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Common Content

Common Content. Dominique Ledouble Chairman, Common Content Project. Common Content.

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Common Content

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  1. Common Content Dominique Ledouble Chairman, Common Content Project

  2. Common Content A joint project of nine premier accountancy bodies to unify, to unify, as far as possible, their national entry level qualifications for professional accountants while ensuring that those national qualifications meet the expectations of clients, employers and the public and are attractive to the best graduates

  3. Participating Institutes France Compagnie Nationale des Commissaires aux Comptes (CNCC) Order des Experts-Comptables (OEC) Germany Institut der Wirtschaftsprüfer (IDW) Wirtschaftsprüferkammer (WPK) Ireland Institute of Chartered Accountants in Ireland (ICAI) Italy Consiglio Nazionale dei Dottori Commercialisti ed Esperti Contabili (CNDCEC) Netherlands Koninklijk Nederlands Instituut van Registeraccountants (NIVRA) United Kingdom Institute of Chartered Accountants in England & Wales (ICAEW) Institute of Chartered Accountants of Scotland (ICAS)

  4. Common content (with an international focus and agreed jointly) + National content (with a national focus and determined nationally) = National professional qualification (with an international and national focus and national membership and practice rights) Common Content Model for National Professional Qualifications

  5. Common Content: a Three Stage Approach What do clients, employers and the public expect of professional accountants? What aspects of the services of professional accountants should entry-level professional accountants be able to provide? What knowledge, competences and skills do entry level professional accountants require to provide these services?

  6. Common Content Approach: Stage 1 What do clients, employers and the public expect of professional accountants?

  7. What Do Clients, Employer and the Public Expect of Professional Accountants? • Provide services • assurance and related services • performance measurement and reporting • strategic and business management • financial management • taxation and legal services • Have integrity and a commitment to the public interest • Observe the highest ethical standards

  8. What Do Clients, Employer and the Public Expect of Professional Accountants? • Have high quality assurance, business and finance skills that meet or exceed • international requirements for professional accountants and statutory auditors • EU examination requirements for statutory auditors • Take an integrated and multi-disciplinary approach • Apply international and national knowledge

  9. Common Content Approach: Stages 2 and 3 What do clients, employers and the public expect of professional accountants? What aspects of the services of professional accountants should entry-level professional accountants be able to provide? What knowledge, competences and skills do entry level professional accountants require to provide these services?

  10. What Services Are Provided by Entry-level Professional Accountants? • Entry-level professional accountants should be able to provide those aspects of the services of professional accountants that are specified in • the common learning outcomes in all jurisdictions • the national learning outcomes relevant in those jurisdictions in which they wish to obtain practice rights or membership rights

  11. What Knowledge, Competences and Skills Do Entry-level Professional Accountants Require? • Entry level professional accountants should • have acquired the professional and other knowledge necessary to achieve the common and national learning outcomes • have acquired the interdisciplinary and other competences and attributes necessary to achieve the learning outcomes • be able to adopt an integrated and multi-disciplinary approach to the provision of services

  12. Skills Framework

  13. Education and Assessment for Entry-level Professional Accountants • The acquisition of entry-level qualifications requires • the completion of a programme of professional education* • at least three years practical experience in the work of a professional accountant • the formal assessment* of knowledge, competences and attributes at the agreed academic level * in accordance with the national framework

  14. Common content (with an international focus and agreed jointly) + National content (with a national focus and determined nationally) = National qualification (with national membership and practice rights) Possible Cooperation on National Education Frameworks Common education and training

  15. Institutes with the responsibility to grant their qualifications commit to implement directly Institutes without the responsibility to grant their qualifications commit to use their best endeavors to achieve implementation through government agencies, universities and other relevant bodies Implementing Common Content inNational Professional Qualifications Institutes must support the implementation of Common Content requirements in their national qualifications

  16. Implementing Common Content inNational Professional Qualifications • Institutes must participate in an oversight process that confirms the implementation of Common Content requirements in national qualifications • The oversight process consists of • a self-assessment by each Institute • a review of self-assessment by the project steering group • public assurance provided by an oversight committee which includes independent members (Jules Muis and Jens Wüstemann)

  17. Implementing Common Content inNational Professional Qualifications • Current status in participating Institutes • self-assessments (completed, 2008) • reviews of self-assessments (completed, 2008) • steering group conclusion that all participating Institutes achieved high degree of consistency and met requirements for continued membership (November 2008) • public assurance by oversight committee (March 2009)

  18. Expanding the Membership to Other Institutes • Expand the membership to other Institutes which • share the membership values of Common Content, in particular the “national qualification” model, the benefits of working together and mutual trust • have implemented Common Content requirements in their national professional entry-level qualifications

  19. Using Common Content to Improve Qualifications • Assist other Institutes which aspire to improve their entry-level professional qualifications and which • share the membership values of Common Content, in particular the “national qualification” model, the benefits of working together and mutual trust • aspire to membership of the Common Content project • wish to achieve compliance with Common Content requirements or use significant parts of Common Content requirements to improve the equivalent parts of their national qualifications

  20. Common content + National content = National qualification (with national membership and practice rights) Mobility Through Mutual Recognition + Foreign national content = Foreign qualification (with foreign membership and practice rights)

  21. Common Content Project Dominique Ledouble Chairman, Common Content Project

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