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State Board Report

November 2012

The significance of sustainability reporting that goes beyond standard financial reporting was described by speakers at the NASBA International Forum October 31 – November 1. Boise Vice President Samuel Cotterell discussed the importance of telling his paper company’s investors and staff about the environmentallyconscious activities regularly undertaken by Boise. Then Mike Wallace, Director of Global Reporting Initiatives, described the efforts being made to standardize sustainability reporting around the world. Finally, Laurie Tish, Chair of the NASBA Global Strategies Committee, described the work her firm, Moss Adams, LLP, does in this area.

“Why do we, as regulators, care about sustainability reporting?” Ms. Tish, NASBA Director-at-Large, asked the Forum’s attendees. “Because CPAs are in this space. They are issuing attest reports. They are auditing every step of the way. It is an area posed for fast growth. This will be a significant practice area for the large firms.”

Ms. Tish pointed out there are no agreed upon criteria nor standards for sustainability reporting. “We often see a lack of robust control systems. Misrepresentations and inaccuracies are common.”

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