CATEGORIES
- (3) Negotiating Tax Debt and Payment Arrangements with SARS
- (2)Account / Profile
- (535)Accounting
- (2)Accounting and Finance
- (21)Audit
- (156)Auditing and Assurance
- (1)Business
- (1)Business Management
- (3)Business Rescue
- (94)CIPC
- (7)Compliance
- (18)Ethics and Professionalism
- (46)Financial Reporting
- (1)Government Funding Applications
- (4)Guides
- (1)Individuals Tax
- (19)Law
- (37)Legal and Compliance
- (2)Management
- (5)Miscellaneous
- (22)Money Laundering
- (1)Personal & Professional Development
- (2)Practice Management
- (2)Professional Ethics
- (3)Public Sector
- (145)Regulatory Compliance and Legislation
- (41)SARS Issues
- (26)Sustainability Reporting
- (33)Tax
- (1)Tax Update
- (5)Technology
- (1)Wills, Estates & Trusts
- Show All
IFAC: Small Businesses Sustainability Checklist
- 01 July 2025
- Business Management
- South African Accounting Academy
Summary:
The International Federation of Accountants (IFAC), in collaboration with the Edinburgh Group (EG), has launched a pioneering online tool designed to help small- and medium-sized enterprises (SMEs) maximize the benefits of incorporating sustainability into their strategy and business operations.
Article:
Developed specifically for IFAC and EG members to provide to their own members, The Small Business Sustainability Checklist is an interactive tool that provides practical steps to future-proof businesses and boost sustainability practices. It is designed to be tailored by each business according to its industry sector, lifecycle, and products and services.
The innovative resource uses a simple self-assessment approach to score users’ sustainability initiatives across environmental factors, social responsibility, and governance. It helps users identify risks and opportunities, which can inform a roadmap for improvement.
Instructions for completion:
For each question, answer "Limited", "Underway", or "Maturing" and provide a brief explanation or evidence if needed. Use the scoring system to assess your progress.
Scoring System:
- Limited: 1 point
- Underway: 2 points
- Maturing: 3 points
The following sections make up the checklist:
- Section 1 - Environmental Initiatives
- Section 2 - Social Responsibility Initiatives
- Section 3 - Governance Initiatives
With interactive videos featuring real-world experiences from industry peers, the tool offers users firsthand insights into how fellow professionals are tackling sustainability challenges. By sharing practical strategies and best practices, these industry voices provide valuable context, helping accountants translate sustainability concepts into actionable steps for their own firms and for their clients.
IFAC’s new tool is more than just a guide to reporting, it’s a resource that fosters best-in-class sustainability practices and helps firms develop advisory services. Prior to the online tool, a checklist was published in November 2023. Refer to our previous Alert dated 21 November 2023
Click here to access the online Checklist:
https://www.ifac.org/ifac-checklist
Relevance to Auditors, Independent Reviewers & Accountants:
- It is important to stay informed on publications issued by the regulators and standard-setters, e.g. IFAC.
- This Small Business Sustainability Checklist will help small- and medium-sized enterprises (SMEs) maximize the benefits of incorporating sustainability into their strategy and business operations.
Relevance to Your clients:
- It is important to stay informed on publications issued by the regulators and standard-setters, e.g. IFAC.
- This Small Business Sustainability Checklist will help small- and medium-sized enterprises (SMEs) maximize the benefits of incorporating sustainability into their strategy and business operations.