This memorandum provides background to, and an explanation of, the proposed International Education Standard (IES) 5, Practical Experience Requirements, approved for exposure by the International Accounting Education Standards Board (IAESB) at its May 2011 meeting. 

The current version of IES 5 was published in May 2004 and became effective on January 1, 2005. IES 5 prescribes the practical experience IFAC member bodies should require their members to obtain before qualification as professional accountants. 

This memorandum provides background to, and an explanation of, the proposed International Education Standard (IES) 1, Entry Requirements to Professional Accounting Education, approved for exposure by the International Accounting Education Standards Board (IAESB) at its May 2011 meeting. 

The current version of IES 1 was published in May 2004 and became effective on January 1, 2005. IES 1 prescribes the entry requirements for an IFAC member body's program of professional accounting education and practical experience. 

This memorandum provides background to, and an explanation of, the proposed International Education Standard (IES) 6, Assessment of Professional Competence, approved for exposure by the International Accounting Education Standards Board (IAESB) at its March 2011 meeting. The current version of IES 6 was published in May 2004 and became effective on January 1, 2005. IES 6 prescribes the requirements for a final assessment of a candidate's professional competence before qualification.

This memorandum provides background to, and an explanation of, the proposed International Education Standard (IES) 4, Professional Values, Ethics, and Attitudes, approved for exposure by the International Accounting Education Standards Board (IAESB) in March 2011. The current version of IES 4 was published in May 2004 and became effective on January 1, 2006. IES 4 prescribes the professional values, ethics, and attitudes that professional accountants should acquire during the education program leading to qualification.

This memorandum provides background to, and an explanation of, the proposed International Education Standard (IES) 7, Continuing Professional Development: A Program of Lifelong Learning and Continuing Development of Professional Competence (Redrafted) approved for exposure by the International Accounting Education Standards Board (IAESB)in November 2010. The current version of IES 7 was published in May 2004 and became effective on January 1, 2006.

This Consultation Paper seeks views on a number of specific issues that require consideration in relation to the IAESB's planned revision of International Education Standard (IES) 8: Competence Requirements for Audit Professionals. These views will also inform the development of implementation guidance for this standard.

This Standard prescribes the practical experience and training member bodies should require their members to obtain to qualify as professional accountants.

International Education Standards for Professional Accountants (IES) prescribe standards of generally accepted "good practice" in the education and development of professional accountants. IES express the benchmarks that member bodies are expected to meet in the preparation and continual development for professional accountants. They establish the essential elements of the education process at a level that is aimed at gaining international recognition, acceptance and application of the education process. Hence, member bodies must consider these prescriptions.