Tag: accountability

  • Multi-Capital Accounting

    Multi-Capital Accounting Multi-capital accounting is an approach championed by the Capitals Coalition that provides frameworks to identify, measure, and value the contributions an organisation receives from various capitals, including natural, social, human, and financial resources. By assessing how these capitals are utilized, impacted, and interconnected, this approach helps organizations gain a comprehensive understanding of their…

  • Stakeholder Engagement

    Stakeholder Engagement Stakeholder engagement is an ongoing process used in business, government, and non-profits to ensure that projects and decisions are inclusive and responsive to those affected. It typically involves analyzing and planning for stakeholders, sharing information, consulting for meaningful participation, managing grievances, involving stakeholders in monitoring, and regular reporting. Common methods include consultations, surveys,…

  • Non-Financial Reporting Directive

    Non-Financial Reporting Directive The Non-Financial Reporting Directive (NFRD) is an EU regulatory framework compelling over 11,000 companies to monitor and disclose their ESG performance. It applies to large entities with over 500 employees operating within the EU. Covered entities are required to include non-financial information in their annual reports, detailing their policies, risks, and outcomes…

  • Materiality

    Materiality Materiality, a cornerstone of accounting and auditing, is based on the idea that if information is material, its omission or misstatement could impact users’ decisions. Essentially, materiality involves gauging the importance of information in financial statements — information that carries a substantial likelihood of influencing the investment decisions of reasonable investors. This assessment of…

  • Environmental footprint reporting

    Environmental footprint reporting Environmental footprint reporting refers to the process of assessing and disclosing the environmental impact of an organization’s activities, products, or services. This reporting provides insight into various aspects of environmental performance, such as greenhouse gas emissions, water usage, energy consumption, or waste generation. Reporting can be done voluntarily by organizations or individuals…

  • Corporate Governance

    Corporate Governance Corporate governance encompasses the framework and practices governing how companies are managed and the purposes they serve. It delineates an organization’s power structure, accountability mechanisms, and decision-making processes. Essentially, it comprises a set of tools enabling management and the board to operate an organization efficiently and effectively. Key components of corporate governance include…

  • Corporate Controversies

    Corporate Controversies Corporate controversies refer to instances where a company becomes embroiled in public disputes, criticisms, or scandals related to its actions, decisions, or practices. These controversies often arise from perceived unethical, illegal, or socially irresponsible behavior by the company, its executives, or its employees. They can encompass a wide range of issues, including environmental…

  • Sustainability Accounting Standards Board (SASB)

    Sustainability Accounting Standards Board (SASB) The Sustainability Accounting Standards Board (SASB) is an organization that develops industry-specific standards to help companies disclose material sustainability information to investors. Founded in 2011, SASB provides clear guidelines for reporting on ESG factors that could affect a company’s financial performance. By focusing on sector-specific materiality, SASB standards allow businesses…