In September 2020, SASB and four other sustainability framework and standards organisations announced their intention to work together to create a comprehensive approach to corporate reporting. The five bodies are:
• Corporate Reporting Dialogue (CRD) • The Climate Disclosure Standards Board (CDSB)
• The Global Reporting Initiative (GRI) • The International Integrated Reporting Council (IIRC) • The Sustainability Accounting Standards Board (SASB) (Accessed 16 September 2020). In November 2020, SASB announced their intention to merge with the International Integrated Reporting Council (IIRC) to created single organisation called the Value Reporting Foundation. This is expected to happen by the middle of 2021. (Accessed 25 November 2020). IFAC, the global body of the accounting profession, called for the creation of a new sustainability standards board that would exist alongside the IASB under the IFRS Foundation. (Accessed 25 September 2020)
As of June 2020, 55 percent of companies that are reporting using the SASB Standards are domiciled with the United States.(Accessed 14 September 2020).
In July 2020, SASB announced the creation of a collaborative workplan with the Global Reporting Initiative (GRI). The collaboration aims to, ‘demonstrate how some companies have used both sets of standards together and the lessons that can be shared’ and provide greater clarity inthe sustainability reporting ecosystem. (Accessed 16 September 2020).
Larry Fink. A fundamental reshaping of finance. January 2020. (Accessed 9 June 2020).
CGMA is the most widely held management accounting designation in the world. It distinguishes more than 137,000 accounting and finance professionals who have advanced proficiency in finance, operations, strategy and management. In the United States, the vast majority also are CPAs. The CGMA designation is underpinned by extensive global research to maintain the highest relevance with employers and develop competencies most in demand. CGMA designation holders qualify through rigorous education, exam and experience requirements. They must commit to lifelong education and adhere to a stringent code of ethical conduct. Businesses, governments and not-for-profits around the world trust CGMAs to guide critical decisions that drive strong performance. cgma.org
The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs® (AICPA) and the Chartered Institute of Management Accountants® (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 650,000 members and students in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMA designation holders and accounting and finance professionals globally. aicpa-cima.com
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Kenneth W. Witt Senior Manager, Management Accounting & Member Engagement Association of International Certified Professional Accountants
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