What CPAs Need to Know about ESG

Overview:

Sustainability and ESG (Environmental, Social, and Governance) considerations are integral components of modern business ethics, reflecting a corporation's commitment to responsible conduct that transcends financial gains. These principles guide businesses in aligning their operations with ethical values, ensuring environmental stewardship, social responsibility, and transparent governance.
 
For accountants, ESG and sustainability underscore their ethical responsibility to provide accurate and comprehensive financial information that reflects the broader impact of business activities on stakeholders and the planet. At the same time, considering and planning for ESG and sustainability related risk factors reflects preparation for long term growth and viability of an organization. As stewards of financial integrity, accountants play a pivotal role in quantifying and communicating ESG-related risks, opportunities, and performance, contributing to informed decision-making that reflects both financial and ethical dimensions.
 
The recent establishment of the ISSB and the increasing focus on ESG and sustainability related standards will require CPAs to be well-informed and provide guidance on these emerging matters. In the coming years, CPAs will play a central role in helping organizations deal with risk assessment and mitigation, evolving reporting standards, forecasting and strategic decision-making. CPAs must therefore adapt quickly and learn how to assist with developing, implementing and evaluating successful ESG and sustainability initiatives during these disruptive times.  
 
This session will highlight what ESG is, and how it is a part of the ethical responsibilities that professional accountants hold. ESG will be explored in depth as a business ethics activity, relating concepts of ethical principles and moral responsibilities to the emerging issues that CPAs will experience in the 21st century. A step-by-step approach will be shared with participants to help them begin their ESG journeys in their organizations.

Topics Covered:

  • Why ESG is a critical component of business ethics
  • How ESG relates to a CPA's ethical responsibilities and duty to protect the public interest
  • The history of “ESG” and factors driving the ESG movement
  • ESG reporting standards
  • How ESG impacts the accounting profession and why CPAs are essential in the ESG movement
  • How ESG relates to KPIs, ethics, business sustainability, governance, and internal control
  • ESG activities by industrial sectors
  • Return on investment on ESG initiatives
  • Challenges with ESG initiatives
  • The future of ESG


KEY TAKEAWAYS

By the end of this seminar, participants will be able to:

  • Define ESG
  • Explain how ESG relates to business and professional ethics
  • Explain the relationship between ESG and the role of the CPA
  • Describe how the regulatory environment is transforming and the new standards that are emerging across industrial sectors
  • Describe the emerging roles for CPAs in light of ESG initiatives
  • Explain the return on investment from ESG initiatives.


Founder and Lead Instructor, UltimQuest Knowledge Inc.

Arun K. Mathur, FCPA, FCA, LPA

Arun is Partner at Gerald Duthie & Co. LLP, where he provides professional services to a diverse group of clients. Arun is also Owner and Lead Instructor at UltimQuest Knowledge Inc. He has been delivering corporate training on improving governance, ethics, internal control, performance measurement and related topics. He provides live and online training through CPA bodies across Canada and Bermuda. Arun served for several years on the Board for HealthForce Ontario Marketing and Recruitment Agency, and was also Chair of the Finance and Audit Committee there and for the Trillium Gift of Life Network. He has served on the CMA Ontario's Review Committee prior to the merger.