Podcast
Questions and Answers
What is one of the key areas that accountants will focus on in sustainability reporting?
What is one of the key areas that accountants will focus on in sustainability reporting?
How will the role of accountants change regarding business models in a sustainability context?
How will the role of accountants change regarding business models in a sustainability context?
Which of the following is NOT a responsibility of accountants in the context of sustainability reporting?
Which of the following is NOT a responsibility of accountants in the context of sustainability reporting?
What skill is emphasized for accountants to adapt to new reporting requirements in sustainability?
What skill is emphasized for accountants to adapt to new reporting requirements in sustainability?
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What aspect of their training will accountants enhance to support sustainability-related activities?
What aspect of their training will accountants enhance to support sustainability-related activities?
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Which type of metrics will accountants be expected to establish for measuring performance in sustainability?
Which type of metrics will accountants be expected to establish for measuring performance in sustainability?
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What characteristic will accountants need to develop further to respond to sustainability challenges?
What characteristic will accountants need to develop further to respond to sustainability challenges?
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What is a primary focus for accountants when analyzing governance, risk, and performance management due to sustainability?
What is a primary focus for accountants when analyzing governance, risk, and performance management due to sustainability?
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Study Notes
Technical Expertise
- Accountants already possess skills in understanding and evaluating business models, interpreting regulatory requirements, analyzing strategic decisions, and developing governance and risk management procedures.
- They will expand their expertise by understanding and applying sustainability-related reporting and assurance standards, establishing new performance measurement methods, analyzing sustainability data sets, designing systems and processes for sustainability reporting, using judgment in sustainability contexts, and producing high-quality sustainability disclosures.
Business Acumen
- Accountants have experience in producing high-quality financial reports, interpreting non-financial data, and supporting management decision-making.
- They will develop a systems-thinking approach to understand how the global sustainability landscape impacts business models, value chains, and strategies.
- This will involve recognizing the interconnected nature of financial and sustainability risks and opportunities, evaluating sustainability's impact on governance, risk, and performance management, providing sustainability-related information to management, and producing quality sustainability information for various stakeholders.
Behavioral Competence
- Accountants are analytical thinkers, demonstrating resilience, flexibility, intellectual curiosity, and strong interpersonal skills.
- They will apply their analytical skills and accounting knowledge to new data types and reporting requirements, utilizing critical thinking and problem-solving skills to analyze future scenarios, including risks and uncertainties, and weigh alternatives.
- Accountants will further enhance their adaptability, agility, and collaborative skills to effectively work in multidisciplinary teams with a wider range of experts, and communicate effectively with both internal and external stakeholders.
Ethics and Professional Values
- Accountants adhere to the IESBA Code and national requirements to maintain a strong ethical foundation, attaining and maintaining professional knowledge and skills to protect the public interest.
- They will continue to prioritize ethics by applying revised ethical standards for sustainability reporting and assurance, considering ethical threats within the context of sustainability, and exercising professional judgment and skepticism when preparing or providing assurance on sustainability-related disclosures.
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Description
This quiz focuses on the essential skills accountants need to expand their expertise in sustainability-related reporting and assurance standards. Participants will explore how sustainability impacts business models and decision-making processes, developing a systems-thinking approach. Test your knowledge on governance, risk management, and sustainability disclosures in the accounting field.
