1. Information & Communications Technology (ICT) Taskforce
Issues Paper
IAESB Meeting
New York
July 11-12, 2018

2. ICT Taskforce
Ready, set….

3. ICT Taskforce Objectives
Obtain sufficient evidence through information gathering activities to evaluate whether current IESs are fit for purpose in the digital age.
Recommend standards development activities that are responsive to the needs of stakeholders.

4. ICT Elements Business Acumen Behavioural Competence Digital Acumen
ICT Taskforce
ICT Elements
Business Acumen
Behavioural Competence
Digital Acumen
Data Interrogation, Synthesis and Analysis
Communication

5. Conclusions Reached at April 2018 Board Meeting
ICT Taskforce
Conclusions Reached at April 2018 Board Meeting
Revise IESs
Speed of Change
Initial Mapping
Evidence

6. Sources of Evidence Scope Breadth and depth of outreach extensive
ICT Taskforce
Sources of Evidence
Scope
Breadth and depth of outreach extensive
Multiple methods used
Targeted approach after indication of further engagement
Active engagement through webinars and roundtables
Non-traditional analysis performed
Additional Benefits
Combining outreach with Board meetings
Increase awareness of IAESB across multiple stakeholder groups
Comparison of “what is important” across different stakeholders

7. ICT Taskforce
Sources of Evidence
Member bodies, academics, other interested stakeholders, representatives of STAREP, regulators, small and medium practices, sole practitioners, other professional accounting organizations, Public Sector Accounting Standards Board members, American Accounting Association, Public Accountants in Business Committee, Financial Executive Institute, Global Accounting Alliance, Literature Review, Articles, Evaluation of ISAs, Auditing Standards Issued by PCAOB, Code of Ethics and competency frameworks.

8. Development of Competencies and Skills
ICT Taskforce
Development of Competencies and Skills
ICT Elements
Learning Goals
Granular Skills
Completed by Taskforce

9. Development of Competencies and Skills
ICT Taskforce
Development of Competencies and Skills
ICT Elements (5)
Business Acumen
Data Interrogation, Synthesis, and Analysis
Digital Acumen
Communication
Behavioral Competence

10. Development of Competencies and Skills
ICT Taskforce
Development of Competencies and Skills
Agenda Item 3-4
Learning Goals (28)
Cumulative knowledge obtained through the information gathering activities
Taskforce’s judgment as to an ICT skill to be reasonably inferred from the statement or reference from the source
These are not learning outcomes but we recommend that these serve as the basis for learning outcomes for the purpose of the Taskforce’s work through June 2019

11. Development of Competencies and Skills
ICT Taskforce
Development of Competencies and Skills
Agenda Item 3-4
Granular Skills (92)
Recognition that learning outcomes can be more useful to support implementation while retaining a principles-based approach
Redefine minimum requirements prompted by changing environment
The granular skills are not learning outcomes, but can serve as the basis to develop learning outcomes

12. Results Category Top ICT Element Member bodies
ICT Taskforce
Results
Category
Top ICT Element
Member bodies
Behavioral competence and communication
Other stakeholders
Behavioral competence
Literature
Communication
Standards
Business acumen
Frameworks
Digital acumen

13. Analysis of Elements - All
ICT Taskforce
Analysis of Elements - All

14. Analysis of Elements – Member Bodies
ICT Taskforce
Analysis of Elements – Member Bodies

15. Analysis of Elements – Other Stakeholders
ICT Taskforce
Analysis of Elements – Other Stakeholders

16. Analysis of Elements – Literature
ICT Taskforce
Analysis of Elements – Literature

17. Analysis of Elements – Standards
ICT Taskforce
Analysis of Elements – Standards

18. Analysis of Elements – Frameworks
ICT Taskforce
Analysis of Elements – Frameworks

19. Occurrences Number of Occurrences Element 0-10 11-20 21-30 31-40 21+
ICT Taskforce
Occurrences
Number of Occurrences
Element
0-10
11-20
21-30
31-40
21+
Behavioral Competence - 1 2
Business Acumen
Communication
Data Interrogation, Synthesis and Analysis
Digital Acumen 3
Total 7 4 6

20. ICT Taskforce
Qualitative Factors
The sources contemplated the relative degree of importance to the source. Taskforce does not recommend qualitative factors be developed and used in determining which Learning Goals and/or Granular Skills should be used to support the development of Learning Outcomes.

21. Minimum Number of Occurrences
ICT Taskforce
Minimum Number of Occurrences
Sufficient evidence is needed prior to inclusion of a learning outcome. Taskforce recommends a minimum number of occurrences for each learning goal before they are further developed into Learning Outcomes.

22. ICT Taskforce
Question
What is the Board’s point of view on the conclusions reached by the Taskforce on the exclusion of qualitative factors and the need to determine a minimum number of occurrences?

23. ICT Taskforce
Questions
B. The Taskforce has concluded the process to develop an inventory of learning goals from information gathering activities is sufficient. Does the Board agree? C. Is the approach to developing granular skills based on the learning goals appropriate? If not, does the Board have any further recommendations to improve the approach?

24. Basis to Develop Learning Outcomes?
ICT Taskforce
Basis to Develop Learning Outcomes?
Options A
Learning Goals 
Learning Outcomes B
Granular Skills 
Paragraph 26
Combination

25. ICT Taskforce
Questions
D. What is the Board’s point of view on whether Option A, Option B or a combination is more useful and meaningful to stakeholders?
E. Based on your knowledge and experience are there any gaps to the inventory of learning goals?

26. ICT Taskforce
Example Gap Analysis
Paragraph 27
F. What is the Board’s point of view on whether the example gap analysis achieves its intended objective to demonstrate the basis for additions or edits to Learning Outcomes?

27. Recommended by the Taskforce
ICT Taskforce
Priority Project - ICT
Recommended by the Taskforce
Revise IES 2,3,4 and 8 and develop non- authoritative guidance
Public document issued which consists of exposure draft and non-authoritative guidance - October 2018
Analysis of comments and revisions - April 2019
Issue new standards and accompanying non- authoritative guidance – June 2019

28. Issue non-authoritative learning outcome tables for IES 2, 3, 4 and 8
ICT Taskforce
Priority Project - ICT
Considered
Issue non-authoritative learning outcome tables for IES 2, 3, 4 and 8
Wrap up work after July 2018 Board meeting and transition evidence obtained to new IFAC panel/board

29. Issue revised standards Issue non-authoritative guidance
ICT Taskforce
Next Steps – ICT
Issue revised standards
Issue non-authoritative guidance
Package additional learnings from outreach activities
[Stop] Assessment of proficiency levels and competency areas and any further implementation guidance

30. ICT Taskforce
…adapt!