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IAESB re-exposes proposed initial professional development standard

  • IAESB (International Accounting Education Standards Board) (lt gray) Image

30 Jul 2012

The International Accounting Education Standards Board (IAESB) has released an exposure draft of a proposed revision of International Education Standard (IES) 4, 'Initial Professional Development - Professional Values, Ethics, and Attitudes'. The revised exposure draft responds to comments received on an earlier exposure draft from March 2011.

In responding to comments received on the March 2011 exposure draft, the revised exposure draft:

  • clarifies the scope and objective paragraphs to ensure that there is a clear focus on Initial Professional Development (IPD)
  • clarifies the requirements on learning outcomes and assessment to ensure that IFAC member bodies understand their obligations
  • achieves greater consistency between IES 4 and other IESs when presenting learning outcomes and proficiency levels
  • places more emphasis on developing professional judgement and professional scepticism
  • clarifies the terminology used and adds definitions of various terms.

Comments on the revised proposals close on 11 October 2012.  The IAESB is expecting to finalise the revised IES in the second quarter of 2013 and is working towards an effective date of 1 July 2015.

Click for IAESB press release (link to IFAC website)

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