On 9 February 2011, the International Federation of Accountants introduced the ISAE 3410, Assurance Engagements on Greenhouse Gas Statements which in future will ensure that the reporting of Greenhouse activities of a firm are included with Financial Statements. This represent a paradigm shift in accounting theory as the concept of implicit costs reported together with the traditional historical costs. As there is hardly any resources on the new theory in print, educators will have to rely on information concerning this new standard through e-learning via the International Federation of Accountants webpage, the local accounting body webpages and commentary from the webpages of major international accounting firms. In this study, the researchers explored the readiness and awareness of accounting educators across higher education institutions and professional bodies in Malaysia in understanding and applying the new theory into their future course development materials. A series of cross-sectional studies was conducted on Malaysian accounting educators and professional bodies through constructive questionnaires. Although majority of them are environmentally conscious, the result indicates that majority of them are not enlighten with the details of the standard. It seen that the respondents are waiting for clear direction from the accounting communities before imposing any changes to their current course materials. Implications of findings for future accounting educators and practitioners are provided.
Paper presented at the International Management Accounting Conference (IMAC) (26-27 March 2012; Kuala Lumpur, Malaysia)