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
Accounting Blueprint Repository
Lead Authors
Dr. Carol A. Adams
Professor of Accounting
Durham University Business School
Dr. Cornelis T. Van Der Lugt
Senior Research Fellow
Centre for Corporate Governance, Stellenbosch University Business School, South Africa
Working Group Members
Prof. Carol Adams
Durham University Business School
Wim Bartels
KPMG
Prof. Thomas Berndt
St Gallen University
Claudine Blamey
The Crown Estate
Alexsandro Broedel Lopez
Itaú Unibanco
Andrew Collins
SASB
Prof. Jeffrey Hales
Georgia Tech University
Paul Hurks
NBA
Tjeerd Krumpelman
ABN AMRO
Tatiana Krylova
UNCTAD
Shari Littan
Thomson Reuters
Zimkita Mabindla
SAICA
Mark W. McElroy
Founding Director, CSO / Co-Creator, MultiCapital Scorecard
Prof. Michiyasu Nakajima
Kansai University
Jeremy Nicholls
Social Value International
Prof. Rene Orij
Nyenrode Business University
Giorgio Saavedra
World Bank
Neil Smith
AEGON
Imad Terrahi
AEGON
Anne Thomas
The Crown Estate
Nick Topazio
CIMA
Cornis Van der Lugt
BSD Consulting
Zinga Venner
World Bank
Kenneth Weldin
PKF Australia
Yuki Yasui
UNEP Finance Initiative
