IES 4 prescribes the learning outcomes for professional values, ethics, and attitudes that aspiring professional accountants are required to demonstrate by the end of Initial Professional Development. Professional values, ethics, and attitudes are defined as the behavior and characteristics that identify professional accountants as members of a profession. These include the ethical principles generally associated with, and considered essential in defining, the distinctive characteristics of professional behavior.
IES 3 prescribes the learning outcomes for professional skills that aspiring professional accountants are required to demonstrate by the end of Initial Professional Development. Professional skills are the (a) intellectual, (b) interpersonal and communication, (c) personal, and (d) organizational skills that a professional accountant integrates with technical competence and professional values, ethics, and attitudes to demonstrate professional competence.
IES 2 prescribes the learning outcomes for technical competence that aspiring professional accountants are required to demonstrate by the end of Initial Professional Development. Technical competence is the ability to apply professional knowledge to perform role to a defined standard.
The International Accounting Education Standards Board has released for public exposure a proposed revision of International Education Standard (IES) 8, Professional Competence for Engagement Partners Responsible for Audits of Financial Statements.
The revised standard now focuses on the professional competence requirement for engagement partners who have responsibility for audits of financial statements.
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.
This Exposure Draft, 2014–2016 IAESB Strategy and Work Plan, was developed and approved by the International Accounting Education Standards Board (IAESB) and focuses on projects and activities aimed at providing adoption and implementation guidance on the revised IESs to interested stakeholders in professional accounting education.
