INTERNATIONAL EDUCATION STANDARD 2 INITIAL PROFESSIONAL DEVELOPMENT – TECHNICAL COMPETENCE (2016)

1. Learning Outcomes for Technical Competence

1.1. Financial accounting and reporting

1.2. Management accounting

1.3. Finance and financial management

1.4. Taxation

1.5. Audit and assurance

1.6. Governance, risk management and internal control

1.7. Business laws and regulations

1.8. Business and organizational environment

1.9. Economics

1.10. Business strategy and management

2. This IES is effective from July 1, 2015.

3. Scope of this Standard

3.1. An aspiring professional accountant is an individual who has commenced a professional accounting education program as part of IPD

3.2. Each IFAC member body may define the appropriate relationship between the end of IPD and the point of qualification (or licensing) for its members.

3.3. Further development of technical competence is a focus of Continuing Professional Development (CPD), which is covered in IES 7

3.4. integration and application of (a) technical competence, (b) professional skills, and (c) professional values, ethics, and attitudes.

3.5. . Learning outcomes establish the content and the depth of knowledge, understanding, and application required for each specified competence area.

4. Objective

4.1. establish the technical competence that aspiring professional

5. Review of Professional Accounting Education Programs

5.1. IFAC member bodies shall regularly review and update professional accounting

6. Assessment of Technical Competence

6.1. appropriate assessment activities