Accounting
The Role of CPAs in Sustainability Takes on Greater Significance
In this fiercely competitive economic climate, companies are increasingly aware of the importance of managing and reporting on their financial, social and environmental risks and opportunities – often referred to as the triple bottom line.
Oct. 08, 2018
In this fiercely competitive economic climate, companies are increasingly aware of the importance of managing and reporting on their financial, social and environmental risks and opportunities – often referred to as the triple bottom line. Furthermore, in order to rely on this information, investors are looking for this reported sustainability information to be independently assured.
The American Institute of CPAs (AICPA) has developed a new toolkit that provides resources to help prepare CPAs to meet these growing sustainability-related demands. The free toolkit includes the following:
- CPAs – The preferred choice for assurance on sustainability information. This brochure helps CPAs articulate the value of CPA assurance to clients by outlining the differentiating factors, including adherence to rigorous assurance standards and practice guidance.
- Key sustainability terms defined. This document helps familiarize CPAs with key sustainability-related terminology.
- Sustainability: The world wants it. Can you deliver? This fact sheet highlights the growing demand for sustainability assurance services as well as the comprehensive sustainability assurance guidance available to CPAs who wish to provide such services.
- Seven steps to implementing the Sustainable Development Goals (SDGs). This document introduces the SDGs and highlights seven steps companies can take to implement the SDGs.
“Four of the top five global risks are sustainability-related, according to the World Economic Forum. So, it is critical for companies to manage these risks and opportunities effectively, and to accurately report and seek credible assurance on their sustainability-related information,” said Amy Pawlicki AICPA vice president, assurance and advisory innovation. “The toolkit will serve as a valuable resource introducing CPAs to key sustainability-related concepts, providing resources to help implement the SDGs and go a long way in helping members to articulate the value of CPA assurance services to clients.”
CPAs can leverage this free toolkit to complement their existing accounting and assurance skills to help meet these growing sustainability-related demands.