Accounting curricula and climate-related sustainability: evidence from Australia and New Zealand universities

Abstract

ABSTRACT To address climate-related sustainability risks, the global financial system has implemented standards that require entities to disclose information in their financial statements regarding governance processes, controls, and strategies for managing climate-related risks and opportunities. As a result, accountants require knowledge and skills for recording, reporting, measuring and advising on these matters. In response, our study investigates the extent to which climate-related sustainability topics are evident in accounting curricula at 42 Australian and New Zealand universities. Following data collection between November 2022 and April 2023, using contextual thematic analysis, we analyze 1520 subjects and their 7590 intended learning outcomes (ILOs) from 42 undergraduate and 40 postgraduate accounting courses. Findings show that climate-related sustainability is referenced in only 232 subjects and 355 ILOs. As such, since most subjects have only one ILO related to climate-related sustainability, the topic would seem to typically be addressed through adaptations to existing subjects. Further, given the significant number of universities with ≤4 subjects that make reference to climate-related sustainability topics, together with a focus on skills being evident in only 91 ILOs, our findings suggest that much remains to be done to develop accountants’ requisite knowledge and skills.