IES 4 prescribes the learning outcomes for professional values, ethics, and attitudes that aspiring professional accountants are required to demonstrate by the end of Initial Professional Development. Professional values, ethics, and attitudes are defined as the behavior and characteristics that identify professional accountants as members of a profession. These include the ethical principles generally associated with, and considered essential in defining, the distinctive characteristics of professional behavior.

IES 3 prescribes the learning outcomes for professional skills that aspiring professional accountants are required to demonstrate by the end of Initial Professional Development. Professional skills are the (a) intellectual, (b) interpersonal and communication, (c) personal, and (d) organizational skills that a professional accountant integrates with technical competence and professional values, ethics, and attitudes to demonstrate professional competence.

IES 3 is effective from July 1, 2015.

IES 2 prescribes the learning outcomes for technical competence that aspiring professional accountants are required to demonstrate by the end of Initial Professional Development. Technical competence is the ability to apply professional knowledge to perform role to a defined standard.

It is effective from July 1, 2015.

The International Federation of Accountants (IFAC), the global organization for the accountancy profession with 179 members in 130 countries, today issued the Call for Nominations for the IFAC Board and Committees in 2015. The Call for Nominations provides information on the upcoming opportunities for membership on the IFAC Board, committees, and the Compliance Advisory Panel.

In 2015, there will be 29 vacancies, including two leadership positions—the IFAC deputy president and the chair of the Small and Medium Practices Committee. All vacancies on the Board and committees are open to nominations by IFAC members.

“Volunteers are central to the effective functioning of IFAC and the authority and expertise of our committees,” said IFAC President Warren Allen. “We remain gratified to attract tremendously qualified and talented members of the profession as Board and committee members, and look forward to receiving highly-qualified nominations again this year. The hard work and dedication of our volunteers, together with the support of our member organizations, are critical and extremely valued by the global profession.”

IFAC encourages all members to review the information in the Call for Nominations, which includes detailed information on vacancies, composition targets, qualifications, and requirements for membership for the Board and committees, as well as time commitment and performance expectations for volunteers. It also offers strategic guidance in selecting candidates, including how IFAC members can identify the most qualified nominee for each available position.

The Call for Nominations marks the opening of the nominations period, which runs from January 15 to March 15, 2014. Nominations can be submitted through the Nominations Database (instructions for submitting nominations are included in the Call for Nominations). Additional information on the Nominating Committee and its process is available on the Nominating Committee web pages.

About IFAC
IFAC is the global organization for the accountancy profession, dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of 179 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

The Call for Nominations for the Independent Standard-Setting Boards in 2015 was issued today. The Call for Nominations outlines the upcoming opportunities for membership on the International Auditing and Assurance Standards Board (IAASB), International Accounting Education Standards Board (IAESB), International Ethics Standards Board for Accountants (IESBA), and International Public Sector Accounting Standards Board (IPSASB).

In 2015, there will be 22 vacancies on the independent standard-setting boards, including the IAESB chair. All vacancies are open for nominations by all stakeholders, including professional accountancy and international organizations, governmental agencies, firms, and the public. Although each candidate is ultimately selected on the basis of experience, nominations of highly-qualified candidates from the Africa-Middle East and Latin America regions are particularly encouraged.

The Call for Nominations includes detailed information on qualifications, including time commitment and performance expectations for volunteers, as well as instructions on how to apply during the nominations period, which runs from January 15 to March 15, 2014.

Nominations can be submitted through the Nominations Database (instructions on how to submit a nomination are included in the Call for Nominations). Additional information on the Nominating Committee and its transparent, open process is available on the Nominating Committee web pages.

About the IAASB
The International Auditing and Assurance Standards Board (IAASB) develops auditing and assurance standards and guidance for use by all professional accountants under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAASB, and the IAASB Consultative Advisory Group, which provides public interest input into the development of the standards and guidance. The structures and processes that support the operations of the IAASB are facilitated by the International Federation of Accountants (IFAC).

About the IAESB
The International Accounting Education Standards Board (IAESB) develops education standards, guidance, and information papers for use by IFAC member bodies under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAESB, and the IAESB Consultative Advisory Group, which provides public interest input into the development of the standards and guidance. The structures and processes that support the operations of the IAESB are facilitated by IFAC.

About the IESBA
The International Ethics Standards Board for Accountants (IESBA) is an independent standard-setting board that develops and issues, in the public interest, high-quality ethics standards and other pronouncements for professional accountants worldwide. Through its activities, the IESBA develops the Code of Ethics for Professional Accountants, which establishes ethics requirements for professional accountants. The structures and processes that support the operations of the IESBA are facilitated by IFAC.

About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) develops accounting standards and guidance for use by public sector entities. The structures and processes that support the operations of the IPSASB are facilitated by IFAC. The IPSASB receives support (both direct financial and in-kind) from the World Bank, the Asian Development Bank, the Chartered Professional Accountants of Canada, the South African Accounting Standards Board, and the governments of Canada, New Zealand, and Switzerland.

About IFAC
The International Federation of Accountants (IFAC) is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of 179 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

Charles Tilley is the former CEO of the International Integrated Reporting Council (IIRC). Prior to that role at the IIRC, Mr. Tilley served as Chair of its technical task force and Senior Advisor to the IIRC Board Chair. Mr. Tilley also served as Chair of the IFAC Professional Accountants in Business (PAIB) Committee 2014-2019.

Following his retirement as the Chief Executive of the Chartered Institute of Management Accountants (CIMA) in 2016, Mr. Tilley is now the Executive Chairman of the CGMA Research Foundation. As Chief Executive of CIMA since 2001, he significantly raised CIMA’s profile and brand, including developing and implementing a stakeholder-centric strategy resulting in impressive levels of member and student growth.

A prominent advocate for global reform of corporate reporting, and a commentator on a wide range of business issues, at CIMA Mr. Tilley has led advocacy to effect change on finance, governance, and accountancy issues with government, regulators, standard setters, and the World Bank, among other organizations. He continues to direct CIMA’s thought leadership activity, focused on governance, the development of effective external and internal reporting, performance management, and developments in the finance function. Under his leadership, CIMA formed a joint venture with the American Institute of CPAs to establish the Chartered Global Management Accountant (CGMA) designation.

He also sits on the UK Financial Reporting Council’s Lab Steering Group and is a council member of the Prince of Wales’ Accounting for Sustainability. Currently, he is Deputy Chairman of Great Ormond Street Hospital. Previously, between 2008 and 2015, he held various non-executive positions at the Ipswich Building Society.

Prior to joining CIMA, Mr. Tilley spent fourteen years at KPMG, becoming a partner in 1986. Subsequently, he held senior positions as Group Finance Director of Investment Banks at Hambros plc and Granville Baird.

Mr. Tilley was awarded an OBE for his services to the economy in the New Year’s Honours, 2016.

The International Ethics Standards Board for Accountants (IESBA, the Ethics Board) is holding a series of three global roundtables to gain additional feedback on its project to address professional accountants’ responsibilities regarding the disclosure to an appropriate authority of suspected non-compliance with laws and regulations (formerly called suspected illegal acts) by a client or employer:

• Hong Kong S.A.R, China, on May 20, 2014;
• Brussels, Belgium, on June 13, 2014; and
• Washington DC, USA, on July 10, 2014.

The Ethics Board initiated the project in response to regulatory concerns that the current confidentiality provisions in the Code of Ethics for Professional Accountants (the Code) are an impediment to whistleblowing in relation to non-compliance or suspected non-compliance with laws and regulations. The issues revolve around how to balance professional accountants’ responsibility to act in the public interest against confidentiality, one of the five fundamental principles in the Code. At the heart of the debate is what is reasonable to ask of auditors and other professional accountants within their public interest mandate.

These events are a follow-up to the board’s August 2012 Exposure Draft, which described the circumstances in which a professional accountant would be required or expected to breach confidentiality and disclose the matter to an appropriate authority. The roundtables will bring together representatives from a broad range of stakeholder groups around the world, including regulators, investors, preparers, audit committee members, IFAC member bodies, firms and national standard setters, to share their perspectives on the Ethics Board’s indicative direction of its revised proposals on the topic.

As space is limited, attendance is by invitation only, which will follow shortly. If you are interested in participating, we invite you to submit your expression of interest via email to KaushalGandhi@ethicsboard.org by January 31, 2014, indicating your name, job title, organization and preferred location.

About the IESBA
The International Ethics Standards Board for Accountants (IESBA, the Ethics Board) is an independent standard-setting board that develops and issues, in the public interest, high-quality ethical standards and other pronouncements for professional accountants worldwide. Through its activities, the Ethics Board develops the Code of Ethics for Professional Accountants, which establishes ethical requirements for professional accountants. The structures and processes that support the operations of the Ethics Board are facilitated by IFAC. Please visit www.ethicsboard.org for more information.

About IFAC
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 179 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

#   #   #

The aim of the project is to develop a standard(s) that provides requirements applicable to both administrators and participants in Emissions Trading Schemes (ETS).