The Institute of Management Accountants (IMA) recently announced the establishment of a Sustainable Business Management Global Task Force (IMA.SBM.GTF) to speak on behalf of the management accounting profession, accountants, and finance professionals in business.
This comes as governments, regulators, and standard-setters debate the future of accounting and a range of new corporate reporting requirements ahead of the November 2021 UN Conference of Parties 26 in Glasgow, with major announcements expected from several authoritative bodies, the IMA noted.
As one of its primary objectives, the Task Force is defining a set of fundamental principles for building a successful and sustainable accounting ecosystem.
“As the world continues to change, so too must business change to focus more holistically on sustainable business management for long term value creation,” said Jeff Thomson, IMA President and CEO. “IMA is making the case that sustainable business is good business in a complex, uncertain, and multi-stakeholder environment. We’ve shown the world accountancy for the 21st century—how the CMA certification is different because the body of knowledge emphasises strategic thinking, analytics, decision making, and business leadership across an organization for both tangible and intangible value creation.”
According to IMA, the task force will look to:
- Advocate on behalf of the profession before governments, regulatory authorities, and other organisations on sustainable business management and the perspectives of accountants and financial professionals in business.
- Educate IMA members and the global business community on the role of accounting and finance professionals with respect to sustainable business information and management.