Question

With the growing importance of addressing environmental matters and societal challenges in the past decade, there has been increasing emphasis globally on the reporting of non-financial information.

How relevant do you think the role of the accountant will be in the environment where there is increased focus on non-financial information?

May I please get help with this question. Please and Thank You.

Answer 1

There is an increased role of an accountant in the environment where the focus is on non-financial information. The role of an accountant would include the following:

1. Integrating non-financial information with the system used for preparing financial information. This would help in connecting the data and would also increase accuracy and real-time updation of information.

2. Integration of non-financial information with financial information would also help the management in understanding the sustainable value creation and taking decisions.

3. Control over the non-financial information can be achieved by utlizing the professional experience of an accountant. Thus, non-financial information would be treated on same lines as financial information. This would in turn boost investor's confidence in the data provided to them.

4. Accountants may collate the data from various sources and provide useful information to the management for decision making.