Within the ASEAN Economic Community (AEC), accounting professionals are regulated by many international standards such as the International Financial Reporting Standards (IFRS), and the International Education Standards (IES). This is so because accounting professionals are one of eight free service areas that have been included in the Mutual Recognition Arrangement (MRA) since 2009 (Srijunpetch, 2009). This arrangement stipulates that people working in the accounting area can move freely from one to another member country of the AEC in order to work. However, different accounting education regulations and standards are applicable in each member country. Therefore it is important to have international accounting education standards that are acceptable in all the AEC countries individually and the ASEAN Federation of Accounting (AFAC) has drawn up the International Education Standards for Accounting Professionals (IES) to improve and develop the quality and competency of accounting students in AEC member countries. In Thailand, the Federation of Accounting Professions has administered the IES for Thai accounting students since 2011.