2021 IFAC EdExchange Summit: Leading Sustainability

Investors have always been a primary user of information prepared and assured by the accountancy profession. However, as considerations change for how investment funds are allocated to account for emerging environmental, social, and governance (ESG) risks and, to some, achieve new sustainability objectives, the information required to do so also changes. Mirtha Kastrapeli, Founder and CEO, Beyond Alpha, and Fellow at Colombia University’s Center on Sustainable Investment, discusses accountants’ role in meeting these changing needs. 

Rayne van den Berg, CFO, Forico, comes together with Mark Gough, CEO, Capitals Coalition, and Julia Bilyanski, Partner, KPMG, to demonstrate how the idea of valuing an organization’s natural capital can come to fruition in an assured natural capital report that values Forico’s Net Natural Capital at AU$3.37 billion.

IFAC CFO Russell Guthrie will moderate a panel of organizational leaders on their expectations of the accountants within the organizations they lead, serve or are charged with governing, including examples from their own experience on the skills and competencies needed to lead sustainability initiatives.

Moderated by Russell Guthrie, CFO, International Federation of Accountants

Panelists:

• Shelly Fust, Senior Client Partner and Sustainability Practice Lead, Korn Ferry

• Irene Ho, CEO, The Luxury Network Singapore

• Sophie Howe, Future Generations Commissioner for Wales

• Paula Loop, Board Member, Fastly and Robinhood Markets

Simon Weaver, Partner, KPMG, and head of KPMG’s climate risk and decarbonisation strategy team, details how he developed teams and processes within organizations and within his own firm to meet the climate reporting needs of today’s stakeholder.

Throughout the Summit, you will hear about the need for the accountancy profession to play a leading role in sustainability related services for many stakeholders. Identifying relevant and transparent disclosures has long been a foundational skill in our toolkit but we now have more users to consider. Uantchern Loh, Chief Storyteller, Black Sun PLC, helps bring together how professional accountants can leverage their skills to balance the needs of a broadening base of stakeholders who want to understand how organizations are addressing sustainability risks to the organization and to society.

Continuing the conversation with the accountancy profession’s stakeholders, this session brings together audit institution and regulator representatives. Moderated by Professor Chiara Mio, an IFAC Board Member, learn from members of the African Organization of Supreme Audit Institutions - English Speaking (AFROSAI-E) and the Independent Regulatory Board for Auditors (South Africa) on their expectations for the sustainability journey the profession should embark upon.

Moderated by Chiara Mio, IFAC Board Member and Professor at Ca' Foscari State University of Venezia

Panelists:

• Nancy Gathungu, Auditor-General of the Republic of Kenya and Vice Chairperson of the African Organization of Supreme Audit Institutions - English Speaking
• Nadine Kater, Director, Education and Transformation, Independent Regulatory Board for Auditors

Moderated by Nick McGuigan, hear from leaders in the accountancy professions on sustainability and the need for the profession to act—and why acting on climate and diversity-related matters will help transform accountancy into a long-term sustainable profession. Speakers will discuss their experiences leveraging skills and competencies to advance climate and diversity. In addition, panelists will address how a profession that is over 100 years old can transform into a profession that attracts future talent that can put the same skills and competencies to use in different ways in the interest of the public.

Moderated by: Nick McGuigan, Director Equity, Diversity & Social Inclusion, Monash Business School (Australia)

Panelists:

• Caroline McGroary, Lecturer in Accounting, Dublin City University
• Rochelle Moras, Audit Associate, KPI
• Gareth Parkin, CFO and Senior Vice President, Messer Americas

As part of IFAC’s focus on sustainability, IFAC and AICPA-CIMA released a sustainability assurance benchmarking study in June 2021 that provides a comprehensive overview of global status. IFAC Public Policy & Regulation directors Scott Hanson and David Madon present the study’s findings and the next steps IFAC is encouraging professional accountants take.