Rules which may force businesses to record and report their impact on
biodiversity via their published accounts are being considered by the global
accounting standard setter.
The International Accounting Standards Board (IASB) is considering
recommendations by a United Nations affiliate, The Economics of Ecosystems and
Biodiversity (TEEB), to measure and report their biodiversity impact in
The IASB is already considering a standard framework for measuring carbon
emissions with an aim of releasing a final standard by 2012.
The TEEB report recommends the accounting profession accelerate efforts to
provide standards and metrics for disclosure of environmental impacts.
“Ultimately, the ability and interest of business to use such valuations in
their financial accounts may depend on developments in accounting standards,
financial disclosure requirements, and environmental liability regulations,” the
The report’s release comes as PwC releases its own study revealing that less
than one in five companies see biodiversity as an important business issue.
“The UK’s embedded and unconscious dependence on environmental resources,
largely unaccounted for and unvalued in market terms, will mean no sector or
business will escape unaffected by changes to the availability of environmental
goods and services,” the firm said.
Improvements to cashflow statements are being targeted in a consultation launched by the Financial Reporting Council (FRC)
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Long-serving PwC director Fiona Westwood has moved to Smith & Williamson and stepped up to partner