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. 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

Prof. Carol Adams

Durham University Business School

Wim Bartels

Wim Bartels

KPMG

Prof. Thomas Berndt

Prof. Thomas Berndt

St Gallen University

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

Mark W. McElroy

Mark W. McElroy

Founding Director, CSO / Co-Creator, MultiCapital Scorecard

Prof. Michiyasu Nakajima

Prof. Michiyasu Nakajima

Kansai University

Jeremy Nicholls

Jeremy Nicholls

Social Value International

Prof. Rene Orij

Prof. Rene Orij

Nyenrode Business 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

Zinga Venner

Zinga Venner

World Bank

Kenneth Weldin

Kenneth Weldin

PKF Australia

Yuki Yasui

Yuki Yasui

UNEP Finance Initiative