The relationship between academic accounting education and professional training has always been contentious, the goal being to move accounting
preparation on to a more efficient, economic and practical basis.
The issues arising about the alignment lie at the relationships between
the professional knowledge base,
learning in a university on the one hand, and professional practice on the other, and
the skills to be acquired before entrance into the profession, and the skills to be acquired after.1
The International Accounting Standards Board's (IASB) project, developing IASs/IFRSs, has been boosted
by support of the key stock exchanges The International Organization of Securities Commissions
IOSC0, the global standard setter for securities markets regulation and its regulatory importance.
Purpose: Two Qualifications in One
The giant international corporations have spread systems of internal accounting, control and financial reporting throughout the world, helped by
the very large accounting firms, or the Big Four, which are clearly global.
Elite international Schools of Business including Cornell in Ithaca NY, Ivey in Canada, LSE in London England, Bocconi in Milan Italy, National University
of Singapore, Korea University in Seoul and others,
are forming exclusive Global
Alliances in Education only one per country to lift themselves out of this alignment conundrum in order to preserve their status and
autonomy and attract high-performing students, preparing them for visible and lucrative careers in accounting and related professions, government, commerce
and industry all this at a time when student enrollment is shrinking, and colleges and universities start closing down. See
"2019 College Financial Health Grades: How Fit Is Your School?" let alone the "Impact of Coronavirus on Internatinal Recruitment," published by
IICPA was founded in 2003 as a forum for university accounting faculties and has kept up a dialogue with central bankers, ministers of finance and
the profession on
pressing issues. It has list of
Institutional Academic Members of international schools of
business. The present UAAEd Universal Alliance in Accounting Education is obviously in the trend.
Under this UAAEd's alliance, bachelor's and master's business and economics students are qualified to sit for the IICPA's uniform professional examination in their final year to earn
the professional accounting designation "International Certified Professional Accountant," the ICPA®
an Associate designation ACPA® is available
for two-year accounting diploma programs in addition to their academic degrees, both of which are granted for life. See also
Elaine Evans, Roger Juchau, Richard M.S. Wilson (2014), The Interface of Accounting Education and Professional Training Routledge.