International Accounting Education Standards Board (IAESB)
The International Accounting Education Standards Board (IAESB) – formerly the IFAC Education Committee – develops guidance to improve the standards of accountancy education around the world and focuses on two key areas:
- The essential elements of accreditation, which are education, practical experience and tests of professional competence; and
- The nature and extent of continuing professional education needed by accountants.
IAESB pronouncements are of three types:
- International Education Standards (IESs) express the benchmarks that IFAC member bodies are expected to meet in the preparation and continual development of professional accountants. They establish the essential elements of the content and process of education and development at a level that is aimed at gaining international recognition, acceptance and application
- International Education Guidelines for Professional Accountants (IEGs) interpret, illustrate, elaborate, or expand on matters related to International Education Standards. The guidelines assist IFAC member organisations with implementing the standards. The guidelines may also recommend practice that is wider or deeper than the practice described in the IESs
- International Education Papers for Professional Accountants (IEPs) explain, examine, analyse, or otherwise critically assess education issues and practices. The aim of these papers is to encourage consideration and comment on the issues so they may be advanced. The papers may also be descriptive, aiming to promote awareness of, and transfer knowledge and information on, education and development issues or practices relating to the accountancy profession.