Conventional Sustainability Accounting Standards – Essence and Perspectives

Abstract

The implementation of the concept of sustainability accounting assumes the adoption of a conventional reporting framework to set guidelines for presenting and disclosing useful information for satisfying the information needs of stakeholders’ groups. The standards developed by the Sustainability Accounting Standards Board could be an adequate reporting framework for satisfying investors’ information needs. The challenges for accounting science and practice are related to presenting and disclosing qualitative information by conventional reporting framework, which should satisfy the information needs of stakeholders’ groups in accordance with companies’ sustainability policy.