Accounting Professionals Powering Economies Accountancy ... · Benefits of practical experience and assessment IES 5&6 Practical Experience & Assessment Maintains Public Confidence

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Accounting Professionals Powering

Economies – Accountancy Education

Joseph Bryson and Alta Prinsloo

Quality and Development Department

August 16, 2018


What we do

MEMBERSHIP

• Assessing potential

members

• Engaging with

PAOs that have

expressed interest

COMPLIANCE

• IFAC Compliance

Program: SMO

Action Plans &

Dashboard Reports

• Enhanced

Enforcement

• International

Standards: Global

Status Report

DEVELOPMENT

• Identify, monitor,

and evaluate PAO

Capacity Building

projects

• Producing tools and

guidance for PAO

Development

DONOR ENGAGEMENT

• DFID PAO Capacity

Building Program

management

• MOSAIC

• Peer Reviewers for

World Bank’s ROSC

2.0


Suriname—unprecedented economic growth


However, not reflected in the national accountancy

profession


While accounting professionals are well-positioned

to support economic growth


What would it require?


• Supports development of relevant

accountancy competencies during

the IPD and CPD phases

• Supports ethical and professional

conduct

Benefits of International Education Standards

Sta

ndard

s &

Best P

ractices

Continuing Professional Development

IES 7 & 8

Assessment

IES 6

Practical Experience

IES 5

Content of Professional Accounting Education

IES 2, 3, 4

Entry Requirements

IES 1


Benefits of entry requirements

IES 1

Entry Requirements

Protect the Public Interest

Reasonable Chance of Success

Efficient Allocation of Resources

Help Prepare Individuals

Promotes Flexibility

Encourages Responsibility

IAESB Guidance Materials

• Guidance Paper

• Perspectives

• Illustrative Example

• Frequently Asked Questions


Benefits of learning outcomes approach

IES 2, 3, & 4

Learning Outcomes Approach

Learner-centric

Focuses Curriculum

Facilitates Quality

Assurance

Accommodates Various Learning

Styles

Promotes Innovation in

TeachingEncourages

Responsibility


• Value Statement

• Guiding Principles

• Illustrative Examples of Practice

– Designing Curricula & Learning

Outcomes

– Setting & Marking Examinations

– Mapping Curricula to Learning

Outcomes

– Designing Higher Education Programs

– Addressing Governance Structures



Benefits of practical experience and assessment

IES 5&6

Practical Experience

& Assessment

Maintains Public Confidence &

Trust

Promotes Business Acumen

Assists in Integrating Technical

Competence & Skills Develops

Professional Values, Ethics, &

Attitudes

Validates the Demonstration of Professional Competence

Enables Benchmarking of Individual’s

Performance & Proficiency


• Information Papers

– Development and Management of

Written Examinations

– Assessment Methods


Benefits of continuing professional development

IES 7 & 8

CPD

Maintains Public Confidence &

Trust

Supports High-Quality

Professional Service

Assists in Achieving

Career Goals

Improves Relevance & Productivity

Helps in Coping with

Change

Facilitates Learning Agility


• Webcasts on Implementation of

IES 8

– Professional Accountancy

Organizations

– Public Accounting Firms

– Engagement Partners



Lack of direct responsibility is a challengeAdoption & Implementation


Making it difficult for the PAO to fulfil its responsibilitiesAdoption & Implementation


And impacting adoption in the jurisdictionAdoption & Implementation


• Need for skepticism, judgment, collaborative problem-solving, integrated thinking

• Recognizing lifelong achievements

• Reskilling teachers

• Access to theoretical and empirical knowledge

• Velocity of changing learning environments

• Need for broader skills set

• Need to close the ICT skills gap

• Need to consider new types of CPD

Quality & Relevancy of Systems

How We learn

Refocusing the Skills Toolkit

Lifelong learning

Accountancy education challenges


• Learner-centric environment

• Outcomes-based

• ICT for teaching

• Lifelong learning

Flexible & Adaptable

• Adaptive curricula design

• Focus on learning experiences

• Assessment evolution or revolutionRelevant

Characteristics of future education systems


Intellectual Curiosity & Agility

Critical Thinking

Problem Solving

Prioritization

Project Management

Professional skepticism learning outcomes

IAESB Standards


• Update learning outcomes of IES 3,

4, 8

• Accounting Education Insights

Articles

• Implementation Support Materials

Lifelong Learning


Business Acumen

Digital Acumen

Behavioral Competence

Data Interrogation,

Synthesis, & Analysis

Communications

ICT learning outcomes

IAESB Standards


• Update Learning Outcomes of IES 2,

3, 4, 8

• Literature Review

• Accounting Education Insights

Articles

• Implementation Support Materials


1. Technology streamlines and optimizes the traditional

way of working

2. Technology transforms the traditional way of working

3. The future we create for our profession

The journey ahead … a challenge worth accepting


Brainstorming

Discussion 1

• What needs to change to render and realize the benefits of

high-quality accounting professionals for Surinam?

• What would be the challenges to get there?

Discussion 2

• Who are the stakeholders—enablers and blockers—we

have to bring on this journey?

• How can we use the enablers to influence the blockers?

www.ifac.org

http://www.ifac.org/

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Accounting Professionals Powering Economies Accountancy ... · Benefits of practical experience and assessment IES 5&6 Practical Experience & Assessment Maintains Public Confidence