ACCA has made improvements to its qualification which include updating the content of the global syllabus and making changes to ensure students have the business skills and knowledge required by employers.

Content for the professionalism and ethics syllabus content has been enhanced around governance, risk and ethics. It now includes a greater focus on the requirement for more diversity on boards and on how accountants should describe and assess the environmental effects that economic activity can have.

The strategy and innovation competency has been updated to make it more relevant to the corporate sector and business leadership. In the financial management syllabus, ACCA has increased content on developments in Islamic finance. The corporate reporting competency includes greater coverage of the typical contents of a social and environmental report, and ACCA says exams will also cover sustainable management accounting. The audit and assurance competency now places more emphasis on professional scepticism.

In addition, ACCA says since June 2013, all seven of the ACCA Qualification Professional Level exams use case studies in their assessments designed to provide practical scenarios for students to work on for these exams, and to allow them to demonstrate skills which are highly sought after by employers, and relevant for advisory and consultancy roles.

Alan Hatfield, director of learning at ACCA, said: 'Accountants need to be at the forefront to make the most of opportunities and resolve issues as more businesses, SMEs and entrepreneurs turn to them for advice and guidance. In particular, business expects finance professionals to act as strategic advisers, helping organisations to create long-term, sustainable value.'