Question

what is a b corportation? what is a b certified company? What skills do accountants and auditors need to have in order to leverage technology and intelligience (artificial, cultural and emotional) to help these types of companies succeed and grow? Pick a b-certified, B corporation or other company focused on social good.

Answer 1

B corporation or can be said that benefit corporation are the one which are not a for- profit entity but a for-profit corporation that is legally government recognised firm. It is basically a type of corporation.

It focuses on accountability, transparency and various purposes being shared including creating value for shareholders.

B certified companies are the companies which are certified by B labs which is non profit organization that they have met the highest standards of performance concerning the society and environment, mains public transparency and legal accountability that very well balances both the profits being made and purposes being served.

These are very much concerned regarding the environment and maintaining a sustainable economy. They contribute to the efforts made by government and various other non profit organizations.

Accountants and auditors should definitely manage certain skills to help these companies grow and succeed.

The financial reports made by the auditors should be efficiently reflecting the CSR performed by these companies. This will not only help grow that company, but also other companies would also come forward to contributing to the environment and society.

The audiots should adopt the skills of working independently and impartially doing all auditing, as being involved in any type of fraud would make the reputation of the company go down, whether how much they would be contributing to the society.

Auditors and accountants should not only make companies focus on making profits but they should be pushed forward to make contributions to environment as well as performing their profit works.

So it can be said that both the motives should go hand in hand. Being only profit minded can never lead to full growth of the company.

If we search for certain b certified companies, we should consider Cascade Engineering in US, which is very much concerned regarding the environment as it contributes in diverting its almost total waste produced because of various activities from landfills. They are quite determined and focussed abpunt maintaining sustainability.