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AICPA & CIMA brief: Accounting for Nature

he third in a series of four AICPA & positive”, which increases biodiversity, ten accounting bodies, highlights the
TCIMA “Accounting for” briefs is stores carbon, purifies water, and vital role professional accountants play
Accounting for Nature. lowers pandemic risk, into internal and and how they should commit to helping
This brief is designed to help finance external reporting. reverse the process of nature loss.
professionals build their accounting A total of 196 countries and parties
for nature literacy, allowing their adopted the Post-2020 Global Biodiversity
organisations, firms, and clients to Framework at the UN biological diversity
adapt new business models that reduce conference (COP15) in December 2022.
their impact on biodiversity. Directly This new set of global goals to protect
understanding the material impact and restore nature by 2050 has been
of nature on an organisation, and the described as the nature equivalent to
impact of an organisation on nature, not The Paris Agreement on climate change
only builds future business resilience in 2015. These global biodiversity goals
but can also help reverse dramatic will be translated into national and
nature loss. business targets for making mainstream
The brief includes ways to integrate in economic activity.
accounting for nature into businesses’ In March 2022, AICPA & CIMA signed
long-term decision-making. It also the Global Accounting Alliance’s call to
includes ways to incorporate the action on nature for the accountancy
progress towards becoming “nature profession. The call to action, signed by
AICPA & CIMA launch ESG UK member awarded
fundamentals certificate CIMA bronze medal

ICPA & CIMA offer a new certificate course listair G. Taylor, FCMA, CGMA,
Athat provides foundational knowledge on Areceived the CIMA bronze medal in
critical topics related to environmental, social, 2022 for his considerable and
and governance (ESG) reporting, advisory, and invaluable contribution to the Institute
assurance. — in Scotland and the West Midlands in
TOP RIGHT: PHOTO BY BAAC3NES/GETTY IMAGES; BOTTOM RIGHT: PHOTO BY DALE MARTIN/DM PHOTOS
The Fundamentals of ESG Certificate the UK and internationally whilst a
is available globally and is appropriate for member of CIMA Council between 2011
accounting and finance professionals looking and 2017. Taylor’s service includes as a
to obtain a baseline knowledge of ESG topics. membership assessor and on several
The course is available in the AICPA Store CIMA committees previously.
and the CGMA Store.

Global risk report GLOBAL STATE OF ENTERPRISE
published RISK OVERSIGHT
Managing the Rapidly Evolving Risk Landscape
5TH EDITION | SEPTEMBER 2022
MARK S. BEASLEY BRUCE C. BRANSON
he evolving global risk landscape is outpacing KPMG PROFESSOR PROFESSOR
ASSOCIATE DIRECTOR, ERM INITIATIVE
DIRECTOR, ERM INITIATIVE
Torganisational preparedness, a global report Jointly Commissioned by the
by AICPA & CIMA and North Carolina State Poole
2022
College of Management in the US has found.
The report, 2022 Global State of Enterprise
Risk Oversight: Managing the Rapidly Evolving Risk Landscape, summarises
insights from 747 global senior finance and business leaders.
Around 60% of global finance and business leaders agree that the volume
and complexity of corporate risks have increased “mostly” or “extensively” over
the past five years, the report said. However, only around one-third to half of
respondents have complete enterprise risk management processes in place.
The report includes detailed analyses of specific aspects of risk management John Hindson, FCMA, CGMA, (left)
practices that business leaders can use to identify potential opportunities for presents Alistair G. Taylor, FCMA,
improvement. CGMA, with the CIMA bronze medal.

FM-MAGAZINE.COM February 2023 I FM MAGAZINE I 41