kingdom)
October 11, 2011

23. CPA Australia (Australia)
October 11, 2011

24. Chartered Institute of Management Accountants  (United Kingdom)
October 11, 2011

25. Denise Silva Ferreira Juvenal (Brazil)
October 11, 2011

26. IBR-IRE (Belgium)
October 11, 2011

27. INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANT OF RWANDA (ICPAR) (Kenya)
October 11, 2011

28. IRBA (South Africa)
October 11, 2011

29. Institute of Chartered Accountants in Australia (Australia)
October 11, 2011

30. Institute of Chartered Accountants of Scotland  (United Kingdom)
October 11, 2011

31. National Board of Accountants and Auditors (Tanzania, United Republic of)
October 11, 2011

32. Ramachandran Mahadevan (India)
October 11, 2011

33. The Canadian Institute of Chartered Accountants (Canada)
October 11, 2011

34. The Institute of Chartered Accountants in England and Wales (United Kingdom)
October 11, 2011

35. The South African Institute of Chartered Accountants (South Africa)
October 11, 2011

36. KPMG (Canada)
October 12, 2011

37. New Zealand Institute of Chartered Accountants (New Zealand)
October 12, 2011

38. Certified General Accountants Association of Canada (Canada)
October 19, 2011

39. The Chinese Institute of Certified Public Accountants (China)
November 1, 2011

40. Institute of Certified Public Accountants of Ireland (Ireland)
January 27, 2012

Related Resources

• IES 1, Entry Requirements to Professional Accounting Education
• IES 2, Initial Professional Development-Technical Competence
• IES 3, Initial Professional Development- Professional Skills
• IES 4 Initial Professional Development-Professional Values, Ethics, and Attitudes (Proposed Revision)
• IES 8, Professional Development for Engagement Partners Responsible for Audits of Financial Statements