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 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