Panel Takes Over from IAESB

SHARE:

The inaugural meeting of the International Panel of Accountancy Education (IPAE) is being held in New York City September 12-13, at which time it will pick up on the International Education Standards developed by its predecessor body, the International Accounting Education Standards Board (IAESB), and work to get them broadly implemented. The new Panel is overseen by the International Federation of Accountants’ Board (IFAC), rather than the Public Interest Oversight Board which oversaw the IAESB. IFAC has prepared a descriptive video: https://www.youtube.com/watch?v=2vfOlORv6hQ&feature=youtu.be&utm_source=IFAC+Main+List&utm_campaign=ddeba663d2-IAESB_eNews_3_4_163_4_2016_COPY_01&utm_medium=email&utm_term=0_cc08d67019-ddeba663d2-80290445.

The final meeting of the IAESB was held on June 24-26 in Toronto, when they approved revisions to International Education Standards 2, 3, 4 and 8 on information and communications technologies and professional skepticism learning outcomes. These are subject to the approval of the Public Interest Oversight Board at its September 26 meeting. IAESB also planned for how its work would transition over to the new Panel.

The new Panel has 22 members to provide a balanced representation on an international basis. It has a staggered rotation to ensure that at least one-third of its membership changes every year.

Dr. Raymond Johnson, 2017-2019 Chair of the IAESB Consultative Advisory Group and former NASBA Director-at-Large, explained the new Panel is going to be looking at adoption and implementation of the existing International Accounting Education Standards.

Among the many recommendations the IAESB made to the Panel were to have “consultative working groups for regulators, to obtain their perspective and advice” and “promote the accountancy profession as a learned profession, and not a vocation, by building on pillars of teaching, research and learning.”

Alta Prinsloo has been named executive director with primary responsibility for IFAC’s new approach to advancing education for future-ready professional accountants. Besides launching the IPAE, this approach also calls for establishing a key stakeholder database, an International Forum for Accounting Education Directors and an e-tool based on IES to provide a framework for a wide range of services. Consultative groups are going to be part of the IPAE’s future approach. An international forum for key accounting education stakeholders is to be held in November 2020 in Vienna, and the International Forum for Accountancy Education Directors will meet in February 2021 in New York City.

IFAC CEO Kevin Dancey will be addressing NASBA’s 2019 Annual Meeting and updating all on IFAC’s latest efforts.