Earn the Fundamentals of Sustainability Accounting (FSA) Credential®
Gain the expertise you need to lead the profession forward in sustainability accounting.
AICPA® & CIMA® are working with the International Financial Reporting Standards (IFRS) Foundation® to offer the CPE-approved Fundamentals of Sustainability Accounting (FSA) Credential® at a member-exclusive discounted price. This is a testament to our commitment to providing our members with the best opportunities to advance their understanding of ESG.
Earn the Fundamentals of Sustainability Accounting (FSA) Credential®
Gain the expertise you need to lead the profession forward in sustainability accounting.
AICPA® & CIMA® are working with the International Financial Reporting Standards (IFRS) Foundation® to offer the CPE-approved Fundamentals of Sustainability Accounting (FSA) Credential® at a member-exclusive discounted price. This is a testament to our commitment to providing our members with the best opportunities to advance their understanding of ESG.
Investor demand for sustainability information is growing, creating a demand for sustainability accounting, reporting, assurance, and advisory services. Accounting and finance professionals are well-suited to meet these demands but need a thorough understanding of sustainability reporting and critical thinking skills.
The FSA® Credential, created by the leading provider of sustainability disclosure standards and now part of the IFRS® Foundation, is the premier educational opportunity for professionals to level up their skills. With the FSA Credential, professionals can identify, analyze, and communicate the sustainability factors that affect a company's financial position and operating performance.
Don't miss this chance to become a leader in the growing field of sustainability accounting and finance. Join the transformational shift towards greater transparency and value creation in corporate reporting with the FSA Credential.
The FSA Credential is designed for accounting and finance professionals who hold or aspire to hold roles such as financial controllers, chief accounting officers, divisional finance directors, heads of corporate reporting, auditors and assurance professionals, finance professionals, and heads of investor relations.
The FSA Credential equips professionals with the knowledge and skills to understand the link between financially material sustainability information and a company’s ability to drive a company’s ability to create value. By earning the FSA Credential, professionals will demonstrate their expertise in sustainability accounting, which involves:
Identifying industry-specific sustainability factors relevant to enterprise value creation
Integrating the measurement of those factors into data collection and internal reporting processes
Reporting standardized data about those factors externally
Analyzing sustainability performance to inform investment decision-making
The FSA Credential is a well-recognized and independently awarded means of demonstrating professional competence in sustainability accounting and the associated standards. By earning the FSA Credential, candidates will be equipped to identify, quantify, communicate, and analyze the sustainability factors that affect a company’s value. These skills are valuable for professionals at a wide range of organizations, regardless of their location.
We encourage members to take advantage of this opportunity to advance their careers by earning the FSA Credential. This is an investment that will pay dividends in the long run.
See how the FSA Credential has benefited others
Filipe Monteiro
Senior Manager Internal Audit & Sustainability, ICTS Protiviti
“The knowledge that FSA has given me has supported me in writing articles, opened doors in discussion communities about ESG here in Brazil, as well as given me technical support in consulting activities to diagnose the stage of maturity of our clients and make suitable recommendations…”
Chistopher Ailman
Chief Investment Officer, California State Teachers Retirement System
“This study has fine-tuned my view and understanding of non-financial risk and its factors. It will improve our investment analysis and helped me push us to be a lead investor, pushing the SEC and the industry to make SASB standards a required disclosure.”
Ryan Frazier
CEO & Managing Principal, Frazier Global Strategies
“The FSA is essential education for those of us who are committed to understanding the range of sustainability issues and how they are linked to financial performance and value creation for investors, companies, and the broader stakeholder community.”
Sagarika Sahoo
Senior Project Manager - ESG Research, SG Analytics
“I was aiming to upskill myself and earn a credible certification. FSA is one of the most informative courses in the market. It helps you to be aware of the need and evolution of ESG/sustainability accounting, concepts, and their use.”
Tara Mei Smith
MBA Candidate, NYU Stern School of Business
“ESG integration is the future of finance and I want to be ready for that future. The FSA gives me a language to communicate material ESG factors in a standardized and decision-useful way… The FSA has already helped me both in the classroom and in serving clients.”
Sarah Adams
Chief Sustainability Officer, Vert Asset Management
“The FSA was one of the first credentials that linked sustainability analysis to an investment and corporate perspective. I like that the FSA contains elements of both theory and practice of sustainability issues in investment decisions.”
The FSA Credential combines two exams to assess professional expertise in the materiality of sustainability information for corporate performance and investment analysis. After passing Level I, a candidate is identified as an “FSA Level II Candidate.” After passing Level II, a candidate becomes an “FSA Credential Holder.”
Level I exam — Principles
110 multiple-choice questions
Gain a common language to communicate financially-material sustainability information to professionals across capital markets
Learn how material, industry-based sustainability information can inform corporate strategies and investor decisions
Understand the environmental, social and governance (ESG) landscape, including the role of standard setters, regulators, data providers and others
Level II exam — Application
55 multiple-choice questions associated with 13 cases
Identify the sustainability issues that are relevant to a company’s financial performance
Analyze company sustainability performance with qualitative and quantitative ESG data
Identify the link between ESG metrics and a company’s revenues/expenses, assets/liabilities and cost of capital
CPAs licensed in a US jurisdiction that accepts courses from the National Registry of CPE Sponsors are eligible to receive up to 27.5 CPE* credit hours for completing the FSA Credential – 15 CPE credit hours for passing Level I and 12.5 CPE credit hours for passing Level II. When creating an account with Pearson Vue, CPAs must mark the box in the “additional information” section to confirm that they would like to earn CPE in order to receive a certificate verifying their achievement.
Please note: The National Association of State Boards of Accountancy (NASBA) requires a minimum score of 70% to earn CPE credit for all approved self-study courses. The pass/fail score for the FSA exams is determined using a rigorous, validated methodology that is considered best practice in the credentialing industry, which does not always produce results that are precisely aligned with NASBA’s minimum score threshold. Currently, the score required to pass the FSA Level II exam is slightly below 70%. For this reason, it is possible that Level II Candidates may pass their exam without qualifying for CPE credit. Refer to the Candidate Handbook for additional information.
*The IFRS Foundation is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Upon passing each of the FSA exams, Credential holders receive a digital badge verifying the accomplishment and are permitted to add Credential status to their resume, bio, and online presence. Level II Candidates and Credential Holders are also invited to join the official FSA community group on LinkedIn.
Please note that as a professional certificate program, FSA Credential Holder status is not represented in the form of letters after one’s name (i.e. please refrain from referring to oneself as Jane Doe, FSA).
| Register today | Level I exam | Level II exam |
|---|---|---|
| What’s covered? | Learn how sustainability factors affect enterprise value and investment performance | Gain skills to evaluate corporate performance on sustainability factors |
| Next testing window if you sign up today | May 1–June 30 | May 1–June 30 |
| Non-members | $450 | $650 |
| AICPA and CIMA members (with discount code) AICPA Members: Download discount code here , CIMA Members: Download discount code here | $400 | $500 |
| Prerequisite | None | Passing Level I |
| Register | Register |
Exam logistics
For detailed information about exam procedures and policies, please download the Candidate Handbook.
Where do the exams take place?
Candidates can take exams in person at one of many test centers around the world or online with a remote proctor. Exams are administered by IFRS Foundation test partner, Pearson VUE.
When are tests offered?
Three testing periods are offered throughout the year: January–February, May–June, and September–October. Multiple time slots are available on each day of testing. See the Candidate Handbook for more details.
How do I study for the exam?
Registered candidates receive access to the study guide, which represents the body of testable material. The average candidate spends 30–50 hours studying for each exam. Candidates who would like additional exam preparation support can register for a course offered by an IFRS Foundation approved education provider.
Can I reschedule or cancel?
Candidates may cancel their exam and receive a refund within 14 days of initial registration. Candidates may reschedule their exam up to 48 hours prior to their exam date without paying an additional fee.
If you’re interested in the FSA Credential, you may also be interested in other AICPA & CIMA learning and resources
If you’re interested in the FSA Credential, you may also be interested in other AICPA & CIMA learning and resources
FSA Credential FAQs
What is the difference between the AICPA & CIMA Fundamentals of ESG certificate course and the IFRS® Foundation’s Fundamentals of Sustainability Accounting (FSA) Credential®?
The AICPA & CIMA Fundamentals of ESG certificate course is an introduction to the Fundamentals of ESG.
It is for CPAs, CGMAs and other accounting and finance professionals looking to understand the importance of sustainability and ESG in today’s business environment and the increasing stakeholder demand for sustainability information from businesses.
Key Topics
What is ESG?
Expectations of investors, stakeholders, and shareholders
Accountant role within ESG
Existing reporting requirements
Standards and frameworks that drive reporting
Key global bodies that set the baseline for reporting and frameworks
Learning Outcomes
Identify the key aspects in each area of environment, social, and governance.
Recognize the expectations of investors and the impact on business.
Assess the responsibility of businesses for key ESG issues.
Recognize the business case for implementing sustainable practices.
Identify the role of the accounting and auditing profession in sustainability.
Recognize the current sustainability reporting frameworks and reporting requirements.
You will receive 9 CPE credits and a digital badge from AICPA & CIMA upon completion.
The IFRS Foundation Fundamentals of Sustainability Accounting (FSA) Credential®
equips professionals with the knowledge and skills to understand the link between financially-material sustainability information and a company’s ability to drive enterprise value.
By earning the FSA Credential, professionals will demonstrate their expertise in sustainability accounting, which involves:
Identifying industry-specific sustainability factors relevant to enterprise value creation
Integrating the measurement of those factors into data collection and internal reporting processes
Reporting standardized data about those factors externally
Analyzing sustainability performance to inform investment decision-making
Level I is 15 CPE credits and Level II is 12.5 CPE credits.
Upon passing each of the FSA exams, Credential holders receive a digital badge from the IFRS® Foundation, verifying the accomplishment and are permitted to add Credential status to their resume, bio, and online presence.
Please note that as a professional certificate program, FSA Credential Holder status is not represented in the form of letters after one’s name (i.e. please refrain from referring to oneself as Jane Doe, FSA).
How do I access the materials to begin preparing for the FSA exams?
Candidates receive a download link and access code to the relevant FSA study guide after paying the registration fees and scheduling with Pearson VUE. This link is delivered via a confirmation email entitled “Confirmation of Pearson VUE Exam Appointment.” The access code provided in this email allows you to download the study guide directly from the FSA website.
Candidates interested in learning more about the topics covered by the FSA exams before registering are encouraged to review the exam curricula.
Is the FSA Credential only valuable if I work at a company using the Sustainability Accounting Standards Board (SASB) Standards?
The FSA Credential empowers candidates to identify, quantify, communicate and analyze the sustainability factors that affect a company’s value. These skills are valuable for professionals at a wide range of organizations.
Is the FSA Credential useful for someone working with companies outside the United States?
Yes. The FSA curriculum is designed to be relevant to professionals around the world. It benefits professionals that are interested in understanding
how material sustainability information can provide insights into a company’s opportunities and risks and/or
the impact of sustainability on a company’s operating performance and financial value.
How is Level II different from Level I?
There are three key differences:
The Level II study guide teaches a methodology for analysis, whereas the Level I study guide teaches context, facts and figures, and principles.
The Level II exam tests application and analysis skills relevant to understanding a company’s ESG performance, whereas the Level I exam tests candidates’ ability to understand and recall core concepts and principles.
The Level II exam is case based. Candidates must answer multiple-choice questions associated with each miniature case study.
How do I register?
For FSA Level I and Level II:
AICPA and CIMA members download a discount code [hyperlink to the download page]
Create or log in to your Pearson VUE account
Choose your exam, proctor, and exam date and time
Complete payment
Check email for study guide and exam details
How much time should I spend preparing for the FSA Credential exams?
Although study time will vary for each candidate, 30 hours of preparation for each of the FSA Credential exams is recommended. The Level I exam covers essential concepts and emerging practices. Some of the content may be familiar to certain individuals, reducing their study time. Every candidate should review the curriculum in its entirety and utilize the practice exercises and questions provided in each study guide.
Are the exams proctored?
Yes. Both in-person and online exams are monitored by a Pearson VUE proctor. Each candidate must verify their identity and meet requirements to ensure the integrity and security of the testing experience.
Where are exam testing centers?
The Pearson VUE testing network has more than 5,000 testing centers in over 180 countries, allowing them to securely proctor exams worldwide. For more details, please see the Candidate Handbook.
Can I switch from an on-site proctored exam to an online proctored exam?
Yes. To switch from an on-site proctored exam to an online proctored exam, contact Pearson VUE.
Can I earn CE/CPD/CPE or other continuing education credit for my other professional certifications such as the CPA or CFA?
The FSA Credential often qualifies as a source of CE/CPD/CPE credit. Candidates are encouraged to contact their designated authority to determine if the FSA Credential is accepted as continuing education credit. Details for CPAs and CFAs are provided below. If you are aware of a professional designation program with continuing education requirements that formally approves third-party continuing education providers and would like the FSA Credential team to request approval, please contact FSA_Credential@ifrs.org.
CPAs licensed in a U.S. jurisdiction that accepts courses from the National Registry of CPE Sponsors are eligible to receive up to 27.5 CPE* credit hours for completing the FSA Credential — 15 CPE credit hours for passing Level I and 12.5 CPE credit hours for passing Level II. When creating an account with Pearson VUE, CPAs must mark the box in the “additional information” section to confirm that they would like to earn CPE in order to receive a certificate verifying their achievement.
Please note: The National Association of State Boards of Accountancy (NASBA) requires a minimum score of 70% to earn CPE credit for all approved self-study courses. The pass/fail score for the FSA exams is determined using a rigorous, validated methodology that is considered best practice in the credentialing industry, which does not always produce results that are precisely aligned with NASBA’s minimum score threshold. Currently, the score required to pass the FSA Level II exam is slightly below 70%. For this reason, it is possible that Level II Candidates may pass their exam without qualifying for CPE credit. Refer to the Candidate Handbook for additional information.
CFA Charterholders are not required to submit continuing education, but the FSA Credential is eligible for continuing education based on the time a candidate spends to prepare for each exam.
*The IFRS Foundation is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Is the exam offered in a language other than English?
The FSA Credential is offered only in English. This includes the study guide, exam, and all other associated materials.
How do I contact the FSA Credential team?
You can email the IFRS Foundation’s FSA Credential team at fsa_credential@ifrs.org or call 424.261.9930.
Did the consolidation of the Value Reporting Foundation (VRF) with the IFRS Foundation affect the FSA Credential?
The FSA Credential continues to be an important program under the IFRS Foundation. The status earned by FSA Credential holders was not affected by the consolidation. The FSA Credential is a vital resource for connecting businesses and investors regarding the financial impacts of sustainability issues. The global relevance and the value of the FSA Credential will only increase as a result of the SASB Standards’ and Integrated Reporting Framework’s transition to the IFRS Foundation and International Sustainability Standards Board (ISSB).
AICPA Members: Download discount code here
CIMA Members: Download discount code here
The International Financial Reporting Standards Foundation (IFRS® Foundation) is the copyright owner of the Fundamentals of Sustainability Accounting (FSA®) Credential Level I and Level II study guides. The information, text, and graphics in this publication (the “Content”) are owned by the IFRS Foundation. All rights reserved. Under license from the IFRS Foundation. The Content may not be disseminated, distributed, republished, reproduced, or modified without the prior written permission of the IFRS Foundation. To request permission, please contact fsa_credential@ifrs.org.
IFRS Foundation, IFRS and FSA are registered trademarks of the IFRS Foundation
AICPA Members: Download discount code here
CIMA Members: Download discount code here
The International Financial Reporting Standards Foundation (IFRS® Foundation) is the copyright owner of the Fundamentals of Sustainability Accounting (FSA®) Credential Level I and Level II study guides. The information, text, and graphics in this publication (the “Content”) are owned by the IFRS Foundation. All rights reserved. Under license from the IFRS Foundation. The Content may not be disseminated, distributed, republished, reproduced, or modified without the prior written permission of the IFRS Foundation. To request permission, please contact fsa_credential@ifrs.org.
IFRS Foundation, IFRS and FSA are registered trademarks of the IFRS Foundation
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