IAESB eNews

    Filter By

     
     

    Newsletters & eNews

    Dec 13, 2010

    English

    IAESB

     

    Find more news & events related to:
    IAESB

    IAESB eNews

    1) IAESB Proposes Clarified IES 7, Continuing Professional Development
    2) IAESB to Revise International Education Standards (IESs) 1-8
    3) IAAER World Congress and IAAER/ACCA Research Update
    4) ICPAS Accountancy Convention Update
    5) IAESB at the World Congress of Accountants
    6) IAESB-UNCTAD Accounting Education Forum Planned for March 2011
    7) IFAC Addresses the Concept of the Public Interest
    8) IAESB Releases Paper on Educational Assessment Practices

    1) IAESB Proposes Clarified IES 7, Continuing Professional Development

    On December 10, the International Accounting Education Standards Board (IAESB) released for public exposure a proposed redrafting of International Education Standard (IES) 7, Continuing Professional Development: A Program of Lifelong Learning and Continuing Development of Professional Competence. The proposed redrafting of IES 7 aims to ensure that the public interest is met by assisting in the ongoing development of Continuing Professional Development (CPD) systems and compliance mechanisms worldwide.

    The IAESB believes that a redrafting of IES 7 will encourage a more innovative approach to meeting CPD needs. The goal is to achieve this by confirming the existing requirements of the standard, particularly in relation to the range of available approaches to CPD systems and the recommended measurements for appropriate CPD activity over time.

    The IAESB invites all stakeholders to comment on the proposal. To access the exposure draft or submit a comment, visit the IAESB's website at www.ifac.org/Education/ExposureDrafts.php. Comments on the exposure draft are requested by March 8, 2011.

    2) IAESB to Revise International Education Standards (IESs) 1-8

    The redrafting of International Education Standard (IES) 7 is the first in a series of planned revisions of the suite of International Education Standards over the coming year. The IAESB plans to draw international attention to CPD through the redrafting of IES 7, and also to prequalification for accounting professionals and the competencies of an auditor by revising its other existing standards.

    A news release will be sent alerting IFAC member bodies, regulators, and other stakeholders to submit comments when each exposure draft is released. The IAESB invites all stakeholders to comment on each of its proposals. All exposure drafts will be located on the IAESB's website at www.ifac.org/Education/ExposureDrafts.php.

    3) IAAER World Congress and IAAER/ACCA Research Update

    The IAESB participated in the International Association for Accounting Education and Research (IAAER) 11th World Congress of Accounting Educators and Researchers, providing board members with an opportunity to discuss issues on professional accountancy education with important thought leaders in the area of international accounting education and research. This congress was a two-day event held November 4-6 at the Singapore Management University campus. Mark Allison, chair of the IAESB; Karen Pincus, deputy chair of the IAESB; Tim Forristal, technical advisor and vice president of education, Canadian Institute of Chartered Accountants; and Kazuo Hiramatsu, IAESB member and IAAER Board of Advisors member, led the panel session "Professional Accounting Education: Building its Foundation." This IAESB session gave conference attendees an overview of what the IAESB is doing in anticipation of an environment that is becoming increasingly globalized and requiring a greater level of specialized knowledge and professional judgment.

    In addition, the final papers for the Association of Chartered Certified Accountants (ACCA)/IAAER grant program to inform the work of the IAESB were presented on November 4. The four research projects provided valuable input to IFAC member organizations and to the task of advancing accounting education worldwide. The research findings of these projects help to develop a better understanding of the current state of accounting education in various countries and the obstacles to implementation of international standards.

    4) ICPAS Accountancy Convention Update

    There were more than 1,200 participants at the Singapore Accountancy Convention and gala dinner, making it one of the Institute of Certified Public Accountants of Singapore's (ICPAS) largest and most successful events. Held at the Marina Bay Sands Expo & Convention Centre on November 2, the event brought together a distinguished line-up of speakers and panelists from around the world.

    Professor Mark Allison, IAESB chairman and executive director, education and international at the Institute of Chartered Accountants of Scotland, highlighted the key revisions to professional education standards in "A Journey of Lifelong Learning and Continuing Development of Professional Competence." Professor Kim Langfield-Smith, IAESB member and deputy dean (research) and professor of management accounting at Monash University, explored the different approaches to the assessment of competence used by professional accounting bodies globally. And Mr. Mark Spofforth, IAESB member and vice president of the Institute of Chartered Accountants in England and Wales, discussed the latest changes in professional development requirements. All IAESB presentations were very well received, and the board was impressed and encouraged to see that professional accountants in the Asia Pacific region have a strong commitment to lifelong learning.

    5) IAESB at the World Congress of Accountants

    IFAC recently hosted the World Congress of Accountants (WCOA) from November 8-12, 2010 in Kuala Lumpur. IAESB members led a thought-provoking panel on November 9 on "Shaping the Next Generation of Accountants." An increasingly globalized environment is requiring professional accountants to demonstrate a greater level of specialized knowledge and professional judgment. Therefore, IAESB Board members Mark Spofforth, Saleem Kharwa, and Robert Jelly led discussions and made presentations on the role of the IAESB, and the development and assessment of professional competence at a global level. Fellow panelist Nataliya Vovchuk, head of ACCA Ukraine, Baltic and Caucasus States, provided case studies on how member bodies in Eastern Europe and other regions have succeeded in developing their professional accounting education programs to meet these challenges. IFAC Board member Roberto Resa chaired this session. Mr. Resa is also a managing partner at Resa y Asociados and a member of the Executive Committee of Jeffreys Henry International.

    On November 10 during the WCOA, a lively discussion hosted by the IASEB was also held regarding prequalification education of professional accountants and continuing professional development for members of the profession. The concurrent session, chaired by Warren Allen, IFAC deputy president and a partner at Ernst & Young in New Zealand, was titled "The Framework for International Education Standards," and provided different perspectives on the changes to the IAESB's framework for education standards. Dr. Adrian Pulham provided insight from the perspective of professional accountancy organizations, Dr. Marcello Canetti represented the Forum of Firms, and IAESB Technical Manager David McPeak provided the point of view from an academic standpoint. IAESB Chairman Mark Allison spoke on behalf of the IAESB to provide deeper knowledge on the anticipated outcomes of the framework, including international measures to benchmark against, the 2010-2012 Strategy and Work Plan, and expected changes resulting from the revision project.

    6) IAESB-UNCTAD Accounting Education Forum Planned for March 2011

    The IAESB is partnering with the United Nations Conference on Trade and Development (UNCTAD) for a full-day Accounting Education Forum in Geneva, Switzerland on March 8, 2011. The theme of the forum will focus on the implementation of the International Education Standards and the need for capacity building in developing high-quality corporate reporting. The event will be of special interest to administrators of professional accountancy organizations, professional accounting educators, regulators, and those who are interested in understanding the requirements and implications involved in the development and delivery of professional accountancy education programs. More information on the event's agenda will be made available by the IAESB in January.

    7) IFAC Addresses the Concept of the Public Interest

    IFAC has released for public exposure A Public Interest Framework for the Accountancy Profession (IFAC Policy Position Paper #4).

    In order to consider and address issues in the accountancy profession on a consistent and clearly articulated basis, IFAC has developed a principles-based framework of the public interest, which can be applied to standard setting, governance processes, policy analysis, and regulatory issues. Although mainly designed for use by IFAC itself, it may also be useful to the accountancy profession as well as to policymakers, regulators, and business leaders.

    IFAC considers that the accountancy profession, in serving the public interest, should be evaluated against three criteria: 1) consideration of costs and benefits for society as a whole; 2) adherence to democratic principles and processes; and 3) respect for cultural diversity. These criteria enable IFAC to assess the extent to which any policy, action, process, or condition is in the public interest.

    All stakeholders are invited by IFAC to comment on its proposals. To access the exposure draft or submit a comment, visit IFAC's website at www.ifac.org/Guidance/EXD-Outstanding.php. Comments on the exposure draft are requested by March 25, 2011.

    8) IAESB Releases Paper on Educational Assessment Practices

    In June 2010, the IAESB released an International Education Information Paper to help professional organizations conduct written examinations to assess the capabilities and competence of candidates for qualification. The Information Paper, titled Development and Management of Written Examinations, is intended to help professional accountancy organizations implement International Education Standard (IES) 6, Assessment of Professional Capabilities and Competence, issued in October 2003, and covers the many policies and procedures to develop, administer, and grade these written examinations. The paper has been found to be especially useful to developing organizations that need to make decisions on assessment practices for their education programs

    The paper provides an overview of the policies concerned with the development and administration of examinations, including "high stakes" examinations that lead to qualification as a member of a professional organization. It also includes examples of the processes and procedures that member bodies use to deliver reliable and valid assessments, including appropriate elements of quality control

    A copy of Development and Management of Written Examinations can be found on the IAESB website at www.ifac.org/publications/international-accounting-education-standards-board/adoption-implementation-r.



    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
    The IAESB (www.ifac.org/education) develops education standards, guidance and information papers for use by IFAC member bodies under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAESB, and the IAESB Consultative Advisory Group, which provides public interest input into the development of the standards and guidance.

    About IFAC
    IFAC (www.ifac.org) 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. It is comprised of 164 members and associates in 125 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

     

    Related Resources