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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