The International Accounting Education Standards Board (IAESB) has released for public exposure a proposed revision of International Education Standard (IES) 8, Professional Development for Engagement Partners Responsible for Audits of Financial Statements. The revised standard proposes the professional development requirements for aspiring engagement partners and serving engagement partners who provide assurance services for audits of financial statements.

The International Accounting Education Standards Board (IAESB) has released for public exposure a proposed revision of International Education Standard (IES) 2, Initial Professional Development-Technical Competence. IES 2 was drafted in 2004 and prescribes the knowledge content and the mix of professional skills aspiring professional accountants should acquire during initial career development. 

The International Accounting Education Standards Board (IAESB) has released for public exposure a proposed revision of IES 3, Initial Professional Development- Professional Skills. IES 3 was drafted in 2004 and prescribes the knowledge content and the mix of professional skills aspiring professional accountants should acquire during initial career development.

The International Accounting Education Standards Board (IAESB) today released for public exposure a proposed revision of International Education Standard (IES) 4, Initial Professional Development-Professional Values, Ethics, and Attitudes. IES 4, part of the IAESB’s project to improve the clarity of its standards, is aimed at educational organizations, employers, regulators, government authorities, and other stakeholders who support the learning and development of professional accountants.

The IESBA has proposed a change to the definition of “those charged with governance” in the Code of Ethics for Professional Accountants (the Code) to more closely align the definition of the term with that in the IAASB’s International Standard on Auditing (ISA) 260, Communication with Those Charged with Governance.

This consultation focuses solely on the IPSASB’s work program for the period 2013-2014. It is designed to seek feedback on how the IPSASB should allocate its limited time and resources over this period in order to create a short-term work program that meets stakeholders’ needs.

IPSASB Publishes Public Sector Combinations Consultation Paper for Comment. The objective of this Consultation Paper (CP) is to initiate discussion on the possible accounting treatment for public sector combinations (PSCs) in the general purpose financial statements (GPFSs) of an entity that uses accrual-based IPSASs. It considers matters such as the timing of recognition, and the initial measurement basis or approach that could be adopted for the wide range of combinations that may occur in the public sector.

This Invitation to Comment (ITC) sets out the IAASB’s indicative direction proposed for the future auditor’s report. It features a revised auditor’s report that illustrates the application of the IAASB’s suggested improvements to auditor reporting. The ITC also provides the IAASB’s rationale for the suggested improvements, together with a discussion of their potential value and impediments, and in what areas feedback is sought.

This Exposure Draft proposes changes to the definition of “engagement team” to make it clear that internal auditors providing direct assistance to an external auditor are not considered to be part of the audit engagement team under the IESBA Code of Ethics for Professional Accountants (the Code) and eliminate the perception that the Code and ISA 610, Using the W