Accountants’ role crucial to help firms to achieve climate metrics, says ACCA

by TMR / pic source: ACCA FB

ACCOUNTANTS have a bigger role to play in reporting wider climate risks, diversity and inclusivity practices, while driving corporate governance in the organisation.

According to the Association of Chartered Certified Accountants (ACCA), there is plenty of opportunity revolving around sustainability awareness such as climate emergency and social inequality to advise and support organisations in addressing the risks associated with climate change.

“Honing in on the growing need for expertise in sustainability, ACCA has recently formalised an agreement with the United Nations Global Compact Network Malaysia & Brunei, among other sustainability-driven collaborations, to drive education, upskilling and environmental advocacy among finance professionals,” said ACCA in a statement recently.

The association added it also hosts a collection of research and other resources on its consolidated sustainability hub to supplement its existing continuing professional development educational efforts, which include the Certificate in Sustainability for Finance course aimed at enhancing finance professionals’ know-how in evaluating business value chains and operating models related to sustainability issues.

It addresses the financial implications associated with climate change risks and approaches in environmental, social and governance data interpretation.

“At ACCA, we prioritise studying what these changes are and how they are impacting today’s world and the profession. Our global research work suggests that the ongoing evolutions are progressing rapidly and require immediate actions.

“This is the time to embrace new roles, acquire new skills and stay up-to-date with the economical and global landscape through continuous learning and professional development,” said ACCA Maritime South-East Asia Interim Portfolio head Andrew Lim.

He added as a core business function, the accounting sector needs to embrace and adopt new technologies to enable them to better navigate and lead organisations towards achieving financial sustainability and success in the long run.

“The ACCA qualification and certifications — such as the ACCA Certificate in Business Analytics — developed to help professionals looking to enhance their understanding of data analytical methods and techniques as well as learn how to develop data-driven insights to support their organisation’s decision-making process,” said Lim.

He added with the exponential growth in blockchain technology for the accounting industry, ACCA also offers the bitcoin and blockchain technologies online course to introduce participants to the fundamentals as well as real-world scenarios of cryptocurrencies and blockchain technology, with a bonus section about crypto-mining.