HRH The Prince of Wales

HRH THe Prince of Wales' Speech - The Prince's Accounting for Sustainability Project

FORUM PRINCIPLES

In July 2009, the Forum's 16 accounting body members from around the world signed up to a set of sustainability principles developed by the Project.

Overview

The Forum's principles promote "connected reporting" (reporting that connects an organization's sustainability impacts with its financial performance more clearly, concisely and consistently) and commits participants to collaborative research and training in this area.

By signing the principles, participants acknowledge the crucial role that accounting for sustainability must play in providing today's decision makers with the information they need, but also educating tomorrow's accountants to embed sustainability throughout the profession.

The Principles

The principles of The Accounting for Sustainability Forum are:

1.      Influence and inform

To promote accounting for sustainability and the benefits of "connected reporting" (reporting that connects an organization's sustainability impacts with its financial performance more clearly, concisely and consistently).

2.      Lead by example 

To embed accounting for sustainability within our own organizations' strategy and operations.

3.      Drive thought leadership

To increase understanding of good sustainability practices by commissioning and/or participating in work related to accounting for sustainability.

4.      Collaborate through the Forum

To share learning and experience with other Forum participants and to work together to advance better accounting for sustainability.

5.      Incorporate accounting for sustainability within training and professional education

To incorporate accounting for sustainability in training programmes for employees, suppliers, students, members and others, in professional and academic qualifications and in professional development requirements.

Who has signed up?

The Forum's Accounting Bodies Network has signed up to the above five principles. The members of this network are:

  • American Institute of Certified Public Accountants (AICPA)
  • Association of Chartered Certified Accountants (ACCA)
  • Chartered Accountants of Canada (CICA)
  • Chartered Institute of Management Accountants (CIMA)
  • Chartered Institute of Public Finance and Accountancy (CIPFA)
  • Consultative Committee of Accountancy Bodies (CCAB)
  • Global Accounting Alliance (GAA)
  • Hong Kong Institute of Certified Public Accountants (HKICPA)
  • Institut der Wirtschaftsprüfer in Deutschland (IDW Germany)
  • Institute of Chartered Accountants in Australia (ICAA)
  • Institute of Chartered Accountants in England and Wales (ICAEW)
  • Institute of Chartered Accountants in Ireland (ICAI)
  • Institute of Chartered Accountants of Scotland (ICAS)
  • Japanese Institute of Certified Public Accountants (JICPA)
  • New Zealand Institute of Chartered Accountants (NZICA)
  • South African Institute of Chartered Accountants (SAICA)


Who can sign up?

The accounting bodies are the first group of Forum members to formally sign up to the principles. However, they have been designed to enable other organizations participating in the Forum (companies, public sector bodies, academic institutes and non-governmental organizations) to commit to them.