NEW DELHI: Finance Minister Nirmala Sitharaman has appealed to chartered accountancy professionals to develop sustainability reporting standards for better corporate governance and a sustainable world.
She said sustainability is laid on three pillars -- socio-economic, environmental and economic factors, which translate into people, planet and profit. Sitharaman, speaking at the inauguration of the 21st World Congress of Accountants (WCOA) organised by ICAI in Mumbai, commended the efforts of IFRS Foundation to form the International Sustainability Standard Board with an objective of developing global sustainability standards.
The focus of the World Congress of Accountants, being held for the first time in India, is sustainability as is evident from its theme Building Trust Enabling Sustainability. Addressing a congregation of over 6,500 accountants from across the world, she expressed hope that the delegates will discuss the issue of transparency, trust and sustainability over the course of the 4-day event.