Role and Challenges of Accountants in Environmental Reporting: An Analysis of Large Maltese Entities
Journal Title: Journal of Green Economy and Low-Carbon Development - Year 2024, Vol 3, Issue 3
Abstract
This study investigates accountants' role and challenges in large Maltese entities' environmental reporting (ER) processes (LMEs). A qualitative approach was employed, primarily based on semi-structured interviews with 29 participants, including Chief Financial Officers (CFOs), Chief Sustainability Officers (CSOs), and sustainability-related service providers. The findings indicate that accountants predominantly support ER, rather than being directly responsible for its preparation. Their involvement is influenced by factors such as their reputation for trustworthiness, the demand for environmental information within the organisation, and the availability of human resources. Despite their recognised expertise in financial reporting, accountants' contribution to ER is often limited to the financial dimension due to their relatively narrow understanding of sustainability issues. Consequently, an execution gap has emerged between accountants' potential and actual involvement in ER, with many organisations still in the early stages of ER development, focusing on compliance rather than comprehensive environmental performance. The study also highlights that, although current involvement is restricted, the growing regulatory emphasis on sustainability reporting (SR) will likely expand the role of accountants in the future. The research underscores the need for accountants to broaden their skill sets to accommodate the evolving demands of environmental and SR. This study contributes to the existing literature by offering insights specific to the context of Maltese entities. It provides a foundation for future research on the evolving role of accountants in SR.
Authors and Affiliations
Reuben Psaila, Peter J. Baldacchino, Lauren Ellul, Norbert Tabone, Simon Grima
Keywords
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- EP ID EP753559
- DOI https://doi.org/10.56578/jgelcd030303
- Views 22
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