In May 2022, top leaders representing companies, investors, firms, lenders, attorneys, consultants, standard setters and cutting-edge startups that are deeply involved in the environmental, social and governance (ESG) space convened at the inaugural AICPA and CPA.com ESG Symposium to exchange ideas and perspectives on emerging issues and to discuss the critical role of the finance and accounting profession within the ESG category.
The symposium agenda covered topics ranging from changing regulatory requirements, new reporting standards, marketplace demands and the growing need for ESG advisory and assurance services. CPA.com has released a special report that recaps key themes and takeaways from the event. Some of those include:
The confluence of proposed international and national ESG regulations that are creating momentum in the ESG space. The profession has a strong voice in helping shape the future of global ESG standards.
CPAs are well positioned to meet marketplace demands with the innate skills, experience and systems to assure the performance of quality services and core values of independence, integrity and competency. Firms are already building on services to help clients with their ESG strategy, reporting and assurance needs. See also the AICPA’s brochure ESG assurance: CPAs are the preferred choice.
Corporate finance leaders are beginning to lead internal efforts to gather and report on ESG efforts to improve decision-making and demonstrate value creation.
ESG covers broad and nascent topics. Accounting and finance professionals will need to expand their knowledge of the category to best advise clients and organizations on ESG best practices.
Today’s consumers and employees want to buy from - and work for - organizations whose values align with their own. Firms and organizations that adopt ESG practices will be well positioned to secure top talent and build strong client and customer relationships.
Investors, particularly the younger generation, want to work with companies that invest responsibly and balance purpose with profit. ESG reporting will become a cornerstone of financial reporting.
Download the full report here.