Environmental, social and governance

WORLDWIDE ACCOUNTING PROFESSION’S CALL TO ACTION ON CLIMATE CHANGE

CPA Australia has joined many of the world’s largest professional accounting organisations committing to a call to action in response to climate change. The 14 organisations represent 2.5 million accountants globally. The call to action recognises the crucial role of the accounting profession in addressing climate change. Professional accountants are represented in every sector across the economy, and are uniquely positioned to enact meaningful and positive change through a collective effort. Read here.

For more resources, guides and research to help you, see our Climate and Risk Policy Page

REPORT: AUSTRALIA’S INTERNATIONAL CLIMATE CHANGE COMMITMENTS

ACCOUNTING ASSUMPTIONS AND AUDITING OF CLIMATE RISK DISCLOSURES

Climate change has rapidly evolved from an ethical, non-financial issue to one that has material impacts on financial performance, position and prospects. The various tools and practices of accounting are an essential part of this market and economic transformation – the precise nature of which is only now starting to become understood. CPA Australia has commissioned research from the University of Melbourne, The Commonwealth Climate and Law Initiative and MinterEllison to explore the impacts on the accountancy profession.

Download the research report

CONSIDER CLIMATE-RELATED RISKS, REGARDLESS OF FINANCIAL IMPACT

Due to the importance of climate-related risks to investor's decision making, entities can no longer treat climate-related risks as merely a matter of corporate social responsibility and should also consider them in the context of their financial statements. Find out how this could affect you.

View the Australian Accounting Standards Board's:

• Climate-related and other emerging risks disclosures: assessing financial statement materiality using AASB/IASB Practice Statement 2