International Accounting Education Standards Board

The International Accounting Education Standards Board (IAESB) was an independent organisation within the fold of the International Federation of Accountants (IFAC). The board developed guidance to improve standards of education in accountancy. It ended its term of service in 2019. ^[1]

The board made significant contributions to international accountancy education and the global accountancy profession by developing high-quality, relevant International Education Standards and by harnessing stakeholder relations to understand future needs. ^[2] In 2018, the IAESB and IFAC agreed on a new path forward that shifted the responsibility for the International Education Standards and guiding accountancy education into the future to IFAC, working in close partnership with its 180 member organizations, Network Partners and Forum of Firms stakeholders. ^{[2] [3]}

Organization

Members of the board were nominated by IFAC member organizations or by IFAC's Transnational Auditors Committee. ^[4] Public members may be nominated by member organizations, the TAC, other organizations and the general public. ^[5] The International Association for Accounting Education & Research (IAAER) was an observer of the board. ^[6] An IAAER research program funded by the Association of Chartered Certified Accountants (ACCA) creates research reports that inform the IAESB. ^[7] The IAESB was subject to the oversight of the Public Interest Oversight Board (PIOB). ^[8]

International Education Standards (IES)

The IAESB established a set of benchmarks known as International Education Standards (IES) to govern the Initial Professional Development (IPD) and Continuing Professional Development (CPD) of accountants. ^[9]

• IES 1: Entry Requirements — Prescribes the principles for fair and proportionate entry requirements to professional accounting education programs. ^[10]
• IES 2: Technical Competence — Establishes the technical knowledge learning outcomes required to perform the role of a professional accountant. ^[11]
• IES 3: Professional Skills — Sets outcomes for intellectual, interpersonal, personal, and organizational skills required in the profession. ^[12]
• IES 4: Professional Values, Ethics, and Attitudes — Focuses on the commitment to act in the public interest and the development of professional skepticism and judgment. ^[13]
• IES 5: Practical Experience — Establishes the requirement for sufficient and relevant practical experience to be completed during IPD. ^[14]
• IES 6: Assessment of Professional Competence — Outlines the requirements for the formal assessment of professional competence before qualification. ^[15]
• IES 7: Continuing Professional Development — Mandates that professional accountants develop and maintain competence throughout their careers. ^[16]
• IES 8: Professional Competence for Engagement Partners — Specifically addresses the competence required for audit engagement partners responsible for financial statement audits. ^[17]

Publications

In January 2010 the IAESB released its Framework for International Education Standards for Professional Accountants. ^[18] This paper defines the underlying educational concepts of the IAESB standards, describes the IAESB publications, and affirms the obligations of IFAC member bodies relating to accounting education. ^{[18] [19]} The IAESB periodically updates standards to remain responsive to evolving global trends that affect accountancy education. ^[20] In March 2010 the IAESB asked for comments on a proposed revision to the International Education Standard that defined Competence Requirements for Audit Professionals. This is one of the eight standards that address the principles of learning and development for professional accountants. ^[21] The IAESB strongly encouraged organizations and individuals to comment on proposed revisions. ^[22] In May 2011 the IAESB released a proposed revision of International Education Standard for Assessment of Professional Competence, requesting comments. ^[23]

References

1. "International Accounting Education Standards Board, 2005-2019". IFAC. Retrieved 3 June 2024.
2. "Exposure Draft, International Education Standards 2, 3, 4, and 8". IFAC. Retrieved 18 December 2025.
3. "About Accountancy Education". International Federation of Accountants. Retrieved 18 December 2025.
4. "Constitution of the International Federation of Accountants" (PDF). International Federation of Accountants. Retrieved 18 December 2025.
5. "Candidates Sought for Volunteer Positions on the Independent Standard-Setting Boards". IFAC. Retrieved 18 December 2025.
6. "IAESB Observer Guidelines". IFAC. Retrieved 18 December 2025.
7. "Research Grants". IAAER. Retrieved 7 June 2010.
8. "International Accounting and Auditing Standards". World Bank. Retrieved 7 June 2010.
9. "International Education Standards". IFAC. Retrieved 18 December 2025.
10. "IES 1: Entry Requirements". IFAC. Retrieved 18 December 2025.
11. "IES 2: Technical Competence". IFAC. Retrieved 18 December 2025.
12. "IES 3: Professional Skills". IFAC. Retrieved 18 December 2025.
13. "IES 4: Professional Values, Ethics, and Attitudes". IFAC. Retrieved 18 December 2025.
14. "IES 5: Practical Experience". IFAC. Retrieved 18 December 2025.
15. "IES 6: Formal Assessment of Professional Competence". IFAC. Retrieved 18 December 2025.
16. "IES 7: Continuing Professional Development". IFAC. Retrieved 18 December 2025.
17. "IES 8: Partners Responsible for Audits of Financial Statements". IFAC. Retrieved 18 December 2025.
18. "Revision of International Education Standard 2". IFAC. Retrieved 18 December 2025.
19. "IFAC Releases New Framework, Drafting Conventions to Enhance Clarity of its Standards". CFO Innovation Asis. 4 January 2010. Retrieved 7 June 2010.
20. "About Accountancy Education - IES Standards Development Framework". IFAC. Retrieved 18 December 2025.
21. "IAESB Issues Consultation Paper on Competence Requirements for Auditors". CFO Innovation Asia. 16 March 2010. Retrieved 7 June 2010.
22. "IAESB Issues Consultation Paper on Competence Requirements For Audit Professionals". Association of International Accountants. 22 March 2010. Archived from the original on 7 August 2011. Retrieved 7 June 2010.
23. "IAESB Proposes Clarified Standard on Assessment of Professional Competence". CFO Innovation Asia. 3 May 2011. Retrieved 7 June 2010.