Accounting Standards

AICPA & CIMA launch resources to help accountants navigate sustainability

The pair said each brief provides a ‘detailed overview’ of the most-commonly used sustainability standards and frameworks

Ahead of London Climate Action Week, the Association of International Certified Professional Accountants (the Association), representing AICPA & CIMA, has launched educational briefs exploring sustainability, business and the role of finance professionals – Climate Disclosure Standards Board and International Integrated Reporting Framework.

The briefs are part of a series focusing on sustainability standards and frameworks, which is designed to help organisations better consider sustainability issues, embed them into their business strategies and integrate them into their reporting. 

The pair said each brief provides a “detailed overview of the most-commonly used sustainability standards and frameworks, what sustainability dimensions are covered, who is likely to need them and guidance to identify knowledge gaps”.

The series on sustainability frameworks and standards includes the following briefs:  

  • Sustainability Accounting Standards Board
  • Global Reporting Initiative
  • Task Force on Climate-related Financial Disclosures
  • International Integrated Reporting Framework
  • Climate Disclosure Standards Board

Andrew Harding, FCMA, CGMA, CEO – Management Accounting at the Association of International Certified Professional Accountants, representing AICPA & CIMA, said: “The coronavirus pandemic has made abundantly clear that organisations cannot continue to solely base their corporate reporting and decision-making on past financial performance. 

“Investors, shareholders and customers alike are demanding that organisations step up their game on climate-related and wider environmental, social and governance reporting. As core members of almost every organisation, finance professionals have a key role to play in driving sustainable strategic and operational decisions, including risk management.”

He added: “We believe that we will see profound changes in the next few years in the work of management accountants and public accountants to embed new practices and standards relating to sustainability. 

“AICPA & CIMA will continue to provide education and guidance to all areas of the profession, ensuring that it is ahead of this transformation. It is truly an exciting time to be an accounting and finance professional.”

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