The latest data from research by the International Federation of Accountants, the AICPA, and CIMA reveals that nearly three-fourths of the largest global companies obtained assurance of sustainability disclosures in 2023, with the majority depending on audit firms. U.S. companies rank ahead of the pack when it comes to obtaining assurance but behind the pack when it comes to depending on audit firms.
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TOPICS / MANAGEMENT ACCOUNTING
Sustainability
AICPA, CalCPA jointly call for clarity regarding California climate rule
The organizations, on behalf of CPAs, responded to a request for feedback from the California Air Resources Board with recommendations related to guidance on the reporting and assurance requirements of recent legislation.
FASB proposal offers guidance on disclosure of environmental credits
The proposal aims to address gaps in guidance for financial accounting of environmental credits and environmental credit obligations.
Sustainable services: CPAs positioned for burst in opportunities
As mandatory regulations related to reporting on and assurance of sustainability data begin to take hold, now is the time for CPAs in a variety of roles to position themselves to take advantage.
Why sustainability information matters to CPAs
As demand for ESG data grows, so does the opportunity for accountants to help businesses meet reporting requirements.
Why the SEC climate rule deserves CPAs’ attention
An AICPA director who has closely followed corporate reporting on climate issues explains the new SEC rule’s importance for accountants who create financial statements and those who audit them. Read the Q&A or listen to the transcript.
Cautious optimism: CEOs confident in their businesses, the economy
Large-company CEOs in a KPMG survey are confident in the U.S. economy despite multiple risks. Also, the CEOs seem to be changing their thinking about a permanent return to in-office work, with more envisioning a hybrid model.
Sustainability reporting, assurance rates on the rise globally
While reporting levels remain high and overall assurance levels are increasing, the level of assurance in the United States conducted by CPA firms remains low.
Podcast part 1: Melancon on news and trends affecting CPAs
The CEO of AICPA & CIMA discusses a potential IRS shutdown, why legislation will have an “extraterritorial effect” on reporting of ESG metrics, and why CPA licensure should be followed closely.
AICPA comments on proposed standard for sustainability assurance
The comment letter, in response to the exposure draft of ISSA 5000, shows support for the global standard while suggesting revisions to ensure it can be “consistently interpreted and applied.” The AICPA’s Auditing Standards Board is considering related changes to its attestation standards.
‘Moving so quickly’: The latest on ESG compliance
An AICPA director with a focus on ESG explains the many shifts happening in the compliance and reporting landscape in this podcast episode with transcript.
How accounting leaders can embrace ESG for a strategic advantage
Working with an oversight committee, building a road map, benchmarking, and focusing on quality can help businesses guide their ESG strategy.
Driving fuel efficiency: CPAs’ changing role in oil and gas reporting
The keynote speaker at an upcoming AICPA & CIMA conference previews his session on how current and pending ESG reporting rules may affect CPAs in the oil and gas industry.
ESG Symposium synopsis: How to put firms in the driver’s seat
A new California law is the latest “market driver” pushing ESG reporting forward. With regulations rapidly developing on a global scale, the time has arrived for CPA firms to grab the wheel.
4 AICPA & CIMA leaders discuss global sustainability standards
Leaders with their finger on the pulse of sustainability reporting see an opportunity for accountants to create value. They also see that challenges such as interoperability and capacity building will need to be addressed.
The key role accountants will play in the shifting definition of value
An ESG leader from AICPA & CIMA explains more about new global sustainability standards in this podcast episode with transcript. Topics include the shifts that business in general and the accounting profession in particular should make in response.
Why private companies need a plan for ESG reporting, assurance
Even if regulations don’t legally apply to private companies, they often apply from a practical standpoint. A new resource offers guidance on the importance of assuring sustainability data for public and private companies alike.
Sustaining the workforce: How sustainability can help the cause
Company leaders leaning into the opportunity presented by the evolving ESG landscape share their success stories during the 2023 Future of Finance Virtual Summit.
COSO releases internal control guidance for sustainability reporting
COSO has published supplemental guidance that can be used to apply its internal control framework to reporting on sustainability.
Opportunity knocks for firms as ESG reporting, assurance levels rise
More large companies than ever are reporting ESG data and obtaining assurance, according to a global survey, prompting many U.S. audit firms to explore how to best position themselves for an increased role.
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