The Association of Chartered Certified Accountants (ACCA Vietnam) has recently introduced Vietnamese terminology for sustainability under International Financial Reporting Standards (IFRS) – the first Vietnamese translation of such internal standards – which is expected to serve as a framework for governing the disclosure of information on sustainability and climate risks.
Vietnam is actively updating its accounting regulations to better align with international standards, with a plan to make IFRS mandatory for all enterprises after 2027. Against this backdrop, the terminology translation represents another step forward in Vietnam’s efforts, laying a foundation for the local professional community to access, adopt, and integrate more rapidly with global practices.
ACCA Vietnam, in collaboration with leading experts, has developed Vietnam’s first Vietnamese-language sustainability reporting terminology, enabling the professional community to access international standards more accurately and consistently and supporting the effective adoption of global frameworks.
The terminology set covers 44 defined terms, presented in both English and Vietnamese. Most terms are drawn from IFRS S1, which sets out general requirements for sustainability-related financial disclosures, and IFRS S2, which focuses on climate-related disclosures.
As IFRS S1 and S2 become key global references for sustainability disclosures, language remains a critical implementation challenge in Vietnam. The introduction of Vietnamese-language sustainability terminology directly addresses this barrier, enabling more straightforward interpretation and more effective application of international standards.
