The creation of the Value Reporting Foundation through the merger of SASB and IIRC in summer 2021 will not impact your FSA Credential registration. The merger is acknowledged in the Level I curriculum and the concepts in the FSA Credential have been written to reflect concepts that both IIRC and SASB have agreed to in the joint Statement of Intent to Work Together Towards Comprehensive Corporate Reporting.

The FSA Credential Level II pilot exam will be offered from April 20 – May 22, 2022. Pilot candidates will receive their exam results in July, 2022. The FSA Level II pilot exam will take the place of the typical May-June testing block for the FSA level II. The updated Level II exam will resume its regular testing schedule beginning in September-October 2022. The FSA Level I exam will continue to follow our regular testing schedule, which is covered below.

On any day of the year, you may register for the FSA exams and choose an exam date in one of three exam periods: January-February, May-June, and September-October. There are multiple test times on whatever exam day you choose.

For example, if on March 30th you’d like to register for an exam you can choose to take it on any available day in May or June. If it’s May 15th and you want to register for an exam, you can take the exam on any available day in the rest of May or in June. If you’re registering on June 1, you can choose from test days in June or choose to take the test on any available day in September or October.

For FSA Level I:

For FSA Level II:

  • Log in to Pearson VUE account
  • Choose proctor & exam date/time
  • Complete payment
  • Check email for study guide and exam details

The Value Reporting Foundation is hosting the pilot version of the updated Level II exam from April 20 – May 22, 2022. Candidates that participate in the pilot will receive their results in July 2022.

The fully updated Level II exam will be hosted during the September – October 2022 testing block.

If you have registered for the standard FSA Level II exam and would like to participate in the updated Level II pilot exam, please reach out to [email protected] for registration instructions and processing your $200 USD partial refund. If you register for the pilot exam and do not complete the exam before May 22nd, you will need to pay the $200 USD difference to complete the exam at a later date.

The study guide will be automatically sent to after registering in an email with the subject line “Confirmation of Pearson Exam Appointment”. Click here to get started.

While it varies for each candidate, the Value Reporting Foundation recommends 30 hours of preparation for each of the FSA Credential exams. The Level I exam covers essential concepts and emerging practices and some of the content may be familiar to certain individuals, reducing their study time. The Value Reporting Foundation recommends that every candidate at least review every section of the study guide. The Level II exam is closely tied to the study guide but does not require experience with a particular industry or industries.

The exam is offered onsite at select locations around the world and also remotely, pending certain requirements are met. For more information, please see the Exam Day page.

The Pearson VUE testing network utilizes more than 5,000 testing centers in over 180 countries to securely proctor exam worldwide. For more details, please see the Candidate Handbook.

Yes, to switch from an on-site proctored exam to an online proctored exam, contact Pearson VUE.

Candidates must reschedule their exam with more than forty-eight (48) hours notice by logging in to the Pearson VUE online portal or by contacting Pearson VUE. If exam rescheduling is not complete and confirmed with 48 hours of advanced notice, the candidate will face a reschedule fee of $60.

If a candidate needs to reschedule within the 48 hours, they can do so by logging in to the Pearson VUE online portal or by contacting Pearson VUE.

Yes, as long as you do so within the appropriate timeframe. Please review the Candidate Handbook for details about cancellations and refunds.

Your progress will be automatically saved, along with your selected answers and your exam timer. To re-start your exam, contact Pearson VUE technical support.

The study guide, exam questions, and all other materials are only offered in English.

CFA members that complete the FSA Credential are eligible for up to 20CE credits for each of the two FSA exam levels obtained.

The FSA Credential helps you identify, quantify, communicate, and analyze the sustainability factors that impact a company’s value. These skills are valuable for professionals at a wide range of organizations.

Yes, at least if you 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 or financial value.

The Fundamentals of Sustainability Accounting (FSA) Credential exams are assessment-based certificate exams. The Institute for Credentialing Excellence describes the difference between an assessment-based certificate program and a certification on its website. The FSA Level I exam is highly rigorous – developed by a wide range of subject matter experts, overseen by experts in exam development, with a proctored, secure testing environment. When candidates complete a certificate program, they do not receive letters after their name. FSA candidates can identify themselves as FSA Credential holder after they pass both the Level I and Level II exams, as described in the Candidate Handbook and on the FSA website.

The basic principles of sustainability accounting are unlikely to change over time, but there may be new laws and developments. At this time, you do not have to take another exam. However, in the future continuing education may be necessary for FSA credential holders. Any changes will be announced with significant advanced notice to those who have maintained their FSA credential.

There are three key differences:

  • The study guide teaches a methodology for analysis instead of context, facts and figures, and principles
  • The exam tests application and analysis skills relevant to understanding a company’s performance
  • The exam features a series of case studies, with a set of questions analyzing each case study

Note that the Level II exam provides a methodology for analyzing sustainability information, rather than dictating that a specific investment decision or corporate strategy is correct.