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Climate change and financial statements

Auditors increasingly need to consider how climate risks such as weather events, and the challenges of transitioning to net-zero, may have an impact on financial statements. Lesley Meall shares some key thoughts and tips from auditors, regulators, standard-setters and ICAEW.

We have all done our bit to contribute to climate change, and we must all do our bit to curtail it. Fortunately, many accountants are able to make a difference both personally and professionally. “As trusted advisers to all types of businesses, we are well placed to drive the sustainability agenda and turn the ambition of a low-carbon world into a reality,” says ICAEW’s CEO Michael Izza.

ICAEW has been actively pursuing this ambition for some years by taking a lead on its journey to carbon neutrality; collaborating on initiatives such as the Professional Bodies Climate Action Charter; and providing members with a specialist Climate Hub’ of resources, information and inspiration.