AICPA welcomes new International Sustainability Standards Board
Zoya Malik, 3 November 2021
ICPA and CIMA have released a statement welcoming the creation of the new International Sustainability Board as a means for developing consistent, reliable and comprehensive global sustainability standards to create purposeful, resilient organisations and a more sustainable future.
The Association also believes this move will enable a necessary evolution for corporate reporting standards and ensure that corporate reporting remains fit for purpose in the post-pandemic world.
Barry Melancon, CPA, CGMA, CEO at the Association of International Certified Professional Accountants, representing AICPA & CIMA, said: “Customers, employees, society, governments and investors are all demanding greater organisational transparency beyond the traditional financial metrics.
“But organisations can’t manage what they don’t measure, and can’t build trust with their stakeholders unless they provide consistent, comparable information on a variety of metrics, including sustainability metrics. Therefore, the need for a universally accepted set of reliable, comprehensive and robust sustainability standards, which can accommodate interoperability, has never been greater. As chair of the Value Reporting Foundation board strategy committee, I’m very pleased to see our hard work come to fruition.”