The International Accounting Education Standards Board has proposed a revision to its continuing professional development standards that could potentially move accountants away from gaining CPE credit in terms of a set number of hours.
International Education Standard (IES) 7, Continuing Professional Development, puts more emphasis on learning and development directly related to an accountant’s professional responsibilities instead of simply focusing on a minimum number of hours of continuing professional development.
The proposed revisions aim to encourage accounting organizations to re-examine how their continuing professional development systems are measured, monitored and enforced.
“Many CPD programs will benefit from a more innovative approach to learning and development given technological and educational advances,” said IAESB chair Chris Austin in a statement Monday. “This proposed standard embraces innovation and changes in learning by enhancing existing requirements and focusing recommended measurement approaches on learning while emphasizing the range of available approaches.”
Along with professional accounting organizations, the proposed standard is also aimed at educational organizations, employers, regulators, government authorities, and other stakeholders that are involved in, or support, continuing development for the accounting profession.
The International Accounting Education Standards Board operates under the auspices of the International Federation of Accountants, whose member organizations in the U.S. include the American Institute of CPAs and the Institute of Management Accountants.
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