The 2012 International Accounting Education Standards Board (IAESB) Annual Report, Enhancing Professional Accounting Education, highlights the IAESB’s work in the public interest to enhance the quality and consistency of accounting education practices throughout the world, and thereby strengthen the public’s confidence in the competence of the global accounting profession.       

The revised IES 5, Initial Professional Development—Practical Experience, aims to assist educational organizations, employers, regulators, government authorities, and any other stakeholders who support the practical experience of professional accountants.

The revised International Education Standard (IES) 1, Entry Requirements to Professional Accounting Education Programs, is intended to protect the public interest by both establishing fair and proportionate entry requirements—which help those individuals considering professional accounting education make appropriate career decisions—and ensuring that requirements for entry to professional accounting education are not misrepresented.

The International Accounting Education Standards Board (IAESB) has released (IES) 6, Initial Professional Development—Assessment of Professional Competence. The revised education standard will help IFAC member bodies and other professional accountancy organizations understand the learning and development requirements for assessing professional competence, and their obligations in upholding the standards.

The revised standard also addresses elements that are essential to assessing professional competence of an aspiring professional accountant.