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17 December 2009

IFAC releases new framework and drafting conventions

The New Framework and Drafting Conventions enable the IAESB to deploy a more efficient and effective standard-setting process and to better demonstrate accountability for its decisions, said Mark Allison, Chair of the IAESB.

The International Accounting Education Standards Board (IAESB), an independent standard-setting board within the International Federation of Accountants (IFAC), has released its Framework for International Education Standards for Professional Accountants (the Framework). It enhances the relevancy, consistency, and applicability of its publications to IFAC members, sets out the educational concepts that underlie the IAESB's International Education Standards (IESs), describes the nature of IAESB publications and affirms IFAC members' obligations relating to accounting education. The Framework also includes an appendix, 'IAESB Drafting Conventions' (the Drafting Conventions), which will be used to increase the clarity of its standards.

The Framework is addressed primarily to IFAC member bodies because of their interest in the education, development, and assessment of their members and students. It is also relevant to a wide range of stakeholders, including accounting faculties at universities, employers of professional accountants, professional accountants, prospective professional accountants, and others interested in the work of the IAESB.

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© IFAC - International Federation of Accountants

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