Characteristics of Accountancy Education

Abstract

The framework and development of International Education Standards (IES), attention is given to both the content of the IES, moving from guidelines to standards and to the process of their establishment by the International Accountancy Education Standards Board (IAESB). As in all sectors of the global financial infrastructure, benchmarks for accountancy education in countries with very different characteristics have become increasingly important. The IES establish the necessary elements of pre-qualification and post-qualification education and training. Conceptual subjects are covered in a Framework for IES with the objectives of the IES, the mission and strategy of the IAESB, the consultative process and, not in the least, the nature, scope and authority of the IES. The roles of learning, education, on-the-job training and off-the-job training are considered. The Framework and the strategic plan of the IAESB both point to the objective of the IES being ultimately being accepted by governments, regulators, academics, accountancy practices and the public. Over the last decade the IES have become increasingly accepted as benchmarks for good practice. The competency framework distinguishes three major areas: general country characteristics, standards for accountancy education, and competency pillars for accountants and auditors. The use of the competency framework makes it possible to present country results in a comparable format that can be used for analysis and evaluation. IES have been used as benchmarks for accountancy education on a country level. Higher level requirements of the IES are discussed, as well as the principles of the benchmarking methodology. Classification criteria for the selection of countries are considered.