The International Accounting Education Standards Board (IAESB) released a Consultation Paper on Wednesday, titled Meeting Future Expectations of Professional Competence: A Consultation on the IAESB’s Future Strategy and Priorities.
The IAESB’s proposed strategy from 2017 through 2021 builds on its revised International Education Standards (IES) and the Education Board’s work towards the implementation of those standards in an increasingly changing world.
“Accounting education remains a fundamental pillar in improving the quality of reporting and auditing financial statements,” stated IAESB chair Chris Austin. “The aim of the 2017-2021 IAESB Strategy and Priorities is to enhance further the competence and judgment of professional accountants and contributes to a strengthening of public trust and confidence in the quality of their work.”
The IAESB is looking to focus on four priorities beginning in 2017:
- Enhancing existing standards;
- Developing new standards to fill identified gaps in professional accounting education;
- Preparing material to support adoption and implementation of the IES; and
- Facilitating thought leadership on relevant issues.
Additionally, the IAESB is inviting comments from all stakeholders interested in or affected by accounting education. The Board especially encourages from IFAC Member Bodies in all jurisdictions; stakeholders in public policy, regulatory, public accounting and other relevant communities; professional accountants in business, government, and academia; and employers of professional accountants.
To view the Consultation Paper and submit comments, head to the IAESB’s site here. Comments are being taken until March 8, 2016.