Needles Global Edu Ifac
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The Global Coordination of Accounting Education
Presented By
Belverd E. Needles, Jr., Ph.D, CPA
Past-President-IAAERErnst & Young Distinguished Professor of AccountingDePaul University
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Objectives of Presentation To show the need for global coordination of
accounting education to summarize efforts of organizations globally to
achieve this objective to highlight the work of IAAER in coordinating
accounting education globally to propose a plan for achieving coordination by
focusing on education of accounting professors in International Education Standards (IES)
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“While the accounting standards used must be high quality, they also must be supported by an infrastructure that ensures that the standards are rigorously interpreted and applied, and that issues and problematic practices are identified and resolved in a timely fashion.” (SEC, 2000, p 2, emphasis added)
Importance of Infrastructure
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Elements of a Global Infrastructure
Effective, Independent and High-Quality Accounting and Auditing Standard Setters
High-Quality Auditing Standards Audit Firms with Effective Quality Controls
Worldwide Profession-Wide Quality Assurance Active Regulatory Oversight (SEC,2000
p2)
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WHERE IS ACCOUNTING EDUCATION IN THIS STRUCTURE?
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Accounting Education and Professional Accountants
Factors Affecting the Judgment of Professional Accountants
Factors Affecting the Qualifications of Professional Accountants
Global Coordination of Accounting Education
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Factors Affecting Judgment in the Application of International Auditing Standards
InternationalAccounting/Auditing
Standards
Education
Experience
Culture
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Factors Influencing the Qualifications of Professional Accountants
RegulationAcademics
Professional Alliances
Qualifications
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Global Coordination of Accounting Education
Academic Coordination
Regional
National
International
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Global Forces for Change Unrelenting Competitive Pressure Impact of Information and Communication
Technologies Globalization of Business Focus on Value Accounting Demand for New Knowledge and Skills Demand for improvements in corporate
governance and ethics (Source: Karraman, 2004)
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Global Assumptions A Profession’s Only Real Capital is its Human
Capital Nationally-Based Education Systems Must Reflect
the Global Dimension The Modern Professional Needs Both Broad
Knowledge and Specialized Skills Professionals Must Continually Acquire New
Knowledge and Skills Future Accountants Need Training in Ethics and
Objectivity(Source: Karreman, 2004)
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Emerging Economies - Students
Entering Students are not Adequately Prepared
Accounting Students do not Always Reflect Diversity of the Population
Economic and Health Issues among Students
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Emerging Economies – Prequalification Education
The Quality of Academic Education for Pre-qualification Needs to be Improved
Too Much Emphasis on Bookkeeping in the Accounting Curriculum
Instructors Lack Knowledge of International Standards and Practices
Lack of Adequate Resources for Higher Education
Professional Ethics is not Taught as a Separate Subject
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Emerging Economies – Post Graduate
Professional Examinations do not Always Represent Good International Practice
Practice Training Requirements do not Always Exist
Continuing Education Requirements do not Always Exist
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The Value Chain of Accounting Education--Traditional View
I II III IV V VIEconomic Data Transformation Information Analysis Decisions Events and Data Base
STAGESSTAGES
Low valueLow valueskillsskills
High valueHigh valueskillsskills
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The Value Chain of Accounting Education--Future View
I II III IV V VIEconomic Data Transformation Information Analysis Decisions Events and Data Base
STAGESSTAGES
Increasingly performed by Increasingly performed by technologytechnology
Emphasis of Accounting Emphasis of Accounting EducationEducation
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Global Movements in Accounting Education
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UNCTAD United Nations Conference on Trade and
Development Guidelines on National Requirement for
Qualification of Professional Accountants Global Curriculum Draws heavily on IFAC International Education
Guidelines and Standards Benchmark for Qualifications for Professional
Organizations Assist with Mutual Recognition of Qualifications
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Global Accountancy Education Network (GAEN)
Promoting Accountancy Reform by Quantitative Assessment and Progress Monitoring of Professional Associations and Qualifications Requirements
Accountancy Profession as Critical Component for Economic Growth
Accountancy Reform as a Key Factor for Promoting Transparency, Accountability, Ethics and Professional Values
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DePaul University Center Global Accountancy Education
Benchmarking Quantitative Benchmarking Methodology Transferable Identifies Gaps Measures Improvements Facilitates Global Trading in Accountancy
Services
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Common Curriculum Project
Eight European Accountancy Institutes have Developed Proposals to Unify Their Respective National Professional Entry-Level Qualifications while, at the Same Time, Ensuring that those Qualifications Remain of High-Quality and Meet Changing Expectations.
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Common Curriculum Project
The Institutes will Agree to a Common Content that Covers the Greater Part of the Curricula of their National Professional Entry-Level Qualifications.
Common Content will be International. Each Institute will Identify a National
Content for its National Qualification.
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International Accounting Education Standard Board (IAESB)
Develops standards and other guidance to Strengthen Accountancy Education Worldwide and Focuses on: Prequalification Accounting Education Practical Experience and Training Assessment; and Continuing Professional Education Needed
by Accountants
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IFAC IAESB
Global Perspective on Education Due Process Public Interest Oversight
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IAAER Mission
MISSION STATEMENT:
The mission of the IAAER is to promote excellence in accounting education and research on a worldwide basis and to maximize the contribution of accounting academics to the development and maintenance of high quality, globally recognized standards of accounting practice.
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IAAER History
1984: Founded in advance of Kyoto Congress
1989: Institutional Membership Grows 1992: Representation on the IFAC
Education Committee 1995: Consultancy Group of IASC
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IAAER Coordinating Activities World Congresses of Accounting Education Accounting Education for the 21st century: The
Global Challenges (Needles/Burns, 1993) Regional Conferences on Accounting Education
and Research Institutional Member Meetings Cooperative Conferences for Education and
Research Directors of Professional Associations Implementation Guide for IEG No. 9 Global Code of Ethics of Accounting Educators
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IAAER Structure
IAAERStructure
Academic Associations
Individual Members
Professional Associations
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IAAER Initiatives
IAAERInitiatives
Conferences and Congresses
Standard Setting Bodies-Research
and Representation
Communication
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IAAER Communication
IAAERActivities
Web Site COSMOS
JIFMA and AE:AIJ
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IAAER Conferences/Congresses
IAAERConferences
Research Conferences
World Congresses
Specialized Conferences
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Future Role of IAAER in Global Accounting Education
Voice of Accounting Academics Coordination of Accounting Education Academic Research on Standards Faculty Development
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Major Issues Raised by the Standards
How to Instill the Characteristics of Lifelong Learning in Future Professional Accountants through Accounting Education
How to Design and Implement a Program of Accounting Education that Achieves the Objectives of the Prequalification Education
How to Develop Awareness Of The Need for Improvement in Accounting Education and Encourage the Development of Accounting Education
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Other Issues in Global Accounting Education: Research into
Specifications of Appropriate Assessment Methods
Competencies Professional Attitudes and Ethics Variations in Nationally-Imposed Requirements Supply/Demand for Accountants/Auditors who
can Produce/Audit Transnational Accounts
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How will these issues be addressed?
IAESB working through member bodies IAESB obtaining endorsement by key regulators Volunteer self-development on the part faculty Focused global efforts of faculty development
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A Proposal: IAAER Project Athena
What is it? A Targeted Global Faculty Development
Program What is its purpose?
To educate accounting faculty in developing and emerging economies in International Education Standards (IES) and their implementation
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IAAER Project Athena: Quality Control
Country follow-up and consultancy by IAAER-trained educators
Assessment and Benchmarking Periodic Reporting
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Conclusion
What questions do you have?