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Page 1 | Proprietary and Copyrighted Information
Pathways to Growth: Changing
with the Times
Sidharta Utama
Member, International Accounting
Education Standards Board
Ikatan Akuntan Indonesia
Konvensi Nasional Akuntansi VIII
Bandung, 8 Desember 2017
Page 2 | Proprietary and Copyrighted Information
Outline
• Environmental Changes - Accounting Profession
• Expected future competencies for:
– External Auditors
– Professional Accountants in Business
• The need for Competence-Based Continuing Professional
Development (CPD)
• CPD Cycle
Page 3 | Proprietary and Copyrighted Information
Competencies of
professional accountants
Increased regulation &
stronger governance
The spread of digital
technologies
Expanding expectations
Continued globalization
Other external drivers
Environmental Changes of Accounting Profession
Source: ACCA
(2016)
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Improving and Maintaining Competence
Constant change in relevant environement:
public expectation, globalization, advances
in technology, business complexity,
societal changes, stakeholder groups
Need to develop and maintain professional competence
Satisfy users’ needs which contributes to an efficent economy and value to society
Page 5 | Proprietary and Copyrighted Information
Developing Professional Competence
INDIVIDUAL
ASPIRING
PROFESSIONAL
ACCOUNTANT
PROFESSIONAL
ACCOUNTANT
IES 1
IES 2 – IES 6
CONTINUOSLY
IMPROVING
PROFESSIONAL
ACCOUNTANT
IES 7
Page 6 | Proprietary and Copyrighted Information
Benefits of CPD
IESs 7 & 8
CPD
Maintains Public Confidence &
Trust
Supports High-Quality
Professional Service
Assists in Achieving
Career Goals
Improves Relevance & Productivity
Helps in Coping with
Change
Facilitates Learning Agility
Guidance Materials (2015)
• Webcasts on Implementation of IES 8
– Professional Accountancy Organizations
– Public Accounting Firms
– Engagement Partners
• Frequently Asked Questions
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IES 7
• Promote CPD and maintenance of
professional competence
• Facilitate access to CPD opportunities
and resources
• Require all professional accountants
to undertake CPD
• Establish the preferred approach to
measuring CPD from output-based,
input-based or combination
approaches
• Establish a systematic process to
monitor CPD requirements and
provide appropriate sanctions
Continuing Professional Development
Requirements (2014 Q1)
Page 8 | Proprietary and Copyrighted Information
What does a learning outcomes approach mean?
• Emphasize the outcome and not the learning process
• Demonstrated competence
• Programs are designed to enable the individual to achieve the
learning outcomes
Learning Outcomes Approach
Page 9 | Proprietary and Copyrighted Information
Benefits of Learning Outcomes Approach
IESs 2, 3, & 4
Learning Outcomes Approach
Learner-centric
Focuses Curriculum
Facilitates Quality
Assurance
Accommodates Various Learning
Styles
Promotes Innovation in
Teaching Encourages
Responsibility
• Value Statement
• Guiding Principles
• Illustrative Examples of Practice
– Designing Curricula & Learning Outcomes
– Setting & Marking Examinations
– Mapping Curricula to Learning Outcomes
– Designing Higher Education Programs
– Addressing Governance Structures
• Frequently Asked Questions
Guidance Materials (2016)
Page 10 | Proprietary and Copyrighted Information
Significant Value
Public Interest
Learning Outcomes -
Effective Programs
Demonstrated Competence - Life-long Value to the Individual
Quality Service - Increased Stakeholder Confidence
Reputation of Program Provider - Enhanced
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Competency vs Non-Competency based CPD:
Continuous Improvement of Professional Competence
0
1
2
3
4
5
6
7
8
Year 1 Year 3 Year 5 Year 7
Competency basedCPD
Non-Competencybased CPD
Page 12 | Proprietary and Copyrighted Information
Competence-Based CPD Cycle
Source: CIPD, The CPD
Cycle,www.iucnredlist.org/
details/39779/0
Page 13 | Proprietary and Copyrighted Information
Identify and Plan
• Identify: Analysis of Competence – Past, Present,
Future
– Consider the impact of changes in environment to required
competence
• Plan: Identify how to acquire and demonstrate
desired competence
– Plan provides the guidance to follow, not a strict plan you
have to stick to.
CPD Cycle
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Act and Reflect
• Act: Obtain practical resources, learning new
competences (including at work)
• Reflect:
– Make sense of learning experiences and transform them into
insights and practical strategies for personal growth and
organizational impact.
– It requires space (mental and physical) so you can reflect
deeply with few or no distraction.
CPD Cycle
Page 15 | Proprietary and Copyrighted Information
Apply and Share
• Apply
– Develop a strategy for how you will apply the learning
– Create opportunities where you can continually revisit learning
through application
• Share
– Sharing your learning in communities of practice in order to generate
greater insight and benefit from the support of your community
– Many lessons to be learned through feedback and iteration
CPD Cycle
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• Assess how and what have you done to improve services, reduce costs, increase
revenue, save time, etc.
• Evaluate progress against the objectives you set at the beginning of the year:
– What have I learnt?
– Did I achieve my learning outcomes?
– What kind of unplanned outcomes or challenges arose from this experience?
– Which barriers or blocks did I have to overcome?
– How have I applied this this learning at work?
– What was the impact of this learning to my organization (tangible measurements, if
possible)?
– What lessons can I take from this experience?
CPD Cycle
Impact
Page 17 | Proprietary and Copyrighted Information
• ACCA, 2016, Professional Accountants – the Future.
• Barac, K., E. Gammie, B. Howieson, M. Van Staden, 2016, The Capability
and Competencies of Auditors in Today’s Complex Global Business
Environment, ICAS & FRC.
• CIPD, The CPD Cycle, www.iucnredlist.org/details/39779/0
• IAESB, 2016, The Role and Application of International Education
Standards of the IAESB, Powerpoint presentation
• Vitale, A.M., 2015, The Initial and Continuous Development of
Accountants in a Global Environment and International Accounting
Education Standards: A Learning Outcomes Approach, IAESB,
Powerpoint presentation
References
