International Accounting Education Standards Board Revision of IES

International Accounting Education Standards Board Revision of IES

International Accounting Education Standards Board Revision of IES 4 David McPeak IESBA Meeting October 2011 1 Introduction Aim of Revision Project: Improve clarity Ensure consistency with new Framework (2009) document Clarify issues resulting from environment and experience Ensure wide and sufficient consultation

2 Introduction Preliminary Consultation IFAC Compliance Program IESBA Secretariat 3 Introduction Aim of IES 4 Revision Project: Clarify the Standards requirements to ensure that accounting education programs continue to meet the core competence required for the various roles of a professional accountant; Revise the Standard to ensure consistency with the terminology and concepts set out in the revised IFAC Code of Ethics

4 Introduction IAESBs Mission is to serve the public interest by strengthening the worldwide accountancy profession through the development and enhancement of education. 5 Introduction Enhancing Education by Implementing IESs Serves the public interest by contributing to the ability of the accountancy profession to meet the needs of decision makers. Increases the competence of the global

accountancy profession, contributing to strengthened public trust. 6 Questions Question 1: Do IESBA members agree that the learning outcomes provided in paragraph 10 of the IES 4 Exposure Draft (See Agenda Item 7-A) represent the appropriate depth of ethics education needed to become a professional accountant? Question 2: Is the proposed requirement (See Paragraph 11 of Agenda Item 7-A) for reflection in relation to ethics education appropriate? Question 3: Does this requirement raise implementation issues? Question 4: Do IESBA members agree with including a requirement that covers the assessment of a program of professional accounting education containing professional values, ethics, and attitudes?

Questions Question 5: What advice would IESBA members provide in addressing the request provided above? IAESB Information IAESB pronouncements available at: http://www.ifac.org/education/publicationsresources THANK -YOU 9 Question 1 Level & Meaning .

Verbs to be used in learning outcomes to describe the level Knowledge: The remembering of previously learned material (recall of facts). Describe Define Identify List State

Comprehension: Demonstrative understanding of facts and ideas by organising, comparing, translating, interpreting, giving descriptions and stating main ideas. Explain Illustrate Interpret Distinguish Summarise Application:

Using new knowledge. Solve problems to new situations by applying acquired knowledge, facts, techniques and rules in a different way. Apply Prepare Calculate * Solve Produce Analysis: Examine and break information into parts by identifying motives or causes. Make inferences and find evidence to

support generalisation. Compare Analyse Select Prioritise Classify Synthesis: Compile information together in a different way by combining elements in a new pattern or proposing alternative solutions.

Develop Design Integrate * Plan Construct Evaluation: The ability to judge the value of material for a given purpose.

Recommend Evaluate ** Appraise Advise * Consider 10 Question 2 11

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