This Standard prescribes the practical experience and training member bodies should require their members to obtain to qualify as professional accountants.

International Education Standards for Professional Accountants (IES) prescribe standards of generally accepted "good practice" in the education and development of professional accountants. IES express the benchmarks that member bodies are expected to meet in the preparation and continual development for professional accountants. They establish the essential elements of the education process at a level that is aimed at gaining international recognition, acceptance and application of the education process. Hence, member bodies must consider these prescriptions.

This Standard requires member bodies to implement a mandatory continuing professional education and development (hereafter referred to as continuing professional development or CPD) program. CPD is an important aspect of serving the public interest and fosters values of continuous learning and greater professional competence among professional accountants to better meet client and employer needs.

This Guideline is intended to assist member bodies in establishing a requirement for an effective program of continuing professional education and development (hereafter referred to as continuing professional development or CPD) for members, as prescribed in the proposed International Education Standard, "Continuing Professional Education and Development".

The aim of this Standard is to ensure that candidates for membership of an IFAC member body have enough advanced professional education to enable them to function as competent professional accountants in an increasingly complex and demanding environment. The issue of keeping up this competence is dealt with in IES 100, "Continuing professional education and development."

This Standard prescribes the requirement for a process of assessment of a candidate