IMA creates a global working group on sustainable business management

Last month, the Institute of Management Accountants (IMA) announced the creation of a Global Working Group on Sustainable Business Management (IMA.SBM.GTF) to speak on behalf of the management accountancy profession, accountants and corporate finance professionals.

It comes as governments, regulators and standard setters debate the future of accounting and a range of new business reporting requirements ahead of the 26th United Nations Conference of the Parties in November 2021 in Glasgow, with major announcements expected from several authoritative bodies.

“Today almost all of the focus in sustainable business is on external ESG reporting,” said Brigitte de Graaff, CMA, CSCA, President of IMA.SBM.GTF. “While this is important, it’s not the whole story. We want to lead the way by emphasizing the role of managerial accounting and finance in facilitating the creation of resilient and sustainable businesses. We aim to be the voice of the profession to ensure that management’s perspective in these important accounting changes is not overlooked but clearly visible.

As one of its main objectives, the Working Group defines a set of fundamental principles for building a successful and sustainable accounting ecosystem.
Fully supporting the formation of the task force, Jeff Thomson, President and CEO of IMA, said: “As the world continues to change, companies must also change to focus more globally on management. sustainable business for the creation of long-term value.

IMA argues that a sustainable business is good business in a complex, uncertain and multi-stakeholder environment. We have shown 21st century global accounting how CMA certification is different, as the body of knowledge emphasizes strategic thinking, analysis, decision making, and business leadership within an organization. organization for the creation of both tangible and intangible value.
The working group will seek to:

• Advocate on behalf of the profession to governments, regulators and other organizations on sustainable business management and the perspectives of accountants and corporate finance professionals.
• Educate IMA members and the global business community on the role of accounting and finance professionals in sustainable business information and management.

“The IMA is uniquely positioned to respond to the essential role of the profession in building sustainable businesses,” said Shari Littan, director of corporate reporting research and policy at IMA. “As this field continues to evolve, we will develop thought leadership and training to support our professionals, who will take on important responsibilities in meeting these ever-changing demands. We aim to support this in a way that creates value for all stakeholders, fosters trust and facilitates meaningful action. “

The IMA is one of the largest and most respected associations dedicated exclusively to the advancement of the profession of management accountant. Globally, IMA supports the profession through research, CMA (Certified Management Accountant) and CSCA (Certified in Strategy and Competitive Analysis) programs, continuing education, networking and advocacy for business practices. the most ethical.

IMA has a global network of around 140,000 members in 150 countries and 350 professional and student sections. Based in Montvale, New Jersey, IMA provides localized services in its four global regions: the Americas, Asia / Pacific, Europe and Middle East / India.

For more information on IMA, visit imanet.org.

Back to the index.

For reprint and license requests for this article, CLICK HERE.