Formulating A Competency Framework for Accountants On Environment, Social and Governance (ESG) Standards and Finance Digitalization

Accountants are one of the most important professions nowadays because, with their education and experience, they can assist the government in building the nation. However, the recent trend shows that the demand for competent accountants is increasing due to the importance of Environment, Social, and Governance (ESG) standards, coupled with the explosion of financial technology. Unfortunately, current working accountants and recent accounting graduates are struggling to meet these international demands, as employers are finding it difficult to find competent accountants who are knowledgeable about ESG and experts in financial technology. Thus, this paper intends to discuss and propose an accounting competencies framework that meets the needs of industries, supports government aspirations to develop via technological advancement, and balances social and economic development based on ESG principles. It is expected that this competency framework related to ESG and financial technology will benefit the accounting profession and higher learning institutions by allowing them to design more industrial-relevant training and educational qualifications. This paper is significant because it ensures there is no shortage of accountants with ESG skills and knowledge, and it can support a government plan to achieve net zero by 2050.