The International Federation of Accountants (IFAC) has revised its professional training standards to incorporate sustainability reporting skills. The organisation said that this change is necessary so that professional accountants worldwide are properly equipped to implement sustainability-related disclosure and assurance standards, including those issued by the International Auditing and Assurance Standards Board, the International Ethics Standards Board for Accountants, and the International Sustainability Standards Board. “IFAC and our members work together to shape the future of the profession through learning, innovation, a collective voice, and a shared commitment to the public interest,” said Lee White, CEO at IFAC. Additionally, the IFAC has updated one of its educational standards – Initial Professional Development – Formal Assessment of Professional Competence – to include two new principles: integrity and authenticity. The principle of equity has also been incorporated into this standard, alongside enhanced guidance on hybrid and remote assessments. The IFAC connects professional accountancy organisations worldwide.
