March 7, 2011 Letter Commenting on the International Accounting Education Standards Board's "International Education Standard (IES) 7 Continuing Professional Development:
A Program of Lifelong Learning and Continuing Development of Professional Competence, December 2010"
Published: Mar 7, 2011. Publicly Released: Mar 7, 2011.
This letter provides the U.S. Government Accountability Office's (GAO) comments on the International Accounting Education Standards Board's (IAESB) proposed revisions to the IES on continuing professional development (CPD). Overall, we agree with the changes made by the Board and we support the proposed standard. CPD requirements are an integral component of a professional accountant's competence and contribute to the profession's objective of providing high quality services to meet the needs of the public (including clients and employers).