Last updated: 23 Jul 2024 04:30 Posted in: AIA
The Association of International Accountants (AIA) welcomes proposed revisions to the International Education Standards (IESs) issued in April 2024, emphasising the integration of sustainability across accountancy qualifications.
AIA supports the International Federation of Accountants' (IFAC) approach of embedding sustainability within existing standards rather than creating a separate standard, which aligns with its commitment to equip members and students with the key skills needed to champion sustainable reporting in business.
AIA also endorses the separation of assurance from audit in the standards and recognises the growing importance of assurance services related to sustainability. However, this should be considered carefully to avoid confusion the separation may cause and ensure adequate highlighting of the necessity for transferable skills and specialisation opportunities within the accountancy profession.
Dr Peter Ellington, AIA Council Member and Associate Professor at the University of East Anglia, said, “The integrated approach IFAC has taken, incorporating sustainability across existing standards rather than creating a separate standard, is a step in the right direction and aligns with AIA's view that sustainability should be embedded throughout the professional audit and accountancy qualification syllabus.”
AIA advocates for stronger clarity in sustainability concepts and recommends the addition of a supplement to the standards that explains how sustainability applies, with inclusion of core sustainability competencies and advocates for these concepts to be a mandatory part of accountancy education.
AIA's response builds on its role as a professional accountancy membership and qualifying body, supporting its members in providing essential data to clients and preparing future accountants for their key roles in sustainability reporting. AIA is committed to sustainability education and skills development, as demonstrated through its Sustainability Promise and as a signatory of the Sustainable Finance Education Charter.
David Potts, AIA Director of Policy & Regulation, commented: “AIA supports the proposed sustainability revisions to the International Education Standards, which reflect the essential role that accountants play in driving sustainable business practices. Embedding sustainability within the IESs is crucial for preparing future accountants to navigate the complex challenges of our evolving global economy.”
Read the full response Read more on AIAs commitment to sustainability and green finance insights