Episode
65

The Accountants Role in Organizational Sustainability with CPA Canada

December 14, 2022
|
Duration:
1375434
Apple Podcast Icon
Listen on Apple Podcasts
Spotify icon
Listen on Spotify

In This Episode:

Join energy coach David Arkell and John Pooley, producer Lysandra Naom, and guest Jeanette Hill from CPA Canada on a Forbes inspired episode all about accountants and sustainability. This episode features CPA Canada resources, roles accountants play in sustainability and net-zero, data for reporting, sustainability assurance, and more. Check out our 360 Carbon Excellence Program. Links mentioned in the episode: Sustainability Sustainability Reporting Updates ESG Symposium 2023 Value Creation Program ESG Certificate

"

Highlights

  • CPA Canada's Mission in Sustainability: CPA Canada supports Canadian accountants with resources, standards, and international partnerships, focusing on improving financial literacy, ethical accounting, and the integration of sustainability into organizations.
  • Accountants in ESG and Long-Term Value: Accountants analyze sustainability risks, integrate ESG into business models, and help organizations focus on long-term value creation. Their expertise in risk management and financial controls enhances the quality of ESG data.
  • Significance of ISSB Standards: CPA Canada played a key role in establishing the International Sustainability Standards Board (ISSB), which provides global guidelines to improve consistency and transparency in sustainability reporting.
  • Net Zero and Risk Management: CPAs guide organizations in Net Zero initiatives by assessing capital allocation, climate-related risks, and policy compliance. Their governance expertise positions them to lead emissions reduction and Net Zero plans effectively.
  • Educational Programs for Sustainability: CPA Canada offers ESG resources, including a four-course certification and a 2023 symposium, to equip CPAs and business professionals with the knowledge needed to integrate sustainability into financial decision-making.
  • Key Insights

  • Importance of Reliable Data: Accountants ensure organizations use accurate data for sustainability reporting, establishing baselines for tracking Net Zero progress. This includes managing the complexity of Scope 3 (supply chain) emissions data.
  • Materiality in Sustainability: Materiality assessments identify sustainability factors that impact an organization’s value. Accountants must understand material issues for their specific operating environment and effectively communicate them to stakeholders.
  • Assurance for Sustainability Disclosures: Independent assurance, particularly for greenhouse gas data, enhances the credibility of sustainability reports. The International Auditing and Assurance Standards Board is developing standards to improve assurance quality for these disclosures.
  • Role of Governance in ESG: Governance provides the framework for achieving environmental and social goals. Accountants play a vital role by establishing controls and processes to align sustainability objectives with financial goals for comprehensive reporting.
  • CPA Canada’s Vision for Ongoing Learning: Through resources like the four-course certification program, CPA Canada supports professionals in their ESG journey, emphasizing that sustainability knowledge is now essential for business decision-making.
  • Prev

    Loading...

    Next

    Loading...