Arcticle’s by Carol Adams

Main points: presents three possible scenarios as to how “sustainability” reporting might develop; the current direction will not facilitate harmonisation or sustainable development; a modification will facilitate both; taking a step back, rethinking and re-engaging would offer more possibilities; includes a link to a video discussion with Sir David Tweedie (ex IASB chair) and Mervyn King (ex GRI and IIRC chair) on these issues. The talk about the ‘alphabet soup’ of reporting frameworks and standards might have died down, but the problem has not gone away. At this point the involvement of the IFRS Foundation, ‘overwhelmingly’ welcomed by the private…

Main points: The IFRS Foundation and EU/EFRAG approaches are opposed in all key aspects; The EU/EFRAG approach is likely to contribute to addressing sustainable development (including climate change). The IFRS Foundation approach is likely to be a distraction from it; The IFRS Foundation has the backing of IOSCO, but the EU has legislative powers. A couple of days ago, I received a brief email update from the IFRS Foundation on their approach to Sustainability Reporting Standard Setting and a 228-page document from the European Financial Reporting Advisory Group (EFRAG) on theirs.  The latter contains 54 proposals and supporting information.  The IFRS Foundation have yet…

During 2020 a number of reports were published by organisations promoting a 'solution' for 'sustainability reporting' amid 'concern' about about a proliferation of bodies setting standards and frameworks. The proliferation of frameworks and standards led to a proliferation of bodies claiming their purpose was to harmonise – not without self interest, of course.  I wrote some short articles with my observations on these developments to both engage in the debate and increase my knowledge of them so I could discuss them with my students.  As future accountants they will be providing a much broader range of information to inform decisions…

Main points: The role of accounting academics in driving change in practice and policy has lacked visibility Academics have critical thinking skills of value to the profession, business and policy makers When people ask me what I do for a living, I wonder what they imagine it involves.  Do they think of Professors as people who don’t/can’t practice and accountants as people who do tax returns and read balance sheets?  Professors are change agents in their fields and Professors of Accounting have highlighted issues and signalled inevitable developments in accounting and accountability.  But misconceptions might explain the derisory comments I’ve…