IFAC updates education standards to embed sustainability skills
The International Federation of Accountants (IFAC) has revised the International Education Standards (IES) to incorporate sustainability-related competencies into professional accountancy training.
These updates aim to equip future accountants with the skills needed to meet the growing demand for sustainability reporting, assurance, and analysis.
The revisions impact IES 2, 3, and 4, embedding sustainability concepts across technical competence, professional skills, and ethics. Key changes include a new assurance competence area, an enhanced focus on business acumen, and expanded guidance materials to help training institutions implement the new standards. The updates reflect the evolving role of accountants in integrating financial and sustainability data, ensuring they can assess ESG impacts on business strategy.
These changes align with the expansion of mandatory sustainability disclosures worldwide. As sustainability reporting becomes integral to corporate transparency, these updates help ensure accountants are well-prepared to support high-quality, sustainability-related disclosures.
For more details, read the announcement here.
