Title image: A call to action in response to climate change: The accountancy profession can contribute positively. Professional accountants have a responsibility to act in the public interest. Many argue that this responsibility must now include helping organizations to address climate change.
The Future of Accounting: Information for our clients
Triple Bottom Line Accounting is a traditional accounting practice: We help people choose the correct structure for what they want to achieve, aligning their organisation to the most appropriate type of entity, be that sole traders, partnerships, limited companies, not-for-profit organisations or charities. We prepare and file your accounts, but we do so much more! We help clients who are working towards a future that is more environmentally conscious and socially fair. Our services also include carbon accounting, net zero plans and other ESG impact services – take a look at our website for more information.
The Future of Accounting: For other accountants
Part of our ESG advocacy involves helping other, more traditional accountants adapt to a new accounting method that measures and reports on social and environmental impact. Moving away from compliance, which is becoming increasingly automated, and into an advisory role. Accounting for natural and social capital alongside monetary capital.
In the last three months, we have been particularly busy advocating for change.
Image of Dr Peter Ellington presenting in Bordeaux: courtesy of the INAA
INAA: How accountants can help their clients become sustainable
On 17th November, Peter and Fran Ellington presented to the INAA Group in Bordeaux. The INAA is an international accounting association of independent firms established over 30 years ago to help accountants and auditors expand their business around the globe. We covered the following topics:
- What are the sustainability issues facing society?
- The institutional response
- The Triple Bottom Line Accounting story
- Climate change mitigation and adaptation are urgently needed: why aren’t we reacting faster?
- TBLA Net Zero Workshops
- How does this effect the way accountants manage the finances and accounting for clients and organisations?
Thank you to Nadège Mullier and her team for organising such a fantastic day, including a splendid gala dinner to celebrate 30 years since the founding of the INAA.
Image of Fran Ellington presenting in Bordeaux: courtesy of the INAA
AccountingWeb Live Expo: The New Advisory Pitch
At the AccountingWeb LIVE EXPO in Coventry at the end of November, in response to Peter’s 10-minute pitch, the audience voted for “Sustainability” as the best new advisory service.
CPD: Sustainability for Accountants – with the Association of International Accounts (AIA)
Since November, Andrea Finegan, Fran Ellington and Peter Ellington have been running one-hour sessions for the AIA Association of International Accountants (AIA) on Sustainability for Accountants. You can book the January session via this link. Otherwise, contact the AIA to listen and watch the November and December recordings. The slide packs include recommendations for further resources and reading material, including books and websites.
The Future of Accountancy: trends to watch out for in 2023
The video below is an extract from a webinar hosted by FreeAgent that took place on 8th December 2022. Peter was predicting trends in accounting for 2023. You can find the full recording here.
Accountants have the superpowers to save the world!
Become a climate activistcountant!
Further information:
Accountants and SMPs (Small and Medium-sized Practices)
If you are an accountant in industry or practice and want to learn more, we are here to help. Climate change mitigation requires partnership, not competition! Our outreach aims to make sustainability more accessible to accountants and accelerate the change to Net Zero.
Where to start: Businesses
What if your accountant is not helping you to become sustainable? Please point them in our direction – we can help them to help you!
Our carbon accounting and net zero services
Suppose you manage an SME (small or medium-sized enterprise). We can help you to:
- Educate your team about the role of business in mitigating and adapting to climate change.
- Find the most efficient way to measure your greenhouse gas emissions for your entity.
- Understand the reasons why you need to measure all three scopes – direct, indirect and value chain emissions
- Set an achievable target to reach net zero emissions with a strategy embedded in budgets and cash flow forecasts.
- Scenario planning for the various consequences of global warming exceeding 1.5 degrees Centigrade. See the diagram below from the TCFD
Image courtesy of the Task Force for Climate Related Financial Disclosures (TCFD)
Fran joined TBLA in 2019 after a long career in teaching. Her roles include human resources management, ESG and Marketing. During 2020 and 2021 she developed the TBLA Environmental, Social and Governance (ESG) impact service. As part of the process, she has carried out an impact analysis of the TBLA social and governance profile and a whole company carbon calculation with accompanying target setting, carbon reduction action plan and impact narrative. Fran is now working alongside the growing ESG team to help more SMEs plan for Net Zero around the UK. Fran is also on the board of the Norwich Business Climate Leaders hoping to accelerate the transition to Net Zero.
