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September. New Reporting Models and Sustainability (Kiev. Ukraine)
On September 23, 2011 a workshop “Implementation of new reporting models in accordance with modern practice of business forecasting” was held by ACCA Ukraine, Baltic and Caucasus States and Business Education Alliance at Radisson Blu Hotel Kyiv.
Nataliya Vovchuk, Head of ACCA Ukraine, Baltic and Caucasus States opened the event and introduced attendees to new reporting models.
The workshop was conducted by Henning Drager, BDO Ukraine CSO – Chief Sustainability Officer with more than 12 years of experience at sustainability area, and consist of 3 sessions:
Session 1. “Decoding Sustainability: grasping the nettle”
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What is sustainability?
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What are its predicted consequences for society, government and business in Ukraine and beyond?
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What political, economical and societal steps are taken to address the sustainability challenge in Ukraine and beyond?
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What are the rough choices based on the latest science?
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What are the proposed solutions?
Session 2. “Accounting for Sustainability – accounting and audit solutions” What get’s measured get managed...
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Legislative frameworks and initiatives from around the world including Ukraine
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Introduction to accounting and reporting solutions including full cost accounting, non-financial reporting, narrative reporting, accounting for biodiversity, carbon accounting, water accounting, sustainability audit and assurance
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Main focus on the latest development: Integrated Reporting and endorsement by IFAC and IFRS (guidance to follow later in the year)
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Company examples, reasons for doing it, future outlook, profitability and role of the accountant/financial controller/internal and external auditor/assurance provider
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If possible: find Ukrainian views and examples
Session 3. “Sustainability and your company – many small steps”
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The importance materiality (what is most important to your company)
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Examples of carbon audit and other sustainability approaches from Ukraine and abroad / IFRS guidance on non-financial reporting
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Legislation overview (latest)
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Teasing out the benefits for your company (collection, reporting, assurance of data) including branding, competitive advantages, transparency
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Where to start your journey – top tips
Sessions were followed by discussions and exercises.