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Regular Review of Professional Accounting Education Programs Proposed

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Regular Review of Professional Accounting Education Programs Proposed

by CFO Innovation Asia Staff, 30 July 2012
topics:
Accounting and Regulations
tags:
accounting education programs International Accounting Education Standards Board
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The International Accounting Education Standards Board (IAESB) has 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 primarily aimed at IFAC member bodies, but will be of interest to educational organisations, employers, regulators, government authorities, and other stakeholders who support the learning and development of professional accountants.
 
Drafted in 2004, IES 4 prescribes the values, ethics, and attitudes that professional accountants should acquire during the education program leading to qualification. 
 
A revised draft of IES 4 was exposed for public comment in May 2011 and, while respondents’ comments were generally supportive, further clarification was requested in explaining the requirements on learning outcomes, assessment, and reflective activity—the recurring process of reviewing  experiences with a view to improve future actions. As a result, the IAESB has made substantial changes to the content of IES 4.
 
In addition to addressing these issues, the proposed revised IES 4 requires IFAC member bodies to regularly review and update their professional accounting education programs.
 
Professional accounting education programs include formal education and workplace training. 
 
Updating both the knowledge content of professional accounting education programs and the content of workplace training on a regular basis, improves the likelihood of learning outcomes being relevant and developing appropriate competence. 
 
“The regular review and updating of professional accounting education programs—including professional values, ethics, and attitudes as outlined in IES 4—is essential to both the development and the maintenance of competence,” stated Prof. Peter Wolnizer, chair of the IAESB. “Additionally, increasing competence improves the quality of financial information—a key component of business decision-making.”
 
In a continuing effort to improve the clarity of its standards, the IAESB has undertaken a project to redraft all eight of its IESs in accordance with its new clarity drafting conventions. 
 
IES 7, Continuing Professional Development, is the first clarified standard to be released since the project began in December 2010.
 
Under the current timetable, the IAESB anticipates that all IESs will have been revised and redrafted, or redrafted only, by Quarter 3 2013. 
Orignal Author: 
CFO Innovation Asia Staff
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This is great to see that
Submitted by Pradipta Dutta on 6 March 2013 - 5:58pm

This is great to see that IAESB is taking action to include programs to develop values, ethics, and attitudes for the accounting students. Though according to BLS report healthcare skills are more sought after in the job market as the health care industry is booming against all odds but the commerce and financial management industry comes right after it when numbers of job offerings are calculated.

Such review would definitely
Submitted by Prabir Banik on 14 February 2013 - 8:09pm

Such review would definitely help in improving the standard of the course and not just that through these reviews it would be easier to find out the problem areas. When you look for a job you should find out the best areas for your job, for instance, if you are applying for a teachers job learn about best teacher states.

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