Abstract
The introduction of integrated reporting, which requires companies to communicate the short-, medium- and long-term effects of their business activities on sustainable value creation, has had a significant impact on company reporting environments. Accountants are now required to obtain a new set of skills enabling them to generate appropriate internal and external information to report on the effects that their company’s activities are having on all their various stakeholders. The purpose of this study is to identify the skills and competencies an entry-level accountant would need in terms of specific knowledge and soft skills to support the integrated reporting process. The extent to which students studying towards a professional qualification in accounting are prepared for this new reporting environment is currently unknown. The study examined the <IR> Framework to determine the knowledge and soft skills that an entry-level accountant requires to contribute effectively to the integrated reporting process. The study identified thirteen specific knowledge areas that entry-level accountants need in order to contribute effectively to the integrated reporting process. It was also established that the International Federation of Accountants’ (IFAC’s) soft skills requirements for the Professional Accountancy Organisations (PAO) are sufficient preparation for the integrated reporting process. PAOs, educators and entry-level accountants should realise that the specific knowledge areas and soft skills, required for the integrated reporting process, are interrelated and should be taught and assessed in an integrated and cross-functional manner.
M.Com. (Financial Management)