Sustainability Education in Accounting and Finance: Opportunities, Challenges and Strategies

Abstract

The growing demand and mandatory requirements for sustainability practices and reporting have increased stakeholders’ attention to Sustainability Reporting (SR) globally. SR quality depends on the competence of the responsible party (firms/management) and the practitioner (auditors/assurers). Sustainability education in accounting and finance is more likely to increase the competence of accounting and finance professionals. This chapter explores the importance, opportunities, challenges and strategies of sustainability education in accounting and finance. Emerging interests, awareness, research and developments, regulatory arrangements and requirements, technological advancements, investments, interdisciplinary learning approach, professional development, lifelong learning, corporate social responsibility and ethical business practices and globalisation towards sustainability practices and reporting are key opportunities for sustainability education in accounting and finance. However, the lack of a standardised framework, the early stage of global sustainability-related standards, resource constraints, differences among economies, measurement and reporting difficulties and limited support for sustainable practices and reporting are challenges in this education. This chapter identified and discussed several challenges and opportunities in sustainability education in accounting and finance based on developments towards sustainability practices and reporting. It contributes to a better understanding of sustainability education in accounting and finance, opportunities, challenges and strategies. It provides insights into practical implications for stakeholders, especially policymakers, international bodies, academic and professional institutions and educators (academics). Due to the growing global interest and demand for SR, sustainability education in accounting and finance is more likely to be a top global agenda for relevant stakeholders such as policymakers, academic and professional institutions, educators and researchers over the next decade.