The International Accounting Education Standards Board seeks to improve the relevancy, clarity, and consistency of its standards as well as their applicability to International Federation of Accountants (IFAC) members and associates.
The IAESB is proposing a revised Framework for International Education Standards, which sets out the concepts that guide its International Education Standards (IES). From an educational perspective, the Education Board is also proposing definitions on professional accountant and general education.
The Framework is targeted primarily to IFAC member bodies that have direct or indirect responsibility for the learning and development of their members and students.
The Framework also is relevant to a wide range of stakeholders, including accounting faculties at universities, employers of professional accountants, professional accountants, prospective professional accountants, and others interested in the work of the IAESB.
“Our objective with this Framework is to improve the understanding and application of the principles and concepts that underlie the International Education Standards,” said IAESB Chair Peter Wolnizer.
“The Framework will assist those responsible in designing, developing, and assessing professional accounting education for current and aspiring professional accountants.”
As part of its initiative to improve the clarity of its standards, the IAESB is redrafting all eight of its IESs in accordance with its new drafting conventions. The IAESB has completed the revision of IESs 1 to 6 and the redrafting of IES 7.
Under the current timetable, the IAESB anticipates that the revision of its final standard, IES 8, will be completed by the fourth quarter of 2014.