Chartered Accountants Australia and New Zealand (CA ANZ) has announced its support for a new Global Accounting Alliance (GAA) report calling for stronger integration between sustainability and financial reporting.
CA ANZ helped develop the report, which is the first instalment in the GAA’s three-part Connectivity in Reporting series.
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The reporting series examines how organisations can link financial and sustainability information more closely to improve decision-making, transparency and long-term value creation.
The first report features views from ten major accounting bodies, which collectively represent more than 1.4 million accountants in 180 countries.
The findings were also informed by more than 30 interviews with participants across the reporting ecosystem. The report sets out why connected reporting is increasingly viewed as an indicator of high-quality information that supports decision-making.
The publication arrives as organisations respond to new climate-reporting obligations and growing demands from investors, regulators and other stakeholders for information that is clear, consistent and useful for decisions.
CA ANZ chief executive Ainslie van Onselen said organisations could no longer treat financial and sustainability reporting as separate processes.
Van Onselen said: “Financial information and sustainability information should tell the same story.
“Climate-related risks and opportunities can affect cash flows, asset values, access to capital and long-term performance.
“Organisations that bring these insights together are better placed to explain their strategy, resilience and prospects to investors and other stakeholders.”
The report outlines practical measures organisations can take to better align sustainability-related and financial information. It also sets out the potential advantages of a more integrated reporting approach.
The three-part GAA series will move from core concepts and developing trends to governance issues and implementation guidance for organisations looking to improve connected reporting.
GAA CEO Jim Knafo said: “Connectivity is becoming one of the defining features of high-quality corporate reporting.
“As expectations for sustainability-related information rise, professional accountants can help ensure that reporting is more coherent, reliable and useful.
“This series is intended to support the profession in telling a more connected story about performance, risk and long-term value.”
