IES 5, Initial Professional Development—Practical Experience (Revised)
The revised IES 5, Initial Professional Development—Practical Experience, aims to assist educational organizations, employers, regulators, government authorities, and any other stakeholders who support the practical experience of professional accountants.
IES 5 recognizes that practical experience is relevant in developing the competence of an aspiring professional accountant. Additionally, it promotes greater flexibility in measuring practical experience; permits practical experience supervisors to direct, advise, and assist an aspiring professional accountant’s experience; and requires practical experience to be recorded in a verifiable and consistent form.
IES 5 is effective from July 1, 2015.
A staff-prepared Basis for Conclusions describes the IAESB’s deliberations during its development.
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