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IFAC adopts mandatory continuing education standard

  • IFAC (International Federation of Accountants) (lt gray) Image

08 May 2004

The International Federation of Accountants has issued a new International Education Standard that would require every member of an IFAC member body to complete continuing professional development activities relevant to their work on an ongoing basis.

The continuing education requirement would apply not only to accounting professionals who work in public practice but also those working in commercial, governmental, academic, and not-for-profit entities, and those who no longer work in traditional accounting roles. The standard does not specify subject areas in which professional accountants must maintain competence, as these will vary depending on the accountant's role and area of employment and focus. All IFAC member bodies are expected to comply starting 1 January 2006. IFAC News Release.

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