The International Accounting Education Standards Board (IAESB) has issued a revised version of International Education Standard (IES) 1, Entry Requirements to Professional Accounting Education Programs.
Originally approved in 2004, IES 1 is intended to both establish fair and proportionate entry requirements and ensure that requirements for entry to professional accounting education are not misrepresented.
In addition, the revised standard provides specification of entry requirements for professional accounting education and an explanation for the rationale behind the entry requirements.
It also provides a requirement that excessive barriers to entry are not put in place and a requirement to make relevant information publicly available so that individuals considering a career as a professional accountant can assess their chances of successful completion.
The revision is part of the IAESB’s project to redraft all eight IESs in accordance with the clarity drafting conventions outlined in its 2010-2013 Strategy and Work Plan.
IES 1 will be effective from 1 July 2014.