International accounting rulemakers need to create formal requirements for companies to report how their businesses affect global warming, the rights of workers, and sustainable development, the International Federation of Accountants said Friday.
The federation called for the London-based International Financial Reporting Standards Foundation to create a new standard-setting board devoted solely to such issues.
“The time for a global solution is now,” said Kevin Dancey, CEO of IFAC. The group’s request was backed by the American Institute of CPAs, the International Integrated Reporting Council, and the head of corporate reporting at Deloitte LLP.
Companies may voluntarily report...