TORONTO, Nov. 17, 2011 /CNW/ - A new publication by the Canadian
Institute of Chartered Accountants (CICA) outlines for board directors
the business impacts and governance challenges associated with
environmental and social issues.
"Ongoing board vigilance is essential," says Gigi Dawe, principal, risk
oversight and governance, CICA. "When informed boards ask the right
questions, it can make a difference."
The publication titled Sustainability: Environmental and Social Issues Briefing was commissioned by the CICA's Risk Oversight and Governance Board and
co-authored by two chartered accountants: Julie Desjardins and Alan
Environmental and social issues are increasingly impacting the bottom
line and future prospects of companies in many industries according to
the authors. Those issues present both opportunities and risks and can
have important implications for strategy, competitiveness, risk
management, stakeholder relations and business resilience.
"In addition to highlighting issues and potential business implications,
the publication offers questions that directors might ask in
discharging their oversight responsibilities," says Desjardins.
The publication notes that mainstream institutional investors are
expressing a growing interest in the impact of environmental and social
issues on company performance and prospects, and in board governance
regarding such issues. Factors that companies may need to consider
include water scarcity and quality, climate change, energy, food safety
and production, human rights, corruption and the regulatory landscape.
"Directors concerned about a company's long term success and
competitiveness are paying careful attention to how management is
integrating key environmental and social issues into strategy and risk
and in building important stakeholder relationships," says Willis.
The CICA publication is available online (www.cica.ca/rogb).
Chartered Accountants (CAs) are Canada's most valued, internationally recognized profession of
leaders in senior management, advisory, financial, tax and assurance
roles. Through their integrity, expertise, and internationally
recognized qualification standards, Canada's 78,000 CAs sustain their
influence and leadership position both in Canada and globally. As
trusted business advisors to Canadian organizations of all sizes,
Canada's CAs foster confidence in Canadian business and contribute to
the health and sustainability of Canada's capital markets and economy.
The Canadian Institute of Chartered Accountants (CICA) represents
Canada's CA profession both nationally and internationally. The CICA
is a founding member of the International Federation of Accountants
(IFAC) and the Global Accounting Alliance (GAA).
SOURCE Canadian Institute of Chartered Accountants
For further information:
or to arrange an interview, contact:
Tobin Lambie, Manager, Media