Sustainable services: CPAs positioned for burst in opportunities

<!DOCTYPE html> <html prefix="og: http://ogp.me/ns# article: http://ogp.me/ns/article#" class="no-js"> <head> <title>Sustainable services: CPAs positioned for burst in opportunities</title> <link rel="shortcut icon" href="/content/dam/jofa/favicons/favicon.ico"/> <link rel="apple-touch-icon-precomposed" sizes="57x57" href="/content/dam/jofa/favicons/apple-touch-icon-57x57.png"/> <link rel="apple-touch-icon-precomposed" sizes="114x114" href="/content/dam/jofa/favicons/apple-touch-icon-114x114.png"/> <link rel="apple-touch-icon-precomposed" sizes="72x72" href="/content/dam/jofa/favicons/apple-touch-icon-72x72.png"/> <link rel="apple-touch-icon-precomposed" sizes="144x144" href="/content/dam/jofa/favicons/apple-touch-icon-144x144.png"/> <link rel="apple-touch-icon-precomposed" sizes="60x60" href="/content/dam/jofa/favicons/apple-touch-icon-60x60.png"/> <link rel="apple-touch-icon-precomposed" sizes="120x120" href="/content/dam/jofa/favicons/apple-touch-icon-120x120.png"/> <link rel="apple-touch-icon-precomposed" sizes="76x76" href="/content/dam/jofa/favicons/apple-touch-icon-76x76.png"/> <link rel="apple-touch-icon-precomposed" sizes="152x152" href="/content/dam/jofa/favicons/apple-touch-icon-152x152.png"/> <link rel="icon" type="image/png" sizes="196x196" href="/content/dam/jofa/favicons/favicon-196x196.png"/> <link rel="icon" type="image/png" sizes="96x96" href="/content/dam/jofa/favicons/favicon-96x96.png"/> <link rel="icon" type="image/png" sizes="32x32" href="/content/dam/jofa/favicons/favicon-32x32.png"/> <link rel="icon" type="image/png" sizes="16x16" href="/content/dam/jofa/favicons/favicon-16x16.png"/> <link rel="icon" type="image/png" sizes="128x128" href="/content/dam/jofa/favicons/favicon-128.png"/> <meta name="msapplication-TileColor" content="#FFFFFF" /> <meta name="msapplication-TileImage" content="/content/dam/jofa/favicons/mstile-144x144.png" /> <meta name="msapplication-square70x70logo" content="/content/dam/jofa/favicons/mstile-70x70.png" /> <meta name="msapplication-square310x310logo" content="/content/dam/jofa/favicons/mstile-310x310.png" /> <link rel="canonical" href="https://www.journalofaccountancy.com/news/2024/sep/sustainable-services-cpas-positioned-burst-opportunities.html"/> <meta http-equiv="content-type" content="text/html" charset="utf-8"> <meta http-equiv="X-UA-Compatible" content="IE=edge"> <meta charset="utf-8"> <meta name="viewport" content="width=device-width, initial-scale=1"> <meta name="msapplication-tap-highlight" content="no"> <meta property="og:title" content="Sustainable services: CPAs positioned for burst in opportunities" /> <meta property="og:type" content="article" /> <meta property="og:url" content="https://www.journalofaccountancy.com/news/2024/sep/sustainable-services-cpas-positioned-burst-opportunities.html" /> <meta name="description" content="As mandatory regulations related to reporting on and assurance of sustainability data begin to take hold, now is the time for CPAs in a variety of roles to position themselves to take advantage."> <meta property="og:description" content="As mandatory regulations related to reporting on and assurance of sustainability data begin to take hold, now is the time for CPAs in a variety of roles to position themselves to take advantage." /> <meta property="article:published_time" content="2024-09-03T14:23:11.000-04:00" /> <meta property="article:tag" content="Accounting & Reporting"/> <meta property="article:tag" content="Sustainability"/> <meta property="article:tag" content="Management Accounting"/> <meta property="og:site_name" content="Journal of Accountancy" /> <meta property="fb:app_id" content="613882402074338"/> <meta property="og:image" content="https://www.journalofaccountancy.com/content/dam/jofa/info/jofa-default-image.jpg"/> <script src="https://ajax.googleapis.com/ajax/libs/jquery/3.5.1/jquery.min.js"></script> <script> window.jQuery || document.write("<script src='/etc/clientlibs/dot-org/assets/jquery.min.js'><\/script>"); </script>  <link rel="stylesheet" href="/etc/clientlibs/aicpa/assets/publish.min.css" type="text/css"> <link rel="stylesheet" href="/etc/clientlibs/aicpa/assets.min.css" type="text/css"> <link rel="stylesheet" href="/etc/clientlibs/aicpa/assets/components-footer.min.css" type="text/css"> <script type="text/javascript" src="/content/jofa-home/news/2024/sep/sustainable-services-cpas-positioned-burst-opportunities/_jcr_content.adproperties.js"></script> <script src="/etc/clientlibs/aicpa/assets/vendor/modernizr.min.js"></script> <script src="/etc/clientlibs/aicpa/assets/components-header.min.js"></script> <script type="text/javascript" src="/etc/cloudservices/doubleclick-ads/jofa/_jcr_content.js"></script>  <script>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-ND9QBJ6');</script>  <script> !function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n; n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window, document,'script','https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '1572149056410857'); // Insert your pixel ID here. fbq('track', 'PageView'); </script> <noscript><img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1572149056410857&ev=PageView&noscript=1"/></noscript>  <script type="text/javascript" src="//s7.addthis.com/js/300/addthis_widget.js#pubid=ra-5afd8cf5c4eeb8ea"></script><script> var webData = [{ page: { pageName: "journal of accountancy:news:2024:sustainable-services-cpas-positioned-burst-opportunities", siteProperty: "journal of accountancy", siteSection: "news", siteSubSection: "2024", siteHierarchy: "journal of accountancy|news|2024", contentType: "" } }]; </script> <script src="https://assets.adobedtm.com/launch-EN2c0e28c6709c4e27a936ae1de1381bd2.min.js" integrity="sha384-0oD5l4LMjgfnMWxxFyeyqSUFT3lS5cnne4UZi9a5CoVhGGctt4V3egBrlto3uzhH" crossorigin="anonymous"></script><link rel="stylesheet" href="/etc/clientlibs/jofa/assets/components-header.min.css" type="text/css"> <link rel="stylesheet" media="print" href="/etc/clientlibs/jofa/assets/print.css" type="text/css"> <script type="application/ld+json"> {"@context":"http://schema.org","@type":"NewsArticle","mainEntityOfPage":{"@type":"WebPage","@id":"https://www.journalofaccountancy.com/news/2024/sep/sustainable-services-cpas-positioned-burst-opportunities.html"},"headline":"Sustainable services: CPAs positioned for burst in opportunities","image":{"@type":"ImageObject","url":"https://www.journalofaccountancy.com/content/dam/jofa/info/jofa-default-image.jpg","height":630,"width":1200},"datePublished":"2024-09-03T14:23:11.000-04:00","dateModified":"2024-09-03T14:23:11.000-04:00","keywords":"","author":{"@type":"Person","name":"By Bryan Strickland"},"publisher":{"@type":"NewsMediaOrganization","@id":"https://www.journalofaccountancy.com","name":"Journal of Accountancy","logo":{"@type":"ImageObject","url":"https://www.journalofaccountancy.com/content/dam/jofa/info/jofa-logo-black-600.jpg","width":600,"height":109}},"description":"As mandatory regulations related to reporting on and assurance of sustainability data begin to take hold, now is the time for CPAs in a variety of roles to position themselves to take advantage.","abstract":"As mandatory regulations related to reporting on and assurance of sustainability data begin to take hold, now is the time for CPAs in a variety of roles to position themselves to take advantage."}</script> </head> <body class="articlePage">  <noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-ND9QBJ6" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript> <div class="header iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="header iparsys parsys"><div class="integratedheader section"><div class="cookieBanner"><div class="container hidden"> <div class="row"> <div class="cookie-banner" id=""> <a class="banner-close" href="#" title=""> <span class="icon-exit"></span> <span class="hidden-xs"></span> </a> <p>This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies. Read our <a href="https://www.aicpa-cima.com/help/privacy-policy" target="_blank">privacy policy</a> to learn more.</p> </div> </div> </div> </div> <nav class="navbar" role="navigation"> <div class="container navbar-container"> <div class="hidden-xs hidden-sm collapse navbar-collapse utility-collapse"> <div class="top-logo logo"><a class='navbar-brand' target="_blank" href="https://www.aicpa-cima.com"> <div data-picture data-alt='AICPA-CIMA'> <div data-src='/content/dam/jofa/info/aicpa-cima-new.png' data-media></div> <img src='/content/dam/jofa/info/aicpa-cima-new.png' alt='AICPA-CIMA'> </div> </a> </div> <div class="tagline"></div> <div class="top-navlinks links"><ul class="nav navbar-nav navbar-right" data-event=""> <li><p>AICPA & CIMA:</p></li> <li><a title="" href="https://www.aicpa-cima.com/home"><span>Home</span></a> <li><a title="" href="https://www.aicpa-cima.com/cpe-learning"><span>CPE & Learning</span></a> <li><a title="" href="https://www.aicpa-cima.com/login"><span>My Account</span></a> </ul> </div> </div> <div class="navbar-header"> <button type="button" class="navbar-toggle search-toggle collapsed" data-toggle="collapse" data-target="#search-collapse"> <span class="sr-only">Toggle search</span> <span class="icon-search"></span> </button> <button type="button" class="navbar-toggle navigation-toggle collapsed" data-toggle="collapse" data-target="#navigation-collapse"> <span class="sr-only">Toggle navigation</span> <span class="icon-bar"></span> <span class="icon-bar"></span> <span class="icon-bar"></span> </button> <div class="logo"><a class='navbar-brand' href="/"> <div data-picture data-alt='Journal of Accountancy'> <div data-src='/content/dam/jofa-test/header/logo.png' data-media></div> <img src='/content/dam/jofa-test/header/logo.png' alt='Journal of Accountancy'> </div> </a> </div> </div> <div class="collapse navbar-collapse search-collapse" id="search-collapse"> <div class="searchbar"><form action="/search.html" class="navbar-form navbar-right" role="search" accept-charset="UTF-8"> <input type="hidden" name="_charset_" value="utf-8"> <div class="form-group input-group"> <input type="text" name="q" class="form-control" value="" placeholder=""> <input type="hidden" name="language" value="en"> <div class="input-group-btn"> <button type="submit" class="btn btn-search" tabindex="-1"> <span class="icon-search"></span> </button> </div> </div> </form> </div> </div> <div class="collapse navbar-collapse navigation-collapse" id="navigation-collapse"> <div class="navbar-nav-container"> <ul class="nav navbar-nav"> <li class="dropdown"> <a href="/topics/technology.html" target="" class="dropdown-toggle" data-toggle="dropdown"> Tech & AI</a> <div class="dropdown-menu" role="menu"> <ul> <li> <a href="/topics/technology.html" target=""> All articles</a> </li> <li> <a href="/topics/artificial-intelligence-ai.html" target=""> Artificial Intelligence (AI)</a> </li> <li> <a href="/topics/technology/microsoft-excel-tips.html" target=""> Microsoft Excel</a> </li> <li> <a href="/topics/technology/data-information-security.html" target=""> Information Security & Privacy</a> </li> </ul> <div class="dropdown-feature" id="b2a0730e-c188-452d-803a-5313e5650ff8"> <h4>Latest Stories</h4> <ul class="main-nav-feature-list"> <script type="text/x-template" id="b2a0730e-c188-452d-803a-5313e5650ff8-main-nav-template"> <li><a href="{page.path}.html">{articleTitle}</a></li> </script> </ul> </div> </div> <script> jQuery(document).ready(function () { jQuery('#b2a0730e-c188-452d-803a-5313e5650ff8').mainnav({ componentPath: '/content/jofa-home/jcr:content/header/integratedheader/mainNav1', locale: "en" }); }); </script> </li> <li class="dropdown"> <a href="/topics/tax.html" target="" class="dropdown-toggle" data-toggle="dropdown"> TAX</a> <div class="dropdown-menu" role="menu"> <ul> <li> <a href="/topics/tax.html" target=""> All articles</a> </li> <li> <a href="/topics/tax/corporations.html" target=""> Corporations</a> </li> <li> <a href="/topics/tax/employee-benefits.html" target=""> Employee benefits</a> </li> <li> <a href="/topics/tax/individual-income-taxation.html" target=""> Individuals</a> </li> <li> <a href="/topics/tax/irs-practice-procedure.html" target=""> IRS procedure</a> </li> </ul> <div class="dropdown-feature" id="c3797efe-0bb0-41b7-9b23-0ceb56c1d983"> <h4>Latest Stories</h4> <ul class="main-nav-feature-list"> <script type="text/x-template" id="c3797efe-0bb0-41b7-9b23-0ceb56c1d983-main-nav-template"> <li><a href="{page.path}.html">{articleTitle}</a></li> </script> </ul> </div> </div> <script> jQuery(document).ready(function () { jQuery('#c3797efe-0bb0-41b7-9b23-0ceb56c1d983').mainnav({ componentPath: '/content/jofa-home/jcr:content/header/integratedheader/mainNav2', locale: "en" }); }); </script> </li> <li class="dropdown"> <a href="/topics/practice-management.html" target="" class="dropdown-toggle" data-toggle="dropdown"> PRACTICE MANAGEMENT</a> <div class="dropdown-menu" role="menu"> <ul> <li> <a href="/topics/practice-management.html" target=""> All articles</a> </li> <li> <a href="/topics/practice-management/diversity-equity-inclusion.html" target=""> Diversity, equity & inclusion</a> </li> <li> <a href="/topics/practice-management/human-capital.html" target=""> Human capital</a> </li> <li> <a href="/topics/practice-management/financial-admin-operations.html" target=""> Firm operations</a> </li> <li> <a href="/topics/practice-management/practice-growth-client-service.html" target=""> Practice growth & client service</a> </li> </ul> <div class="dropdown-feature" id="23ef88b0-d9a1-4cc0-bccb-585f3c30222b"> <h4>Latest Stories</h4> <ul class="main-nav-feature-list"> <script type="text/x-template" id="23ef88b0-d9a1-4cc0-bccb-585f3c30222b-main-nav-template"> <li><a href="{page.path}.html">{articleTitle}</a></li> </script> </ul> </div> </div> <script> jQuery(document).ready(function () { jQuery('#23ef88b0-d9a1-4cc0-bccb-585f3c30222b').mainnav({ componentPath: '/content/jofa-home/jcr:content/header/integratedheader/mainNav3', locale: "en" }); }); </script> </li> <li class="dropdown"> <a href="/topics/financial-reporting.html" target="" class="dropdown-toggle" data-toggle="dropdown"> FINANCIAL REPORTING</a> <div class="dropdown-menu" role="menu"> <ul> <li> <a href="/topics/financial-reporting.html" target=""> All articles</a> </li> <li> <a href="/topics/financial-reporting/us-accounting-financial-reporting.html" target=""> FASB reporting</a> </li> <li> <a href="/topics/financial-reporting/ifrs-compliance-reporting.html" target=""> IFRS</a> </li> <li> <a href="/topics/financial-reporting/private-company-financial-reporting.html" target=""> Private company reporting</a> </li> <li> <a href="/topics/financial-reporting/sec-compliance-reporting.html" target=""> SEC compliance and reporting</a> </li> </ul> <div class="dropdown-feature" id="c26f5516-521f-4a8b-8f71-c7bb44211e25"> <h4>Latest Stories</h4> <ul class="main-nav-feature-list"> <script type="text/x-template" id="c26f5516-521f-4a8b-8f71-c7bb44211e25-main-nav-template"> <li><a href="{page.path}.html">{articleTitle}</a></li> </script> </ul> </div> </div> <script> jQuery(document).ready(function () { jQuery('#c26f5516-521f-4a8b-8f71-c7bb44211e25').mainnav({ componentPath: '/content/jofa-home/jcr:content/header/integratedheader/mainNav4', locale: "en" }); }); </script> </li> <li class="dropdown"> <a href="/topics/auditing.html" target="" class="dropdown-toggle" data-toggle="dropdown"> AUDIT</a> <div class="dropdown-menu" role="menu"> <ul> <li> <a href="/topics/auditing.html" target=""> All articles</a> </li> <li> <a href="/topics/auditing/performing-an-attest-engagement.html" target=""> Attestation</a> </li> <li> <a href="/topics/auditing/performing-an-audit.html" target=""> Audit</a> </li> <li> <a href="/topics/auditing/compilation-and-review.html" target=""> Compilation and review</a> </li> <li> <a href="/topics/auditing/peer-review.html" target=""> Peer review</a> </li> <li> <a href="/topics/auditing/quality-management.html" target=""> Quality Management</a> </li> </ul> <div class="dropdown-feature" id="98ce0058-7e0f-4504-b7bd-4b29d1763fd5"> <h4>Latest Stories</h4> <ul class="main-nav-feature-list"> <script type="text/x-template" id="98ce0058-7e0f-4504-b7bd-4b29d1763fd5-main-nav-template"> <li><a href="{page.path}.html">{articleTitle}</a></li> </script> </ul> </div> </div> <script> jQuery(document).ready(function () { jQuery('#98ce0058-7e0f-4504-b7bd-4b29d1763fd5').mainnav({ componentPath: '/content/jofa-home/jcr:content/header/integratedheader/mainNav5', locale: "en" }); }); </script> </li> <li class="dropdown"> <a href="/topics/management-accounting.html" target="" class="dropdown-toggle" data-toggle="dropdown"> MANAGEMENT ACCOUNTING</a> <div class="dropdown-menu" role="menu"> <ul> <li> <a href="/topics/management-accounting.html" target=""> All articles</a> </li> <li> <a href="/topics/management-accounting/planning-budgeting-forecasting.html" target=""> Business planning</a> </li> <li> <a href="/topics/management-accounting/hr-talent-management.html" target=""> Human resources</a> </li> <li> <a href="/topics/management-accounting/risk-management-internal-control.html" target=""> Risk management</a> </li> <li> <a href="/topics/management-accounting/strategy-governance.html" target=""> Strategy</a> </li> </ul> <div class="dropdown-feature" id="da7edbdd-dca9-47a8-898f-a9821bf678ec"> <h4>Latest Stories</h4> <ul class="main-nav-feature-list"> <script type="text/x-template" id="da7edbdd-dca9-47a8-898f-a9821bf678ec-main-nav-template"> <li><a href="{page.path}.html">{articleTitle}</a></li> </script> </ul> </div> </div> <script> jQuery(document).ready(function () { jQuery('#da7edbdd-dca9-47a8-898f-a9821bf678ec').mainnav({ componentPath: '/content/jofa-home/jcr:content/header/integratedheader/mainNav6', locale: "en" }); }); </script> </li> </ul> </div> <ul class="nav navbar-nav navbar-right" data-event=""> <li><a title="" href="/news.html"><span>News</span></a> <li><a title="" href="/issues/2024/dec.html"><span>Magazine</span></a> <li><a title="" href="/podcast.html"><span>Podcast</span></a> <li><a title="" href="/videos.html"><span>Video</span></a> </ul> </div> </div> </nav> <script> jQuery(document).ready(function(){ methods.androidSearchbarCollapseHandler(); }); </script> </div> </div> </div> </div> <main role="main" class="container"> <div class="row"> <div class="col-sm-12"> <div class="hero-section parsys"> </div> </div> </div> <div class="row"> <div class="col-sm-12"> <div class="advertisement-section iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="advertisement-section iparsys parsys"><div class="doubleclickAds section"><div class="advertisement"> <div id="jofa-adslot-0"> <script type="text/javascript"> googletag.cmd.push(function () { googletag.display('jofa-adslot-0'); }); </script> </div> </div> <br> </div> <div class="breakingnews section"><div id="c06cd49f-ec87-4b32-8b00-d1b232812e63" data-event="" class="breaking-news" style="display:none" > <div class="well clearfix"> <span class="section-header"> Breaking News</span> <div class="breaking-news-template-section"></div> </div> </div> <script type="text/x-template" id="breaking-news-template"> <div data-picture class='hidden-xs pull-left' data-alt='{featureImage.alt}'> {@ne key="{featureImage.renditions.default}" value=""} <div data-src='{featureImage.renditions.default}' data-media></div> <img src='{featureImage.renditions.default}' alt='{featureImage.alt}'> {/ne} {#featureImage.renditions.breakpoints} <div data-src="{path}" data-media="{media}"></div> {/featureImage.renditions.breakpoints} </div> <article> {@if cond="{isRecent}"} <div class="date-time recent-time"> {timeSince} </div> {:else} <div class="date-time"> {timeSince} </div> {/if} <h2> <a href="{page.path}.html"> {articleTitle} </a> </h2> <p> {articleAbstract} </p> </article> </script> <script> jQuery(document).ready(function () { jQuery('#c06cd49f-ec87-4b32-8b00-d1b232812e63').breakingnews({componentPath: '/content/jofa-home/jcr:content/advertisement-section/breakingnews', locale: "en", currentPath: "/news/2024/sep/sustainable-services-cpas-positioned-burst-opportunities"}); }); </script> </div> </div> </div> </div> </div> </div> <div class="row clearfix content content-two-col"> <div id="mainbar-top" class="col-sm-8 mainbar mainbar-top"> <ol class="breadcrumb"> <div class="articlebreadcrumb psuedobreadcrumb"><li><span class='psuedobreadcrumb-style-blue'>News</span></li><li class='active'>ACCOUNTING & REPORTING</li></div> </ol> <div class="contentSectionArticlePage parsys"><div class="article section"><h1>Sustainable services: CPAs positioned for burst in opportunities</h1> <strong>By Bryan Strickland</strong> <br/> <div class="date-time" data-time="2024-09-03T14:23:11.000-04:00"></div> <br /> <div class="sharethis"><div class="social-share"> <div class="addthis_inline_share_toolbox"></div></div></div> <div class="row"> <div class="col-xs-5 article-sidebar"> <div class="articleSidebarParsys parsys"><div class="relatedarticles section"><div class="related-topics" data-event=""> <span>Related</span> <div id="c19ea066-6123-4d0f-81a6-b3c400cdb112"></div> </div> <script type="text/x-template" id="related-articles-template"> {#.} <article> {@if cond="{isRecent}"} <div class="date-time recent-time"> {timeSince}</div> {:else} <div class="date-time"> {timeSince}</div> {/if} {@if cond="{isCGMA}"} <h2> <a href="{page.path}.html" track-event="you may also like click" track-youMayAlsoLikeLink="{articleTitle}">{articleTitle}</a> </h2> {:else} <h2> <a href="{page.path}.html">{articleTitle}</a> </h2> {/if} </article> {/.} </script> <script> $(document).ready(function () { $('#c19ea066-6123-4d0f-81a6-b3c400cdb112').relatedarticles({ componentPath: "/content/jofa-home/news/2024/sep/sustainable-services-cpas-positioned-burst-opportunities/jcr:content/contentSectionArticlePage/article/articleSidebarParsys/relatedarticles", isCGMA: "false" }); }); </script> </div> <div class="articletopics section"><div class="related-topics" data-event=""> <span>TOPICS</span> <ul class="no-bullets"> <li><a href='/topics/topic-results.jofa.accounting-and-financial-reporting.html'>Accounting & Reporting</a></li><li><a href='/topics/topic-results.jofa.management-accounting.html'>Management Accounting</a></li><ul> <li><a href='/topics/topic-results.jofa.management-accounting.sustainability.html'>Sustainability</a></li></ul> </ul> </div> </div> </div> </div> <div class="article-content"> <div class="articleparsys parsys"><div class="htmlContainer section"><div id="11994ff3-0971-4d21-aa91-111f1b894338" class="htmlContainer section default"> <p>At first glance, it might appear that the growing number of regulations related to sustainability will affect only the largest CPA firms.</p> <p>In reality, many in the accounting profession would be wise to proactively take a second look – with an eye toward opportunity.</p> <p>"The market forces that are driving these compliance requests are accelerating," Good.Lab co-founder and CEO Andries Verschelden said. "It's all moving in a single direction – upwards."</p> <p>Verschelden recently participated in the ESG Symposium Virtual Update, hosted by AICPA & CIMA and AICPA subsidiary CPA.com, providing a detailed overview of the current sustainability reporting and auditing landscape. Verschelden was a partner at top-25 firm Armanino prior to founding Good.Lab, a software company that recently partnered with CPA.com to launch the <a href="https://www.cpa.com/news/cpacom-and-goodlab-announce-program-accelerate-accounting-firms-growth-esg-advisory-services" target="_blank">ESG Practice Development Program</a>.</p> <p>At this moment, the <a href="https://www.journalofaccountancy.com/news/2024/mar/4-things-cpas-need-to-know-about-sec-climate-rule.html">SEC's climate reporting rule</a> is in legal limbo. And, on the surface, pending regulations in California and in the EU seem to focus on a set of larger companies and, relatively speaking, won't have a widespread effect on smaller CPAs whose clients aren't directly affected by the regulations.</p> <p>But the turning of the calendar to 2025 will begin in earnest the shift from voluntary to mandatory reporting and attestation of sustainability data, and rapidly developing trends in the space signal that CPAs in a variety of roles soon will see a stream of new opportunities.</p> <p>"In order to perform these services, you really need to be upskilled and competent in this area," Ami Beers, CPA, CGMA, senior director–Assurance & Advisory Innovation for AICPA & CIMA, said during the symposium.</p> <h2><b><span class="primary-section-sub-heading-style">Survey attests to massive increase in auditing opportunities</span></b></h2> <p>In a voluntary reporting environment in 2022, when 99% of the largest 100 U.S. companies were reporting some sustainability information, just <a href="https://www.journalofaccountancy.com/news/2024/feb/sustainability-reporting-assurance-rates-on-the-rise-globally.html">23% that obtained assurance turned to an audit firm</a>.</p> <p>Fast forward to 2025, and the dawn of mandatory regulations is set to shatter the previous state of play. Among 300 U.S.-based executives at public companies with at least $500 million in annual revenue surveyed by Deloitte for its <a href="https://www2.deloitte.com/content/dam/Deloitte/us/Documents/audit/2024-sustainability-action-report.pdf" target="_blank"><i>2024 Sustainability Action Report</i></a>, 92% plan to obtain assurance of their companies' sustainability disclosures for the next reporting cycle.</p> <p>Among those, 89% said they plan to turn to a CPA firm for assurance.</p> <p>"The profession has to seize this opportunity to be the key provider, do it well, and win the marketplace with clients or prospective clients," AICPA & CIMA CEO Barry Melancon, CPA, CGMA, told sustainability-focused leaders during the <a href="https://www.cpa.com/blog/2024/08/26/navigating-future-esg-reporting-significant-opportunity-accounting-profession" target="_blank">ESG Symposium Virtual Update</a>.</p> <h2><b><span class="primary-section-sub-heading-style">Chain reaction: Helping clients with requests along the supply chain</span></b></h2> <p>In the Deloitte survey, executives cited the pursuit of accurate and complete data as their single-biggest challenge related to sustainability reporting – an increasingly crucial challenge as reporting requirements related to Scope 3 greenhouse emissions begin to shift from voluntary to mandatory.</p> <p>When <a href="https://www.journalofaccountancy.com/news/2024/jan/scope-3-reporting-where-things-stand-with-standard-setters.html">Scope 3 disclosures</a> – the reporting of emissions from a company's supply chain – soon become required for larger companies that do business in California and the EU, pressure to obtain emissions reports from those companies' supply chains will dramatically increase.</p> <p>That will lead to opportunities for CPAs who advise smaller-company clients.</p> <p>"When these large enterprise companies are subject to rules that say you have to measure and report on the emissions in your supply chain, that trickles down into requirements for middle-market organizations," Verschelden said during "<a href="https://www.aicpa-cima.com/cpe-learning/webcast/navigating-supplier-sustainability-information-requests" target="_blank">Navigating Supplier Sustainability Information Requests</a>," a webcast produced by Good.Lab and AICPA & CIMA that debuted Aug. 30. "We think in the next few years, there is going to be an even faster acceleration in requests to share in particular greenhouse gas data and also an increased pressure on the quality of data that is being shared."</p> <p>Retail giants Amazon and Walmart and technology giants Apple and Microsoft are among the companies beginning to <a href="https://www.cnbc.com/2023/10/14/a-climate-change-stress-test-is-coming-to-amazon-sellers-and-suppliers.html" target="_blank">require their suppliers to report data</a> if they want to continue to operate as suppliers. Often, those requests extend beyond reporting on the "E" in ESG (environmental, social, and governance).</p> <p>The webcast, set for rebroadcast Sept. 24 (during Climate Week NYC) as well as Oct. 23 and Nov. 21, introduces accounting and finance professionals to ways they can help clients respond to sustainability information requests and how they can work with clients to improve their sustainability profile in the eyes of potential business partners.</p> <h2><b><span class="primary-section-sub-heading-style">Helping companies profit from sustainable initiatives</span></b></h2> <p>For CPAs looking for opportunities to establish themselves as trusted advisers for their employers or for companies they advise, an ambitious effort by KPMG to identify sustainability-related initiatives that improve a company's bottom line is worth a read.</p> <p>The authors of the report, <a href="https://kpmg.com/kpmg-us/content/dam/kpmg/pdf/2024/sustainability-good-financial-performance-final.pdf" target="_blank"><i>Is sustainability good for financial performance?</i></a>, readily admit some limitations they currently face in pursuit of wholly reliable metrics, but the report's meticulous approach should improve the reliability of subsequent reports as sustainability reporting matures.</p> <p>In this first iteration, KPMG research unearthed several initiatives that appear to improve gross profit margins, including:</p> <ul> <li>Lowering carbon dioxide emissions and implementing land environmental impact reduction and e-waste reduction initiatives.</li> <li>Developing staff transportation impact reduction initiatives and providing daycare services for employees.</li> <li>Limiting executive team turnover and prioritizing gender diversity within the team.</li> <li>Including business ethics policies in codes of conduct.</li> </ul> <p>The study features an econometric analysis of more than 2,500 companies across 18 industries in 60-plus countries.</p> <p><i>— To comment on this article or to suggest an idea for another article, contact Bryan Strickland at </i><a href="mailto:Bryan.Strickland@aicpa-cima.com"><i>Bryan.Strickland@aicpa-cima.com</i></a><i>.</i></p> <script> jQuery(document).ready(function () { jQuery('#11994ff3-0971-4d21-aa91-111f1b894338').htmlcontainer(); }); </script> </div> </div> </div> </div> </div> <script> //If there is no content in the article sidebar, hide the parsys to maintain the article styles jQuery(document).ready(function() { jQuery('.parsys.articleSidebarParsys').hideElementParentIfNoContents(); }); </script> <div class="hidden inpage-ad-ids" data-id="jofa-adslot-5"></div> <div class="hidden inpage-ad-ids" data-id="jofa-adslot-6"></div> <div class="hidden inpage-ad-ids" data-id="jofa-adslot-7"></div> <div class="hidden inpage-ad-ids" data-id="jofa-adslot-8"></div> <div class="hidden inpage-ad-ids" data-id="jofa-adslot-9"></div> <div class="hidden inpage-ad-ids" data-id="jofa-adslot-10"></div> <div class="hidden inpage-ad-ids" data-id="jofa-adslot-11"></div> <div class="hidden inpage-ad-ids" data-id="jofa-adslot-12"></div> <script type='text/javascript'> jQuery(document).ready(function() { jQuery().renderInPageAds(7, 4); }); </script> </div> </div> </div> <div id="sidebar-top" class="col-sm-4 pull-sm-right sidebar sidebar-top"> <div class="row clearfix"> <div class="sidebar-top iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="sidebar-top iparsys parsys"><div class="doubleclickAds section"><div class="advertisement"> <div id="jofa-adslot-2"> <script type="text/javascript"> googletag.cmd.push(function () { googletag.display('jofa-adslot-2'); }); </script> </div> </div> <br> </div> <div class="latestnews section"><div id="9badd72e-08ab-49d6-a6d5-a86572c0f193" class="col-sm-8 col-md-12 latest-news no-column" data-event="newspodcast"> <div class="section-header">Podcast</div> </div> <script type="text/x-template" id="latest-news-template-9badd72e-08ab-49d6-a6d5-a86572c0f193"> <article> {@if cond="{isRecent}"} <div class="date-time recent-time"> {timeSince} </div> {:else} <div class="date-time"> {timeSince} </div> {/if} <h2> <a target="" href="{page.path}.html">{articleTitle}</a> </h2> </article> </script> <script> $(document).ready(function () { $('#9badd72e-08ab-49d6-a6d5-a86572c0f193').latestnews({componentPath: "/content/jofa-home/news/jcr:content/sidebar-top/latestnews", columnCheck: false, viewUrl: "/", viewLabel: "View More", locale: "en", displayAbstract: false, displayViewMore: false, templateId: "#latest-news-template-9badd72e-08ab-49d6-a6d5-a86572c0f193" }); }); </script> </div> <div class="doubleclickAds section"><div class="advertisement"> <div id="jofa-adslot-3"> <script type="text/javascript"> googletag.cmd.push(function () { googletag.display('jofa-adslot-3'); }); </script> </div> </div> <br> </div> </div> </div> </div> </div> </div> <div class="hidden-xs col-sm-12 col-md-8 feature-ribbon"> <div> <div class="feature-carousel iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="feature-carousel iparsys parsys"><div class="featurecarousel section"><div id="feature-ribbon" class="feature-ribbon" data-event="featurescarousel"> <div class="featureTitle">Features</div> <div class="swiper"> <a class="icon-prev" href="#"></a> <a class="icon-next" href="#"></a> <div class="swiper-container"> <div class="swiper-wrapper"></div> </div> </div> <hr> </div> <div id="b3976aad-94cc-45af-a434-644ccd000872"></div> <script type="text/x-template" id="feature-carousel-template"> <div class="swiper-slide"> <figure> <a href="{page.path}.html"> <div data-picture data-alt='{featureImage.alt}'> {@ne key="{featureImage.renditions.default}" value=""} <div data-src='{featureImage.renditions.default}' data-media></div> <img src='{featureImage.renditions.default}' alt='{featureImage.alt}'> {/ne} {#featureImage.renditions.breakpoints} <div data-src="{path}" data-media="{media}"></div> {/featureImage.renditions.breakpoints} </div> </a> <figcaption> <a href="{page.path}.html">{articleTitle}</a> </figcaption> </figure> </div> </script> <script> jQuery(document).ready(function () { jQuery('#b3976aad-94cc-45af-a434-644ccd000872').closest('.featurecarousel').featurecarousel({componentPath: '/content/jofa-home/jcr:content/feature-carousel/featurecarousel'}); }); </script> </div> </div> </div> </div> </div> </div> <div class="clearfix visible-md-block visible-lg-block"></div> <div id="sidebar-bottom" class="col-sm-4 pull-sm-right sidebar sidebar-bottom"> <div class="row"> <div> <div class="sidebar-bottom iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="sidebar-bottom iparsys parsys"><div class="doubleclickAds section"><div class="advertisement"> <div id="jofa-adslot-4"> <script type="text/javascript"> googletag.cmd.push(function () { googletag.display('jofa-adslot-4'); }); </script> </div> </div> <br> </div> </div> </div> </div> </div> </div> </div> <div id="mainbar-bottom" class="col-sm-8 mainbar mainbar-bottom"> <div class="row"> <div class="col-md-6 special-report"> <div> <div class="specialreport iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="specialreport iparsys parsys"><div class="htmlContainer section"><div id="4c8ffb8f-1aef-484a-bb30-2084e8b0a91e" class="htmlContainer section "> <p><span class="primary-section-heading-style"><b>SPONSORED REPORT</b></span></p> <h2><a href="https://www.journalofaccountancy.com/info/joa-2024-tax-season.html"><img class="pull-left" src="https://www.journalofaccountancy.com/content/dam/jofa/issues/2024/oct/getting-clients-ready-for-tax-season-128x128.jpg"></a><span class="primary-section-sub-heading-style"><a href="https://www.journalofaccountancy.com/info/joa-2024-tax-season.html">Be prepared for tax season early</a></span></h2> <p>Our expert tax report highlights the important issues that tax preparers and their clients need to address for the 2024 tax year. Stay informed and proactive with guidance on critical tax considerations before year-end.</p> <script> jQuery(document).ready(function () { jQuery('#4c8ffb8f-1aef-484a-bb30-2084e8b0a91e').htmlcontainer(); }); </script> </div> </div> </div> </div> </div> </div> </div> <div class="hidden-xs col-md-6 sister-publications"> <div> <div class="sisterPublications iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="sisterPublications iparsys parsys"><div class="latestnews section"><div id="bc85b120-dad1-4a7b-b5ee-ae8011d2acd0" class="col-sm-8 col-md-12 latest-news no-column" data-event="ttafeed"> <div class="section-header">From <i>The Tax Adviser</i></div> </div> <script type="text/x-template" id="latest-news-template-bc85b120-dad1-4a7b-b5ee-ae8011d2acd0"> <article> {@if cond="{isRecent}"} <div class="date-time recent-time"> {timeSince} </div> {:else} <div class="date-time"> {timeSince} </div> {/if} <h2> <a target="_blank" href="{externalizedPath}.html">{articleTitle}</a> </h2> </article> </script> <script> $(document).ready(function () { $('#bc85b120-dad1-4a7b-b5ee-ae8011d2acd0').latestnews({componentPath: "/content/jofa-home/jcr:content/sisterPublications/latestnews", columnCheck: false, viewUrl: "https://www.thetaxadviser.com/", viewLabel: "View More", locale: "en", displayAbstract: false, displayViewMore: false, templateId: "#latest-news-template-bc85b120-dad1-4a7b-b5ee-ae8011d2acd0" }); }); </script> </div> </div> </div> </div> </div> </div> </div> </div> <div class="hidden-xs col-sm-12 col-md-8 magazine-ribbon"> <div> <div class="magazine-carousel iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="magazine-carousel iparsys parsys"><div class="magazinecarousel section"><div id="magazine-ribbon" class="magazine-ribbon" data-event="printcarousel"> <div class="magazineTitle">Magazine</div> <div class="swiper"> <a class="icon-prev" href="#"></a> <a class="icon-next" href="#"></a> <div class="swiper-container"> <div class="swiper-wrapper"></div> </div> </div> <hr> </div> <div id="0852b15d-0ae3-402f-b2d7-0b9014671e72"></div> <script type="text/x-template" id="magazine-carousel-template"> <div class="swiper-slide"> <a href="{page.path}.html">{issueName}<br> <div data-picture data-alt='{issueCover.alt}'> {@ne key="{issueCover.renditions.default}" value=""} <div data-src='{issueCover.renditions.default}' data-media></div> <img src='{issueCover.renditions.default}' alt='{issueCover.alt}'> {/ne} {#issueCover.renditions.breakpoints} <div data-src="{path}" data-media="{media}"></div> {/issueCover.renditions.breakpoints} </div> </a> </div> </script> <script> jQuery(document).ready(function () { jQuery('#0852b15d-0ae3-402f-b2d7-0b9014671e72').closest('.magazinecarousel').magazinecarousel( { componentPath: '/content/jofa-home/jcr:content/magazine-carousel/magazinecarousel', viewAllPath: '/issues', defaultImage: '/content/dam/jofa-test/general/JofA_Default_Mag_cover_small_official_blue.png' } ); }); </script> </div> </div> </div> </div> </div> </div> </div> </main> <footer class="container"> <div class="row social-media-connect"> <div class="hidden-xs col-sm-4 col-md-5"> <div class="promo-section-one iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="promo-section-one iparsys parsys"></div> </div> </div> </div> <div class="hidden-xs col-sm-4"> <div class="promo-section-two iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="promo-section-two iparsys parsys"><div class="htmlContainer section"><div id="294ebed2-cb09-4639-b4db-c835193474cb" class="htmlContainer section "> <p><span class="secondary-section-heading-style"><b>NEWS APP</b></span></p> <h2><a href="/info/add-journal-of-accountancy-to-apple-news.html"><img src="/content/dam/jofa/info/apple-news-icon.png" class="pull-left"><span class="secondary-section-sub-heading-style"></span></a><a href="/info/add-journal-of-accountancy-to-apple-news.html"><span class="secondary-section-sub-heading-style">How to add the <i>JofA</i> to your Apple News app</span></a></h2> <p>This quick guide walks you through the process of adding the <i>Journal of Accountancy</i> as a favorite news source in the News app from Apple.</p> <script> jQuery(document).ready(function () { jQuery('#294ebed2-cb09-4639-b4db-c835193474cb').htmlcontainer(); }); </script> </div> </div> </div> </div> </div> </div> <div class="col-sm-4 col-md-3"> <div class="promo-section-three iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="promo-section-three iparsys parsys"><div class="socialconnect section"><h3>CONNECT</h3> <ul class="no-bullets social-list img-list"> <li><a href="http://www.twitter.com/AICPA_JofA" target="_blank"><img src="/content/dam/jofa-test/social/twitter.png"/>Twitter</a></li> <li><a href="http://www.facebook.com/JournalofAccountancy" target="_blank"><img src="/content/dam/jofa-test/social/facebook.png"/>Facebook</a></li> <li><a href="http://www.linkedin.com/groups?mostPopular=&gid=160517" target="_blank"><img src="/content/dam/jofa-test/social/linkedin.png"/>LinkedIn</a></li> </ul> </div> </div> </div> </div> </div> </div> <div class="row footer-navigation footer-navigation-container"> <div class="col-sm-3"> <div class="footer-links-section-one iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="footer-links-section-one iparsys parsys"><div class="links section"><div class="verticallink-title">HOME</div> <ul class="no-bullets" data-event=""> <li><a href="/news.html"><span>News</span></a> <li><a href="/issues/2024/dec.html"><span>Magazine</span></a> <li><a href="/issues.html"><span>Issue library</span></a> <li><a href="/videos.html"><span>Video</span></a> <li><a href="/podcast.html"><span>Podcast</span></a> <li><a href="/newsletters/academic-update.html"><span>Academic Update</span></a> <li><a href="/topics.html"><span>Topics</span></a> <li><a href="/sitemap.html"><span>Site map</span></a> </ul> </div> </div> </div> </div> </div> <div class="col-sm-3"> <div class="footer-links-section-two iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="footer-links-section-two iparsys parsys"><div class="links section"><div class="verticallink-title">SUBSCRIBE</div> <ul class="no-bullets" data-event=""> <li><a href="/podcast.html"><span>Podcast</span></a> <li><a href="https://aicpa.qualtrics.com/jfe/form/SV_a3pWGGGXnmTbzBs"><span>Academic Update</span></a> </ul> </div> </div> </div> </div> </div> <div class="col-sm-3"> <div class="footer-links-section-three iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="footer-links-section-three iparsys parsys"><div class="links section"><div class="verticallink-title">ABOUT</div> <ul class="no-bullets" data-event=""> <li><a href="/info/contact.html"><span>Contact us</span></a> <li><a href="/info/advertise.html"><span>Advertise</span></a> <li><a href="/info/premium-advertiser-directory.html"><span>Vendor directory</span></a> <li><a href="/info/author-guidelines.html"><span>Submit an article</span></a> <li><a href="/info/editorial-calendar.html"><span>Editorial calendar</span></a> <li><a href="/info/reprints-copyrights.html"><span>Reprints & copyrights</span></a> <li><a href="https://www.aicpa-cima.com/help/privacy-policy"><span>Privacy policy</span></a> <li><a href="https://www.aicpa-cima.com/help/terms-and-conditions"><span>Terms & conditions</span></a> </ul> </div> </div> </div> </div> </div> <div class="col-sm-3"> <div class="footer-links-section-four iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="footer-links-section-four iparsys parsys"><div class="links section"><div class="verticallink-title">AICPA & CIMA SITES</div> <ul class="no-bullets" data-event=""> <li><a href="https://www.aicpa-cima.com/home"><span>AICPA-CIMA.com</span></a> <li><a href="https://www.aicpa-cima.com/help"><span>Global Engagement Center</span></a> <li><a href="https://www.fm-magazine.com/"><span><i>Financial Management</i> magazine</span></a> <li><a href="https://www.thetaxadviser.com"><span><i>The Tax Adviser</i></span></a> <li><a href="https://www.aicpa-cima.com/blog"><span>AICPA Insights</span></a> <li><a href="https://mycareer.aicpa-cima.com/jobs/"><span>Global Career Hub</span></a> </ul> </div> </div> </div> </div> </div> </div> <div class="row copyright"> <div class="col-sm-6"> <div class="copyright-section iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="copyright-section iparsys parsys"><div class="image parbase section"><div class="" data-event=""><a target="_blank" href="https://www.aicpa-cima.com"><img src="/content/jofa-home/_jcr_content/copyright-section/image.img.png/1682342069759.png" alt="AICPA & CIMA" title="AICPA & CIMA" class="cq-dd-image"></a></div> </div> <div class="copyright section"><div class="copyright component"> <div> <p><img src="/content/dam/jofa/info/clear-sq.png" alt="clear-sq" title="clear-sq" class="cq-dd-image"> © <span class="copyrightyear"></span> Association of International Certified Professional Accountants. All rights reserved.</p> </div> </div> <script type="text/javascript"> jQuery(document).ready(function () { jQuery('#91595d81-0534-4ba3-9e37-0f4d0fec424f').copyright({componentPath: '/content/jofa-home/jcr:content/copyright-section/copyright'}); }); </script></div> </div> </div> </div> </div> <div class="col-sm-6"> <div class="footer-message-section iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="footer-message-section iparsys parsys"><div class="text parbase section"> <p style="text-align: right;"> <b>Reliable. Resourceful. Respected.</b></p> </div> </div> </div> </div> </div> </div> </footer> <script src="/etc/clientlibs/aicpa/assets.min.js"></script> <script src="/etc/clientlibs/aicpa/assets/cookie-banner.min.js"></script> <script src="/etc/clientlibs/aicpa/assets/components-footer.min.js"></script> <div class="ie-modal-parsys iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="ie-modal-parsys iparsys parsys"></div> </div> </div> </body> </html>

CINXE.COM

Sustainable services: CPAs positioned for burst in opportunities