Climate change and financial statements

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Auditors more and more will need to take into consideration how local climate risks such as climate events, and the issues of transitioning to internet-zero, may have an impact on monetary statements. Lesley Meall shares some important thoughts and tips from auditors, regulators, typical-setters and ICAEW.&#13

We have all carried out our bit to lead to climate change, and we must all do our bit to curtail it. Fortunately, quite a few accountants are ready to make a difference the two personally and skillfully. “As trustworthy advisers to all varieties of businesses, we are very well positioned to travel the sustainability agenda and switch the ambition of a very low-carbon environment into a truth,” claims ICAEW’s CEO Michael Izza.

ICAEW has been actively pursuing this ambition for some years by getting a guide on its journey to carbon neutrality collaborating on initiatives this kind of as the Expert Bodies Climate Motion Constitution and offering users with a expert ‘Climate Hub’ of methods, data and inspiration.