PracticeConsultingFirms urged to act on green reports

Firms urged to act on green reports

Companies and accountancy firms risk regulators forcing new rules upon them unless they take the lead in developing environmental reports, according to former ICAEW president Graham Ward.

Ward made the comment as he launched the institute’s report on sustainability and corporate reputation.

One of the most controversial areas around environmental reporting is developing measures for non-financial data, but Ward said accountants and companies risked losing the initiative if they do not act.

‘If companies and the professions do not take a lead in developing realistic and understandable measures for non-financial information, regulators may well force their own ideas on them in the name of the public interest,’ said Ward, chairman of the institute’s sustainability advisory group.

He added that auditors are ideally placed to check statements on ethics and the environment are fair.

The institute’s report, like much recent literature, concludes that sustainability must be ’embedded’ in an organisation.

ACCA has already expressed support for mandatory environmental reporting on a limited basis.

In March, at ACCA’s annual environmental awards, former trade secretary Michael Meacher named and shamed six companies that had failed to improve their environmental reporting.

Links

FDs split over environmental reporting

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer