The Association of International Certified Professional Accountants, representing the American Institute of CPAs and the Chartered Institute of Management Accountants, rolled out an environmental, social and governance training program for accountants Thursday.
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The introduction of the ESG certificate program comes as the United Nations is holding its COP27 climate change conference in Egypt, where delegates are meeting to discuss ways to keep the planet from warming as the frequency of natural disasters such as hurricanes, tornadoes, wildfires and droughts seems to be accelerating along with rising temperatures and sea levels. Accountants have been drawn into the sustainability effort through the increasing popularity of ESG investment funds, and growing demands for companies to account for their efforts at reducing emissions and using more renewable energy.
"When we talk about preparing the accounting profession for tomorrow, ESG is a core component," said Susan S. Coffey, AICPA & CIMA's CEO of public accounting, in a news release. "Business reporting and the underlying concepts of enterprise value are evolving rapidly, and no group is more essential to instilling trust and integrity into that process than accountants. Our obligation as a profession is to make sure we develop the necessary skills and expertise to lead the integration of ESG into the organization and deliver on high-quality reporting and assurance of ESG information."
AICPA & CIMA are planning further training on ESG. For a start, the Fundamentals of ESG Certificate program will provide course takers with the ability to identify key aspects of ESG; recognize the expectations of investors and the impact on business; assess the responsibility of businesses for key ESG issues; recognize the business case for implementing sustainable practices; identify the role of the accounting and auditing profession in sustainability; and recognize the current sustainability reporting frameworks and reporting requirements.
