SCAAK part of the International Forum for Accountancy Education Directors and Development of Professional Organizations

Representatives from SCAAK attended the International Forum for Accountancy Education Directors and Development of Professional Organizations, organized by the International Federation of Accountants (IFAC) Recent changes worldwide, in the economy and other areas, have led to significant changes for professional organizations and the accountacy profession.

To keep the profession up-to-date, international standard setting bodies have introduced proposed revisions to standards. These proposals, from the standard-setting bodies, were discussed by participants to identify key elements and new innovative ways to enter the profession and ensure these changes are successfully implemented by all important stakeholders before they were released for public discussion as exposure drafts.

During the forum, it was worked on proposed revisions of the International Standards of Education, such as the revision process of IESs, an update on IES 6- Evaluation of Professional Competencies, and revisions of IESs for Sustainability, as well as the challenges that professional accountancy organizations might face during their implementation.

The forum also highlighted the increasing importance, reputation, and value of the global accountancy profession as a key driver of strong and stable institutions, financial markets, economies, and society. Discussions included the role of accountants and auditors in fighting corruption, the use of artificial intelligence in the profession, and future certifications and professional qualifications.

With the updating of international standards, it's important to discuss issues like finding ways to avoid curriculum overload, so that the profession stays relevant and attractive to new generations.