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Information Technology Guidance from IFAC

Wednesday, November 15, 2006

On August 15, 2006, the International Accounting Education Standards Board (IAESB), an independent standard-setting board within the International Federation of Accountants (IFAC), released a proposal for new guidance outlining the knowledge and skills necessary to prepare professional accountants to perform competently in one or more information technology roles. The proposed new International Education Practice Statement, an exposure draft entitled Information Technology for Professional Accountants, provides details of the knowledge and skills required of professional accountants in the IT environment to prepare them to use information technology, work in the information technology environment, and rely on information technology. A copy of the draft can be found below.

The exposure draft updates the previously issued International Education Guideline 11 with the same title. It is primarily directed at assisting IFAC member bodies with implementing International Education Standard (IES) 2, Content of Professional Accounting Education Programs; IES 7, Continuing Professional Development: A Program of Lifelong Learning and Continuing Development of Professional Competence; and IES 8, Competence Requirements for Audit Professionals.

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