In 2013-14 the Australian Business Deans Council (ABDC) commissioned the development of finance learning standards for Australian bachelor and coursework masters degrees, supported by the Office for Learning and Teaching (with funding of $10,000) and by the Accounting & Finance Association of Australia and New Zealand (AFAANZ).
A Working Party of senior academics, under the leadership of Associate Professor Kevin Tant from Monash University, developed the finance learning standards consulting extensively with the academic and practitioner finance community. The Working Party received high-level advice from a Finance Expert Advisory Group, chaired by Professor Iain Watson, Executive Dean, The University of Queensland and was supported by ABDC Scholar Associate Professor Mark Freeman.
Finance is the fourth business discipline to develop learning standards. Finance standards have previously been developed in the UK (called Benchmark Statement for Finance) under the auspices of the Quality Assurance Agency (a body similar to our TEQSA). The resulting Academic Learning Standards for Finance in the Australian Higher Education Context build on international best practice and provide a valuable benchmarking resource for Australian business schools especially when designing finance degrees or evaluating performance or intended learning outcomes, as required under the Higher Education Standards Framework. For more details see media release.
Final Learning Standards