IFAC's Accounting Education Standards Board Releases New Framework and Drafting Conventions to Enhance Clarity of its Standards
The International Accounting Education Standards Board (IAESB) has released its Framework for International Education Standards for Professional Accountants (the Framework), which enhances the relevancy, consistency, and applicability of its publications to IFAC members. The Framework sets out the educational concepts that underlie the IAESB's International Education Standards (IESs), describes the nature of IAESB publications, and affirms IFAC member bodies' obligations relating to accounting education. The Framework also includes an appendix, "IAESB Drafting Conventions," which will be used to increase the clarity of its standards. - View more

IESBA has issued a revised Code of Ethics for Professional Accountants
(New York/July 10, 2009) - The International Ethics Standards Board for Accountants (IESBA) has issued a revised Code of Ethics for Professional Accountants (the Code), clarifying requirements for all professional accountants and significantly strengthening the independence requirements of auditors. The revised Code has been released following the consideration and approval by the Public Interest Oversight Board (PIOB) of due process and extensive public interest consultation. The revised Code, which is effective on January 1, 2011, includes the following changes to strengthen independence requirements: - View more