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Sustainability - Jobs and Skills for the Accountancy Profession
Sustainability is a megatrend offering new opportunities and jobs for the accountancy sector. This study found three key trends in sustainability that will expand the current job roles and skills required for accountancy and finance professionals. The three key trends are: 1) Decarbonisation of the environment, 2) More companies participating in sustainability reporting, and 3) the Expansion of green finance. Given these sustainability trends, Accountancy and finance professionals must be equipped with sustainability and ESG-related knowledge and skills to meet the increasing demands in these three areas.
The study also found that preparers and assurance service providers would see an expansion in their roles in areas such as carbon trading, carbon accounting, sustainability risk management, and more. In addition, the study identified the Chief Finance & Sustainability Officer (CFSO) as an emerging C-Suite position to oversee the integration of finance and sustainability into business strategy. Accountancy and finance professionals, with their financial expertise, are in an advantageous position to helm the emerging role of the CFSO.
This joint study by the Institute of Singapore Chartered Accountants, Ernst & Young Advisory Pte Ltd, Singapore Management University, and Singapore Accountancy Commission, was conducted via interviews with 23 C-Suite leaders across 10 business sectors.