Singapore 2024 Sustainability Reporting and Accountancy Education Slides

Singapore 2024 Sustainability Reporting and Accountancy Education Slides

1. Sustainability Reporting and
Accountancy Education
Proposed revisions to the International Education
Standards (IESs)
Bruce Vivian, Head of Accountancy Education
April 25, 2024

2. IESs: Global Baseline for Accountancy Education
2
AUTHORITATIVE

FOR IFAC MEMBER ORGANIZATIONS

3. Examples of IES learning outcomes
3

4. IES Revision Process
4
PROJECT
PROPOSAL
INFORMATION
GATHERING
PANEL DECISION
TO REVISE
DRAFTING OF
EXPOSURE
DRAFT
ISSUING OF
EXPOSURE
DRAFT
LED BY THE INTERNATIONAL PANEL ON ACCOUNTANCY EDUCATION & IFAC STAFF
DUE PROCESS OVERSEEN BY IFAC BOARD

5. SRP Information Gathering
5
Stakeholder outreach
SSBs IFAC Advisory Groups
stakeholder engagements
Literature review
Academic
Professional
Firms
❑Competencies
❑Education
strategies
❑Challenges
SRP
and
Educators
Jan Preparers, Auditors,
Investors, Regulators,
PAOs, Academics,
Sustainability Experts.
Leverage AI
>70
Global survey
Issued in four languages
Competency
framework
mapping
300+
countriesresponses
78

6. SRP Completed and Planned Output
6
EXPOSURE DRAFT
Next steps
❑Non-authoritative
guidance
❑Consideration of
IES 8
Final IES
Revisions
- Nov 2024 -

7. Overall approach
7
Initial Professional
Development
Changes to IESs 2, 3, 4
CPD needs to be addressed through
guidance and other resources
Integrated
Incorporating ‘What’s new’ across
competence areas and learning
outcomes
Global baseline
What’s the appropriate minimum
education standard?
Alignment to ISSB, IAASB and IESBA

8. Integrating sustainability into…
Business
acumen
Strategy and
decision-making
Systems-thinking
Considering
alternatives
Data &
information
Metrics and targets
Value chains
Scenario analysis
Behavioral
Collaboration and
communication
Multi-disciplinary
teams
Informed
conclusions
Intellectual curiosity
and adaptability
Reporting
Sustainability
policies
Preparing and
interpreting
sustainability
disclosures and
reports
Assurance
New competence
area
Sustainability
assurance focus
8
Ethics as the foundation for all professional activities
Bias, communications, work of others and external experts

9. Next Steps and Capacity Building
9

10. Next steps
10
COMMENT PERIOD
OPEN UNTIL JULY
24, 2024
REVIEW COMMENT
LETTERS AND
UPDATE REVISIONS
IFAC BOARD –
NOVEMBER 2024
PROPOSED
EFFECTIVE DATE –
JULY 1, 2026

11. Capacity building
Preparers
Assurance
providers
Educators
Future
accountants
Non-
accountant
experts
Regulators
11

12. A multi-stakeholder approach
12
Accountancy
Educators
Professional
Accountancy
Organizations
Non-accounting
Educators
Firms & Other
Employers
Keeping alignment between
education and emerging practice

13. 13