As part of our partnership with The Institute of Internal Auditors (The IIA) and through drawing on the opinions of approximately 50 ACCA and IIA members together with over 900 survey respondents, this report considers how the implementation of internal control over sustainability data is progressing.
Three key messages from the report
- The nature of the process flows related to sustainability data require a reappraisal of the accepted internal control concepts to ensure that they can be applied appropriately.
- A successful implementation of internal control over sustainability data fundamentally relies upon the executive and management of the entity establishing sustainability objectives as core strategic objectives monitored by robust key performance indicators (KPIs).
- Data ownership that embraces internal control must be established, especially in areas where control consciousness is not fundamental to personal conduct and all those involved in internal control need the appropriate skill sets.
This report is aimed at the following audiences:
- Boards and executives – by focusing upon the imperative of sustainability and how accurate data drives organisational performance.
- CFOs and finance teams – through discussing the issues around how to establish internal control over non-financial data.
- Internal audit teams – in demonstrating the vital and proactive role of the third line in this area. The content available in addition to the main report includes a Shorthand site which summarises the report and provides downloadable action plans.
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