Global Accounting Groups Commit to Sustainability Practices

July 6, 2009

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The Prince of Wales’ Accounting for Sustainability Forum has announced that its 16 global accounting body members have signed the Forum’s five sustainability principles. The forum claims this is the first time that a global group of accounting bodies has committed to a set of sustainability principles. The signatories include the American Institute of Certified Public Accountants.

The forum’s principles promote “connected reporting” — reporting that connects an organization’s sustainability impacts with its financial performance more clearly and consistently — and commits participants to collaborative research and training in this area.

By signing the sustainability principles, participants acknowledge the role that accounting for sustainability must play in providing decision makers with the information they need, but also educating tomorrow’s accountants to embed sustainability throughout the profession, said the forum.

The five principles of the Accounting for Sustainability Forum are to: influence and inform, lead by example, drive thought leadership, collaborate through the Forum, and incorporate accounting for sustainability within training and professional education.

The accounting bodies who have signed the Accounting for Sustainability Forum’s Principles are:

American Institute of Certified Public Accountants (AICPA)
Association of Chartered Certified Accountants (ACCA)
Chartered Accountants of Canada (CICA)
Chartered Institute of Management Accountants (CIMA)
Chartered Institute of Public Finance and Accountancy (CIPFA)
Consultative Committee of Accountancy Bodies (CCAB)
Global Accounting Alliance (GAA)
Hong Kong Institute of Certified Public Accountants (HKICPA)
Institut der Wirtschaftsprüfer in Deutschland (IDW Germany)
Institute of Chartered Accountants in Australia (ICAA)
Institute of Chartered Accountants in England and Wales (ICAEW)
Institute of Chartered Accountants in Ireland (ICAI)
Institute of Chartered Accountants of Scotland (ICAS)
Japanese Institute of Certified Public Accountants (JICPA)
New Zealand Institute of Chartered Accountants (NZICA)
South African Institute of Chartered Accountants (SAICA)

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Reader Comments

This is a great step toward what needs to happen throughout the world: the environmental and social costs associated with business must be accounted for on an organization’s spreadsheets. What is measured matters and the sooner businesses take all the associated costs of making their products and providing their services into account, the faster we can transition into a truly sustainable economy.

Matt Courtland | July 7th, 2009

This is great news, a step in the right direction.

Accountants | July 10th, 2009