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State Board Report

May 2014

Singapore was the site of the 2014 International Conference and Annual Meeting of the Association to Advance Collegiate Schools of Business (AACSB), bringing together professionals and academics from top business schools around the world, April 7-9. This year’s conference showcased how the AACSB-accredited schools are embracing the more flexible, less prescriptive, Accreditation Standards adopted by the AACSB last year. The standards are based on the three pillars of innovation, engagement and input. NASBA Chair Carlos E. Johnson (OK) and Director of Continuous Improvements and Analytics James Suh attended the meeting, in addition to going to meet with the Hong Kong Institute of Certified Public Accountants, the Institute of Singapore Chartered Accountants and the Accounting and Corporate Regulatory Authority (the accountancy regulatory body for Singapore).

“This was a real opportunity to learn about how other countries are facing the challenge of educating professionals for the global economy,” Dr. Johnson observed. “Also informative discussions were held with each of the regulatory authorities regarding global mobility. The regulatory authorities desired to have their professional credentials be equal to the U.S. CPA.”

Mr. Suh, who heads NASBA’s International Evaluation Service and Candidate Performance efforts, remarked: “Attending a meeting in Singapore allowed us to connect with and learn from a large number of institutions and professionals in the international community. Many of these have a significant and growing interest in NASBA and the U.S. CPA profession. Also, as NASBA’s membership grapples with the implications of the rapidly changing education model, it was notable that nearly every institution we spoke with identified the non-traditional education model as a risk that needed to be better understood and proactively managed.”

At the AACSB meeting, one of the featured speakers was Professor Howard Thomas, Dean of Singapore Management University’s Lee Kong Chian School of Business, who forecast that it is inevitable that there will be market consolidation and a thinning of the ranks of business schools.

Melanie G. Thompson (TX), who has brought the State Boards’ views to the American Accounting Association’s Pathways Commission, will be speaking at the 2014 NASBA Regional Meetings about the educational changes being fostered by that project.

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