Accounting, traditionally seen as a tool for optimizing economic performance, is now increasingly recognized as essential for supporting sustainability initiatives. Accountants play a key role in advancing sustainable development through their expertise in governance, risk management, business analysis, and their ability to effectively track and report on companies’ performance, as well as verify their reporting.
The recently introduced Corporate Sustainability Reporting Directive (CSRD) expands reporting requirements to a broader range of companies and mandates assurance of these reports to enhance the quality and reliability of the information provided. How do accountants perceive these changes, and what factors influence their opinions on the new sustainability reporting regulations?
In our article, “Exploring Multi-Level Drivers of Accountants’ Opinions on the Changes Introduced by the Corporate Sustainability Reporting Directive,” published in Accounting in Europe, my co-authors, Ewelina Zarzycka, Paweł Zieniuk, and I explore the following research questions (RQs):
RQ1: What drives accountants’ opinions on the increased scope of sustainability reporting regulation?
RQ2: What drives accountants’ opinions on mandatory sustainability reporting assurance?
By conducting a survey of 1,076 Poland-based accountants in 2021 and employing logit regression analysis, we found that drivers at the transnational level (international regulations and standards), organizational level (benefits tied to sustainability reporting), and individual level (knowledge of reporting regulations) positively influence accountants’ support for the new CSRD measures. Conversely, drivers at the national level, such as membership in a professional accountants’ association, were found to be irrelevant.
This study contributes to the literature by applying the Aguilera et al. (2007) multilevel model of social change to explain accountants’ attitudes towards regulatory changes. The findings provide valuable insights for regulators, standard setters, and educators who seek to understand and influence the evolving roles and opinions of accountants in sustainability reporting. For effective implementation of the CSRD, a collaborative approach involving national accounting bodies and regulators is recommended to promote knowledge sharing and skill development among accountants.
Additionally, countries with later adoption of sustainability reporting may need to invest more in developing accountants’ knowledge and skills to align with those in countries where sustainability practices are more established. Tailored professional development and education are essential to fostering a more supportive attitude towards the CSRD’s requirements and facilitating the profession’s transformation towards sustainable development.
We hope you will find our study interesting!
