ACCA chief appointed to committee of new financial reporting body
Helen Brand, chief executive of ACCA (the Association of Chartered Certified Accountants), has been appointed as a key representative on the Steering Committee of the newly formed International Integrated Reporting Committee (IIRC).
The IIRC has been established by the Prince’s Accounting for Sustainability Project (A4S) and the Global Reporting Initiative (GRI).
As the first professional accountancy body to put sustainability at the heart of the role of the finance professional, ACCA is very pleased to be a participant in this initiative.
Commenting on the remit of the IIRC, Helen Brand says: "I am delighted to be joining other accountancy experts on this group. ACCA has been working in this field since the early 1990s and has a 20-year record in promoting sustainability reporting, arguing that companies embracing transparency and measuring their impacts would best be able to deliver enhanced sustainable performance. It is extremely heartening to see so many high-profile names working together to achieve change. ACCA is passionate about ensuring that the accountancy profession plays a key role in this vital area. We have long called for the need for a clear and consistent method for businesses to report on their impacts on society and the environment, including carbon emissions. The IIRC represents a considerable force for change."
Helen Brand concludes: "A globally-accepted framework for accounting for sustainability is an imperative. It is a real privilege to be on this Steering Group and I look forward to the work we will all be doing in the future."
Established by the Prince's Accounting for Sustainability Project (A4S) and the Global Reporting Initiative, the IIRC's remit is to create a globally accepted framework for accounting for sustainability: a framework which brings together financial, environmental, social and governance information in a clear, concise, consistent and comparable format - put briefly, in an "integrated" format. The intention is to help with the development of more comprehensive and comprehensible information about an organisation’s total performance, prospective as well as retrospective, to meet the needs of the emerging, more sustainable, global economic model.
The IIRC comprises a Steering Committee and a Working Group. The Steering Committee is chaired by Sir Michael Peat, Principal Private Secretary to HRH The Prince of Wales and the Duchess of Cornwall, with Professor Mervyn King, Chairman, King Committee on Corporate Governance and Chairman, Global Reporting Initiative, as Deputy Chairman. The Working Group has co-chairmen: Paul Druckman, Accounting for Sustainability Executive Board Chairman, and Ian Ball, Chief Executive Officer, International Federation of Accountants.
See the list of the members of the IIRC Steering Committee
See the list of the members of the IIRC Working Group
The Prince’s Accounting for Sustainability Project (A4S)
Climate change and the over-consumption of finite natural resources present significant risks that will have a profound impact on society and the economy. The A4S project was launched in 2004 by HRH The Prince of Wales to develop decision-making and reporting systems that take into account the longer-term and broader consequences of actions and are capable of responding to the sustainability challenges faced in the 21st century. A4S works with businesses, investors, governments, accounting bodies, civil society and academics to build an international consensus around the need for a generally accepted integrated reporting framework and to develop practical guidance and tools to embed sustainability into decision-making processes.
Global Reporting Initiative
The Global Reporting Initiative has pioneered the development of the world’s most widely used Sustainability Reporting Framework and is committed to its continuous improvement and application worldwide. This framework sets out the principles and indicators that organisations can use to measure and report their economic, environmental and social performance.