The document discusses the International Accounting Education Standards Board (IAESB), which develops standards and guidance for accounting education and professional development. It aims to strengthen the accounting profession by promoting high-quality, consistent education standards globally. The IAESB operates under the International Federation of Accountants (IFAC) and works with volunteers and other stakeholders to develop and revise International Education Standards on topics like entry requirements, education content areas, practical experience, and continuing professional development. The standards are intended to enhance competence and consistency across nations and professional accounting organizations.
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Brazilian Congress of Accountants - August 2012
1. The Regulation of Professional
Accounting Education
Peter Wolnizer
IAESB Chair
Professor Emeritus , University of
Sydney
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2. IFAC Today
⢠Expanding network of 167 member bodies in 127
countries, representing 2.5 million accountants.
⢠IFAC is committed to protecting the public interest by
developing high-quality international standards.
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3. 4 Standard-Setting Boards
International Auditing and Assurance
Standards Board
International Ethics Standards Board for
Accountants
International Public Sector Accounting
Standards Board
International Accounting Education
Standards Board
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4. Our raison dâĂŞtre
"The foundation of every state is the education of its
youth."
Diagenes Laertius, 3rd Century
"The foundation of the accounting profession is the
education of its current and prospective members."
IAESB adaptation, 2012
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5. Our mission
â to serve the public interest by
strengthening the worldwide
accountancy profession through the
development and enhancement of
education.â
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6. More competent accountants
⢠Strengthen the ability of the accountancy
profession to provide more competent services in
an increasingly complex, globally inter-connected
and rapidly changing commercial world.
⢠Enhance public trust in the global accountancy
profession.
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7. How Do We Operate?
A shared standard-setting process involving
⢠Volunteer members - including practicing
accountants, academics, representatives from
business, the forum of firms and the public
⢠Public Interest Oversight Board (PIOB) - oversight of
Boardâs activities
⢠Consultative Advisory Group (CAG) â strategic and
operational advice
⢠IFAC staff â facilitate structures and processes that
support the operations of the IAESB
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8. The IAESB serves the public interest
⢠By promulgating high quality standards and
guidance statements that are designed to enhance
the education, development and assessment of
professional accountants
⢠By promoting the adoption and implementation of
the International Education Standards (IESs)
⢠By developing education benchmarks for measuring
the implementation of the IESs
⢠By advancing international debate on emerging
issues relating to the education, development and
assessment of professional accountants
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9. IAESB pronouncements
⢠International Education Standards
⢠International Education Practice Statements
⢠International Education Information Papers
⢠Other Support Materials (toolkits, Q&As )
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10. International Education Standards (IESs)
⢠Prescribe the professional knowledge, skills, values,
ethics and attitudes required of professional
accountants.
⢠Act as benchmarks for professional accounting
education.
⢠Promote lifelong learning through continuous
professional development and education.
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11. International Education Standards (IESs) aim to
⢠Reduce international differences in the
requirements to qualify and work as a
professional accountant
⢠Facilitate global mobility of professional
accountants
⢠Provide international benchmarks against which
IFAC member bodies can measure themselves
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12. International Education Standards (IESs)
Pre-Qualification Post-Qualification
Entry Requirements for Continuing Professional
Professional Accounting Development (IES 7)
Education Program(IES 1)
Specialization (IES 8)
Content of Professional
Accounting Education (IESs
2,3,4)
Practical Experience (IES 5)
Assessment (IES 6)
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13. International Education Standards (IESs)
⢠IES 1, Entry Requirements to a Program of Professional
Accounting Education
⢠IES 2, Content of Professional Accounting Education
Programs
⢠IES 3, Professional Skills and General Education
⢠IES 4, Professional Values, Ethics and Attitudes
⢠IES 5, Practical Experience Requirements
⢠IES 6, Assessment of Professional Capabilities and
Competence
⢠IES 7, Continuing Professional Development: A Program of
Lifelong Learning and Continuing Development of
Professional Competence
⢠IES 8, Competence Requirements for Audit Professionals
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14. Aim of the IES Revision Project
⢠Improve clarity
⢠Ensure consistency with new Framework (2009)
document
⢠Clarify issues resulting from environment and
experience
⢠Recast in terms of learning outcomes
⢠Ensure wide and sufficient consultation
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15. Consequences
⢠Ensure consistent application by reducing ambiguity
about the requirements imposed on an IFAC member
body.
⢠Draw attention to the important obligations of IFAC
member bodies
⢠Follow up to revision project with implementation
guidance
⢠Promote consistency in practice and share good
practices in learning and development
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16. Impact of Revised Standards- Selected Stakeholders
IES Status Developed Developing University Regulator
PAO PAO
1 Standard M M L L
2 Exposure H H H M
3 Exposure M H M L
4 Re- M H M M
Exposure
5 Post- M M L M
Exposure
6 Standard M M M M
7 Standard H H L M
8 Exposure H H L H
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17. Clarified IES 7,
Continuing Professional Development
Redrafting of Standard
⢠Clarify wording of requirements
⢠Re-organize the presentation of explanatory
material
⢠Ensure consistency with concepts of new
Framework (2009) document and terminology of
other Standards
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18. IES 7, Continuing Professional Development (CPD)
Requirements:
IFAC Member Bodies shall
⢠Promote CPD
⢠Facilitate CPD
⢠Require mandatory CPD
⢠Establish a preferred approach to measure
CPD (e.g., Input-based, output-based,
combined approaches)
⢠Monitor CPD & provide appropriate sanctions
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19. IES 2, Initial Professional Development â Technical
Competence
New Requirements
⢠Learning Outcomes Approach to demonstrate
professional competence
⢠Regular Review of Professional Accounting Education
Programs
⢠Assessment activities
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20. Current Exposure Drafts:
⢠IES 2, Initial Professional Development â Technical
Competence (November 1, 2012)
⢠IES 3, Initial Professional Development â Professional
Skills (November 1, 2012)
⢠IES 4, Initial Professional Development â Professional
Values, Ethics, and Attitudes (October 11, 2012)
⢠IES 8, Professional Development for Engagement
Partners Responsible For Audits of Financial
Statements (December 11, 2012)
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21. Information
Sources of Information
http://www.ifac.org/education
Survey URL:
at https://www.surveymonkey.com/s/IAESBStrategySurvey.
THANK YOU
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Hinweis der Redaktion
IFAC is aGlobal organization of the accountancy profession, Committed to the public interestComprised of 159 member bodies and associates in 124 countries and Represents 2.5 million accountants in public practice, education, government, service, industry, and commerceHow does it discharge these responsibilities?As well as its main tasks of standard setting and representing the profession at all levelsIt Supports professional accountants in business and small and medium practices, where sometimes the teams of professionals can be small, so that they need more help, itSpeaks out on public interest issues where the professionâs voice is most relevant and Promotes values of integrity, transparency and expertise
IFAC Standard Setting BoardsThere are the 4 standard setting Boards, dealing with Auditing Standards, Education standards, Ethics and the Public sector They are: International Auditing and Assurance Standards Board;International Ethics Standards Board for AccountantsInternational Public Sector Reporting Standards Board; and International Accounting Education Standards Board
IAESB Mission Statement is: to serve the public interest by strengthening the worldwide accountancy profession through the development and enhancement of education.â
The IAESB operates under a shared standard-setting process involving IAESB membersThe IAESB consists of a chairman, a deputy chairman, and 16 members â all volunteers from around the world, comprising accounting academics, practitioners in public practice, accountants in business, the public, and other individuals with an interest in its work. These members are equally balanced between practicing auditors and accountants and those not in practice, along with three public members. Public Interest Oversight BoardThe PIOB oversees the IAESB and the IAESB Consultative Advisory Group to ensure that their activities respond properly to the public interest. There are 10 PIOB members; they are nominated by the International Organization of Securities Commissions, the Basel Committee on Banking Supervision, the International Association of Insurance Supervisors, the World Bank, and the European Commission. 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. The structures and processes that support the operations of the IAESB are facilitated by IFAC.IAESB Consultative Advisory GroupThe IAESB Consultative Advisory Group (CAG) engages in active consultation with the IAESB to ensure that the publicâs interest is represented in the development and maintenance of the IAESBâs standards, agenda, project timetable, and priorities. The CAG is made up of regulators, preparers of financial information, and others with an interest in international auditing and assurance. A list of the CAG member organizations can be found on the IFAC website. IFACThe structures and processes that support the operations of the IAESB are facilitated by IFAC.
The following table shows the expected impact of the revised standards on four important stakeholders. I draw your attention to the 2nd column which identifies the current status of the eight education standards. There are three standards that have been approved completed: IESs 1, 6, and 7. The rest of the standards are either at the exposure or post-exposure level.The next four columns represent the following stakeholders and the expected impact in terms of high, medium, and low:Developed IFAC Member Bodes and Professional Accounting OrganizationsDeveloping IFAC Member Bodes and Professional Accounting OrganizationsUniversityRegulatorsWe expect that IESs 2, 7 and 8 will have the greatest impact on the four stakeholders.