May 2011: The IAESB approved the release of an exposure draft of IES 5, Practical Experience Requirements for Aspiring Professional Accountants, for public comment until October 8th, 2011. A copy of the exposure draft can be obtained at the following link: Exposure Draft IES 5
March 2011: The IAESB reviewed the 1st draft of the IES 5 and discussed content issues with the aim of developing a revised draft of IES 5. As a result of its deliberations the IAESB decided that the requirements section needed to be reviewed to ensure clarity and conciseness.
November 2010: The IAESB discussed content issues with the aim of developing a 1st draft of IES 5. The IAESB decided that IES 5 should be principles-based and provide sufficient flexibility for member bodies to meet the requirements.
May 2010: The IAESB reviewed findings from the targeted consultations and discussed the implications of the findings on the revision of the Standards' content.
February 2010: The IAESB identified key issues and questions for targeted consultation on the revision
of IESs 1-5.
October 2009: The IAESB considered the project proposal and agreed a project direction for revising the eight International Education Standards.
June 2009: The IAESB identified key issues that should be covered in the project's proposal.
Next Steps
IES 5 (Revised) was released on March 13, 2013 and can be freely downloaded at: IES 5, Initial Professional Development - Practical Experience.