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A93450 1 (2011-03-07)

handle is hein.gao/gaobadvxo0001 and id is 1 raw text is: i ~G A 0 Accountability , Integrity - Reliability United States Government Accountability Office Washington, DC 20548 March 7, 2011 Technical Manager International Accounting Education Standards Board International Federation of Accountants 277 Wellington Street West, 4th Floor Toronto, Ontario M5V 3H2 CANADA Subject: International Education Standard (IES) 7, Continuing Professional Development: A Program of Lifelong Learning and Continuing Development of Professional Competence, December 2010 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). Our responses to the questions on the changes resulting from applying the clarity drafting conventions are detailed below. Comments from applying the clarity conventions (1) We believe that the objectives to be achieved by the member body as stated in the proposed IES are appropriate. However, we suggest rewording the opening sentence of the objective to improve consistency with the new clarity drafting conventions and with wording used in standards issued by other IFAC standard setting boards such as the International Auditing and Assurance Standards Board. The IES should contain a clear statement of the objectives to be achieved by the member body. Our suggested rewording would clarify that the member body is the one responsible for achieving the objective. We suggest the following wording for the first sentence of paragraph 7: The objective of

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