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15 April 2011

IFAC: IAESB revised standard on professional values, ethics and attitudes


The IAESB published for public comment a proposed revision of International Education Standard (IES) 4, Professional Values, Ethics and Attitudes. IES 4 will be helpful to stakeholders who support the learning and development of professional accountants. Comments are requested by July 15, 2011.

The revised standard, part of the IAESB’s project to improve the clarity of its standards, proposes that the development of professional values, ethics and attitudes be addressed by learning and development activities that occur throughout the career of the professional accountant.

IES 4, drafted in 2004, prescribes the values, ethics and attitudes that professional accountants should acquire during the education programme leading to qualification. In addition to a formal programme assessment and a learning outcome approach, the IAESB also proposes a requirement on reflective activity—where professional accountants and students undertake the practice of documenting experiences relating to lessons learned from ethical dilemmas and situations.

As part of its project to improve the clarity of its standards, the IAESB has undertaken a project to redraft all eight of its IESs in accordance with its new clarity drafting conventions. This project began in December 2010 with the proposed revision of IES 7, 'Continuing Professional Development: A Programme of Lifelong Learning and Continuing Development of Professional Competence'. The current timetable envisages that all IESs will have been revised and redrafted, or redrafted only, by the first quarter of 2013.


© IFAC - International Federation of Accountants

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