TORONTO, July 28, 2015 /CNW/ - A new publication from Chartered Professional Accountants of Canada (CPA Canada) discusses the evolving corporate reporting landscape, especially as it relates to addressing sustainability issues.
The CPA Canada briefing, An Evolving Corporate Reporting Landscape: A Briefing on Sustainability Reporting, Integrated Reporting, and Environmental, Social and Governance (ESG) Reporting, assists public companies in understanding three current sets of guidance associated with voluntary reporting produced by the:
- Global Reporting Initiative (GRI)
- International Integrated Reporting Council (IIRC)
- Sustainability Accounting Standards Board (SASB)
Reporting on sustainability is addressed in different ways in the three sets of guidance outlined. While largely voluntary in Canada, beyond what securities regulators call for regarding certain social and environmental issues, sustainability and integrated reporting are either already mandatory or may become so in some other countries and regions.
"Reporting changes occurring internationally call for business enterprises to provide a broader array of information relating to the entity's value, performance, prospects and impacts – calls which sooner or later may become more evident in Canada," says Alan Willis, independent advisor to CPA Canada and a co-author of the publication. "This clearly highlights why organizations need to keep up to speed with the emergence of new voluntary reporting proposals and guidance as well as ever-changing regulatory requirements."
The briefing also outlines how the three forms of voluntary guidance relate to the principles and disclosure framework set out in another CPA Canada publication, Management's Discussion and Analysis – Guidance on preparation and disclosure.
In presenting information about the three forms of voluntary reporting, CPA Canada neither advocates their use nor evaluates their respective merits. The purpose of the publication is to provide useful and factual information in a concise manner.
"CPA Canada supports continuous improvement in the relevance of corporate reporting, and publications like the briefing help both companies and report users, such as investors, better understand the changes taking place in today's global reporting landscape," adds Willis.
About CPA Canada
The new Canadian designation, Chartered Professional Accountant (CPA), is now used by Canada's accounting profession across the country. The profession's national body, Chartered Professional Accountants of Canada (CPA Canada), is one of the largest in the world with more than 190,000 members, both at home and abroad. The Canadian CPA was created with the unification of three legacy accounting designations (CA, CGA and CMA). CPAs are valued for their financial and tax expertise, strategic thinking, business insight, management skills and leadership. CPA Canada conducts research into current and emerging business issues and supports the setting of accounting, auditing and assurance standards for business, not-for-profit organizations and government. CPA Canada also issues guidance and thought leadership on a variety of technical matters, publishes professional literature and develops education and professional certification programs. cpacanada.ca
SOURCE CPA Canada
For further information: Diana Sorace, Manager, Media Relations, CPA Canada, T: 604-694-6700, C: 604-551-4487, firstname.lastname@example.org