How Corporate Reporting is changing to enhance ESG Reporting

We are at an inflection point in corporate reporting. Significant phenomena are occurring concurrently that are having unprecedented influence on the future of corporate reporting: convergence among proliferating standards and guidelines for meeting user information needs in the ESG reporting space. We are now in a time when the very purpose of a corporation is under reconsideration, along with emergence of the concept of accountability to all stakeholders, present and future, beyond just shareholders, for more than simply returns on financial investment. Alan goes on the outline the rapidly evolving standards that apply to Financial and ESG reporting.

Check out this article by Alan Willis in The Fall Issue of ThinkTWENTY20 “Purpose, Accountability and Value Creation: Paradigm Shifts in the Future of Corporate Reporting”. You can find the article here:

ESG and Other Issues Top of Mind in Fall Issue

There are few issues in the world today more important than climate change. We have been slow to react, despite persistent warnings from scientists and growing numbers of extreme weather events.

Governments have been hampered by politicization of the issue, leading to much talk and little real action. But hope springs from an unexpected source – companies reacting to pressure from investors and other stakeholders to take concrete steps to help with climate control. They are becoming increasingly accountable to those stakeholders for their actions in this regard. This has turned the spotlight to Environmental, Sustainability and Governance (ESG) reporting.

ESG reporting has been a part of corporate reporting for several years, but there has been a confusing variety of standards and other guidance. Properly developed, maintained and generally accepted ESG standards by the accounting profession have been largely absent, until recently. The establishment of the Sustainability Accounting Standards Board and the Value Reporting Foundation should change all that.

In the Fall Issue of ThinkTWENTY20, Alan Willis, FCA writes an extensive paper describing the standards and guidance that have evolved over recent years. It is essential reading for anyone interested in this area.

Another important issue for today’s financial professions is the implementation of Artificial Intelligence. For this issue, Gundi Jeffrey interviewed the MNP LLP about their progress to date. And Jaydeep Shah offers up a penetrating explanation of AI and its relationship with RPA. Also, Ed Hall provides a practical example of an AI based system being used to negotiate debt settlements.

Among the other articles, David Wray, author of the Amazon best-selling book The Power of Potential: A Straightforward Method for Mastering Skills from Personal to Professional gives us a compelling approach to improving our skills, a topic that is so important in this age of skill enhancement and re-skilling.

Eric Cohen provides valuable insight into the workings of cryptocurrencies, an area that continues to influence thinking on monetary control and management. And Jonathan Andrews provides a comprehensive review of Mark Carney’s book Values, which challenges the meaning of monetary as well as societal values.

As always, we strive to delve deeply into current issues and, we hope, help our readers reach a greater understanding of them. Your feedback is always welcome and can be sent to The Fall Edition of ThinkTWENTY20 can be found at

CPA Founding Partner

Chartered Professional Accountants of Canada (CPA Canada), one of the largest national accounting organizations in the world, has chosen to become a founding partner of ThinkTwenty20.