The document summarizes IES 2, which establishes learning outcomes for the technical competence required of aspiring professional accountants by the end of their initial professional development (IPD). It outlines the standard's scope, objective, and key requirements. IES 2 prescribes 11 competence areas and 46 learning outcomes. It also requires accounting education programs to be regularly reviewed and updated, and for assessment activities to measure whether learners achieve the defined technical competence. The standard is effective as of July 1, 2015 and aims to protect the public interest by enhancing the quality of accounting education and accountants' competence.

1. Page 1 | Confidential and Proprietary Information
IES 2, Initial Professional
Development – Technical
Competence (Revised)
IES Implementation Support Material
Prepared by: IAESB staff
April 2015

2. Page 2 | Confidential and Proprietary Information
Overview of Presentation
IES 2, Initial Professional Development – Technical Competence (Revised)
 Introduction
 Scope: Who? What? When? Why?
 Objective
 IES 2 establishes the technical competence to perform a role as a
professional accountant
 Requirements & Explanatory Material
 Prescribe learning outcomes to be achieved by aspiring professional
accountants by the end of IPD
 Review & update professional accounting education program
 Establish assessment activities to measure achievement of technical
competence

3. Page 3 | Confidential and Proprietary Information
Introduction - Scope
IES 2, Initial Professional Development – Technical Competence (Revised)
What?
 Prescribes learning outcomes for technical competence required by the
end of initial professional development
Who?
 Targets IFAC member bodies, helpful to accountants, providers,
employers, regulators, & government authorities
When?
 Effective date: July 1, 2015
Why?
 To protect the public interest by improving the quality of professional
accounting education to enhance competence and judgment of
professional accountants

4. Page 4 | Confidential and Proprietary Information
Objective
IES 2, Initial Professional Development – Technical Competence (Revised)
IES 2 establishes the technical competence needed by
aspiring professional accountants
 Establishing technical competence serves to
 Protect the public interest
 Enhance the quality of work by professional accountants
 Promote the credibility of the accountancy profession
 Requiring technical competence to be achieved by the end of IPD to
 Perform a role as a professional accountant

5. Page 5 | Confidential and Proprietary Information
IES 2, Initial Professional Development – Technical Competence (Revised)
Prescribe learning outcomes to be achieved by aspiring
professional accountants by the end of IPD
 11 Competence Areas & accompanying Proficiency Levels
 46 Learning Outcomes
 IFAC Member Body may:
 include additional competence areas;
 increase the level of proficiency for some competence areas; or
 develop additional learning outcomes
Requirements

6. Page 6 | Confidential and Proprietary Information
Requirements
IES 2, Initial Professional Development – Technical Competence (Revised)
Review & update professional accounting education
programs
 Design supports aspiring professional accountants
 Includes formal education & workplace training
 Design may involve substantive input from stakeholders other than
IFAC member bodies
 Regularly review & update
 Typical cycle 3 to 5 years
 More frequent when changes occur to legislation, regulations & standards
relevant to professional accountants

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Requirements
IES 2, Initial Professional Development – Technical Competence (Revised)
Establish assessment activities to measure achievement
of technical competence
 Assignment principles of IES 6 apply to design assessment activities
 Various assessment activities can be used to measure achievement of
the technical competence (e.g., written examinations, case studies,
written essays, objective testing, workplace assessments, evaluation
of prior learning)

8. Page 8 | Confidential and Proprietary Information
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IES 2, Initial Professional Development – Technical Competence (Revised)