Blueprint 2: Accounting

Laying the foundations for future-ready reporting

How can accounting and corporate finance be transformed to serve a new purpose? How can it serve a multi-capital green & inclusive economy definition of success and value-creation in a circular economic setting? How can accounting be redefined as being not only about recording financial transactions, but about tracking of both financial and extra-financial data and their forward-looking interpretation in an appropriate context? This includes a context of addressing risks and opportunities associated with diverse (e.g. social, natural) capitals. Answering these questions include consideration of new innovations such as the development of integrated reporting, contextualization, monetisation and internalisation, as well as new integrated statements such as alternative P&L accounts and balance sheets. It also includes working with new interpretations of materiality, related thresholds and appropriate timeframes in decision-making. Evidently mainstream financial managers, accountants, and assurance providers vary considerably in their preparedness for these transformative changes.

Accounting Blueprint

Lead Authors

Dr. Cornelis T. Van Der Lugt

Senior Research Fellow

Centre for Corporate Governance, Stellenbosch University Business School, South Africa

Dr. Carol A. Adams

Professor of Accounting

Durham University Business School

Working Group Members

Prof. Carol Adams

Prof. Carol Adams

Durham University Business School

 

Wim Bartels

Wim Bartels

KPMG

 

Claudine Blamey

Claudine Blamey

The Crown Estate

 

Alexsandro Broedel Lopez

Alexsandro Broedel Lopez

Itaú Unibanco

 

Andrew Collins

Andrew Collins

SASB

 

Prof. Jeffrey Hales

Prof. Jeffrey Hales

Georgia Tech University

 

Paul Hurks

Paul Hurks

NBA

 

Tjeerd Krumpelman

Tjeerd Krumpelman

ABN AMRO

 

Tatiana Krylova

Tatiana Krylova

UNCTAD

 

Shari Littan

Shari Littan

Thomson Reuters

 

Zimkita Mabindla

Zimkita Mabindla

SAICA

 

Prof. Michiyasu Nakajima

Prof. Michiyasu Nakajima

Kansai University

 

Giorgio Saavedra

Giorgio Saavedra

World Bank

 

Neil Smith

Neil Smith

AEGON

 

Imad Terrahi

Imad Terrahi

AEGON

 

Anne Thomas

Anne Thomas

The Crown Estate

 

Nick Topazio

Nick Topazio

CIMA

 

Cornis Van der Lugt

Cornis Van der Lugt

BSD Consulting

 

Kenneth Weldin

Kenneth Weldin

PKF Australia

 

Zinga Venner

Zinga Venner

World Bank

 

Yuki Yasui

Yuki Yasui

UNEP Finance Initiative

 

Prof. Thomas Berndt

Prof. Thomas Berndt

St Gallen University

 

Jeremy Nicholls

Jeremy Nicholls

Social Value International

 

Prof. Rene Orij

Prof. Rene Orij

Nyenrode Business University

 

Mark W. McElroy

Mark W. McElroy

Founding Director, CSO / Co-Creator, MultiCapital Scorecard

 

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