By expressing issues such as low pay or overuse of carbon as 'externalities', we have let company directors, their auditors and investors off the hook – ignoring actions they could take using existing accounting standards, warns Jeremy Nicholls.
From aircraft safety to finance, we live our lives by standards. But many simply reinforce patriarchy – not least in financial accounting. With developments like AI exacerbating prejudices, there’s an urgent need for change, says Jeremy Nicholls.
Current guidance on how to prepare a financial report ignores their biggest user – one that's interested in much more than just money. It's causing billions in wasted resources, writes our columnist.
Much-anticipated reporting requirements for companies worldwide aim to provide reliable and comparable information to investors, while “reducing opportunities for greenwashing”.
