Environmental, social and governance (ESG) issues are shaking up every sector and industry. Amid this uncertainty, accounting and finance professionals are perfectly positioned to help businesses, governments and non-governmental organizations balance long-term sustainability with financial stability. Accounting professionals’ expertise – in risk management, business analysis, ESG assurance and reporting – is needed today more than ever. The profession is uniquely qualified to help the business world and its stakeholders find solutions to profound sustainability challenges, including supply chain management, financial stability and human capital.
Charged with analyzing, managing and reporting on the flow of essential information and insights, as well as a mandate to act in the public interest, the accounting profession has the knowledge and forethought to help all stakeholders achieve sustainable, long-term value creation.
The profession can help create a broader business framework using both financial and non-financial information to drive long-term business strategies, impact society, mitigate risks and assess new opportunities. The accounting profession is known for helping organizations, their boards and management, entrepreneurs and other leaders manage current and future risks. Much of this energy focuses on financial risks. However, the global risks we are seeing today extend beyond this.
Society gives organizations the authority and the ability to operate and there is now great focus on sustainability obligations. Sustainability is an opportunity for the accounting profession to play a role in engaging with clients, businesses and colleagues, to help society evolve so it becomes resilient for the long term.
This installment of the Accounting Profession Matters (APM) video series features Barry Melancon, CPA, CGMA, Association CEO and AICPA President and CEO, and Andrew Harding, FCMA, CGMA, Chief Executive, Management Accounting. Melancon and Harding each bring a unique perspective and peerless expertise to the discussion, which covers:
The establishment of the International Sustainability Standards Board (ISSB) as a global standard setter and its implications for the accounting profession
The impact of ESG on businesses of all sizes, and how CPAs and CGMAs can transform challenges into opportunities that drive growth and enable sustainable, long-term value creation
How the Association will continue to future-proof the profession and foster the highest quality sustainability reporting through standard setting, guidance, professional development resources, and collaborating with relevant bodies such as the Value Reporting Foundation.
For more information and related resources, visit our Sustainability/ESG hub.