The International Federation of Accountants (IFAC) and The Prince’s Accounting for Sustainability (A4S) Project have entered into a memorandum of understanding (MoU) to support the global accountancy profession’s role in developing sustainable organizations.
IFAC and A4S believe that an essential part of maintaining economic performance and contributing to society lies in embedding sustainability into strategy, governance, performance management and reporting processes.
The MoU says key priorities to support the work of professional accountants in embedding sustainable practices include:
- Raising awareness and facilitating sharing and collaboration across the global accountancy community, for example, through the development of a community website for professional accountancy organizations, business leaders, academics and other experts to exchange ideas and share good sustainability practice;
- Establishing an international integrated reporting committee to develop a new reporting model that will better reflect the interconnected impact of financial, environmental, social and governance factors on the long-term performance and condition of an organization; and
- Incorporating accounting for sustainability within professional training and education.
For more information, visit accountingforsustainability.org.
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