New guidelines issued on practical accounting experience

New guidance has been issued in relation to practical experience in the field of accounting, it has emerged.

According to reports by Accountancy Age, the new guidance has been issued by the International Accounting Education Standards Board (IAESB) given that the organisation believes such experience to be vital.

Membership of the IAESB is dependent upon nominations by the Transnational Auditors Committee, in partnership with the membership base of the International Federation of Accountants, an organisation established in 1977.

"A period of practical experience is critical to the development of professional accountants, enabling them to cultivate and demonstrate the knowledge and skills that they have acquired during their education programme," said Henry Saville, chairman of the IAESB.

It is believed the guidance will not only facilitate the development of training programmes, but also act as a framework to help determine the necessary steps towards becoming fully qualified.