Objective
Revision of the Framework for International Education Standards for Professional Accountants
Objective
To update the IAESB Framework for International Education Standards for Professional Accountants to align to the concepts in the Revised IESs.
Scope
The revision of the Framework will aim to define and align concepts that are contained within the Revised IESs. The revision of the Framework document will help promote consistency in the use of terminology and concepts, as well as share good practices in the learning and development of a professional accountant. The revised Framework will draw the attention of IFAC member bodies and other interested educational stakeholders to the principles and concepts that support the development and implementation of professional accounting education programs for professional accountants. Consultation of IFAC member bodies, interested stakeholders of accounting education, and the public through the issuing of an exposure draft and consultation with the Consultative Advisory Group (CAG) will enhance the quality of the Framework by ensuring transparency in the deliberation of issues.
PROJECT CONTACT
David McPeak
TASK FORCE
- David Simko (Chair)
- Susan Flis (Secretary)
- Kazuo Hiramatsu
- Gareth Wellings
- Blanca Tapia
- Suzie Webb
Background
- At its October 2009 meeting the IAESB agreed to redraft and revise all eight IESs.
- In December 2009 the IAESB published the Framework for International Education Standards for Professional Accountants, which enhances the relevancy, consistency, and applicability of its publications to IFAC members. The Framework also includes an appendix, "IAESB Drafting Conventions," which will be used to increase the clarity of its standards.
- The IAESB consulted with the IAESB CAG at its September 2013 meeting about the scope of the revisions required to the Framework and at its February 2014 and April 2014 teleconference meetings on significant issues of the project and the project proposal.
- At its June 2014 meeting the IAESB approved the project proposal to revise Framework for International Education Standards for Professional Accountants.
Issues
Issues that this project will consider include:
(i) Reviewing and updating terminology of the Framework to align with the revised IESs and the current implementation of the drafting conventions;
(ii) Updating content and reorganizing structure of the Framework to align with the Revised IESs, including clarifying the definitions of professional accountant and general education;
(iii) Reviewing and updating the authoritative status of the Framework because it (a) clarifies the concepts underlying the revised IESs and (b) does not impose requirements or obligations on its principle audience, IFAC member bodies.
Task Force progress / Board discussions to date
IAESB Meetings:
June 2014: The IAESB received revised drafts of the project proposal and the proposed Exposure Draft of the Framework for International Education Standards (Framework), as well as an Issues paper that identified significant issues resulting from the drafting of the revised version of Framework. The IAESB agreed with task force proposal to modify the content of the project proposal to reflect its non-authoritative status because the Framework clarifies the concepts underlying the revised IESs and does not impose requirements or obligations on its principle audience. Following the discussion on the project proposal the IAESB approved the direction of the project proposal. The IAESB also agreed taskforce’s proposals on: (1) amending paragraph 5 of the Exposure Draft to identify the mission of the IAESB and to recognize that the quality of professional accounting education is improved by the implementation of the IESs; (2) removing the reference in paragraph 12 of the Exposure Draft to the IESBA Code of Ethics for Professional Accountants in the definition of the aspiring professional accountant because aspiring professional accountants need to abide by a code of conduct required by Member Bodies or Employers; (3) broadening the definition of general education in paragraph 26 of the Exposure Draft so that it recognizes the development of fundamental knowledge, skills, and attitudes is achieved through broad-based education while preparing an individual for entry into a professional accounting education program and supporting lifelong learning; and (4) including the description of the proficiency levels as an appendix to provide an understanding of the proficiency levels which supports the learning outcomes approach used in the IESs; and moving the discussion on why proficiency levels are not included in IES 8 to the Explanatory Material section of IES 8 where it is more relevant to the reader. Following this discussion the IAESB decided on the exposure draft of the Framework for International Education Standards, including the definitions of professional accountant and general education to obtain public comment for a 90-day period starting July 23, 2014.
April 2014: The IAESB received a draft of the proposed project proposal, a copy of the Framework for International Education Standards for Professional Accountants (2009) document, as well as an Issues paper that identified significant issues relating to the development of the revised version of Framework. The IAESB agreed with the following taskforce views on the content of the project proposal: (1) coverage of the public interest issues is sufficient, subject to including public interest issues covered in the visionary statement of the Framework so as to ensure consistency; (2) no additional consultation through public forums, roundtables or consultation paper was needed at this time because the IAESB is proposing to update the Framework document by aligning the concepts to those that have already been exposed for public comment through the revision of the IESs; and (3) does not need to be published as an authoritative pronouncement because the revised Framework would not establish any requirements on IFAC member bodies. The IAESB directed that taskforce to consult with the CAG at its April 2014 teleconference meeting with the aim of preparing a revised project proposal for discussion and approval by the Board at its June 2014 meeting.
The IAESB also agreed taskforce’s proposals on resolving the following significant issues relating to the content of the Framework document by: (1) including a visionary statement that aligns with the purpose statement of the 2014-2016 SWP, provides greater emphasis on the public interest, and reflects the concepts and principles upon which the IESs are developed; (2) including paragraphs on assessment and measurement that clarify the relationship between assessment and measurement and describe the different measurement approaches; and (3) covering general education at a “high level” in a separate section of the Framework that defines general education while recognizing knowledge and skills gained through life experiences and the behavioral aspect of learning. The IAESB directed that taskforce to consult on these issues, including the non-authoritative status of the Framework, with the CAG at its April 2014 teleconference meeting with the aim of preparing an Exposure Draft of Framework document for discussion and approval by the Board at its June 2014 meeting.
October 2013: The IAESB received an Issues paper that identified project issues relating to the development of the revised version of Framework. These discussions covered issues relating to: the importance of the Framework document; the need for including additional concepts to support the IESs; and the approach of exposing changes to the public for comment. The IAESB directed the task to consult with the CAG at its February 2014 meeting and then prepare a project proposal and a discussion paper on proposed changes to the Framework document for discussion by the Board at its April 2014 meeting.
Next Steps
The IAESB will discuss CAG members’ and respondents’ comments on the Exposure Draft, as well as the task force’s proposals on revising the exposed draft of the Framework for International Education Standards.