The International Federation of Accountants intends to revise the International Education Standards to focus more on sustainability reporting and assurance competence.
IFAC said Monday it plans to begin a public consultation on proposed revisions to the standards in March. The organization has already found from its stakeholder outreach and research that while professional accountants' skills and training are transferable to sustainability reporting and assurance, there's a need for a focus on sustainability in the International Education Standards. The planned revisions will include some new and revised learning outcomes for professional development programs to prepare accountants for the demands for sustainability reporting and assurance. IFAC will be revising International Education Standards in partnership with the IFAC International Panel on Accountancy Education.
"As sustainability reporting and assurance become mainstream, professional accountants have a unique opportunity to lead and bring value," said IFAC CEO Kevin Dancey in a statement. "Professional accountants should begin their journey now to develop or enhance sustainability reporting and assurance abilities. It is imperative that we all commit to personal professional development, ensuring that we are ready to meet the moment with the competence and due care that define our profession."
IFAC is encouraging its member organizations to improve their current learning requirements with respect to sustainability and to recognize those courses offered by others, including the International Financial Reporting Standards Foundation's anticipated e-learning course.
