The Association of Chartered Certified Accountants (ACCA) and EY have published a study on sustainability reporting capabilities in Hong Kong and China, based on a survey of 90 key stakeholders
A third of the respondents note a persistent knowledge gap, while 27% highlight immaturities in the reporting ecosystem and 31% cite challenges around understanding the needs of different stakeholders.
“Translating high-level standards into actionable data systems, material disclosures, and credible reporting continues to be a significant barrier, particularly for organisations without deep internal expertise,” the report reads.
ACCA and EY offer 10 recommendations for accountants to help build sustainability disclosure capabilities:
- Move beyond compliance
- Prioritise globally relevant standards
- Leverage regulatory reporting ecosystems
- Know your business end-to-end
- Bake sustainability into stakeholder management
- Build agile systems
- Collaborate boldly across industries and regions
- Champion sustainability
- Build a flexible resourcing model
- Be proactive