The International Federation of Accountants and ThePrince's Accounting for Sustainability Project have entered into a memorandumof understanding to support the role of global accounting in developingsustainable organizations.
Key priorities in the MOU to include:
Raising awareness and facilitating sharing andcollaboration across the global accountancy community;
Establishing an international integrated reportingcommittee to develop a new reporting model to better reflect the impact offinancial, environmental, social and governance factors on the long-termperformance and condition of an organization; and,
Incorporating accounting for sustainability withinprofessional training and education.
The Prince's Accounting for Sustainability Project, whichwas created by the U.K.'s Prince Charles, works with businesses, investors, thepublic sector, accounting bodies, and academics to develop practical guidanceand tools for embedding sustainability into decision-making and reportingprocesses.
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