The impact of climate change and climate risk on the Accounting and Accounting professions

Kosarkoska, Desa and Joldeska, Irina (2024) The impact of climate change and climate risk on the Accounting and Accounting professions. In: XVII International Scientific Conference on Service sector INSCOSES 2024, Ohrid 26-27 September 2024, 26-27 September 2024, Faculty of Tourism and Hospitality, Ohrid. (Submitted)

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Abstract

If we are to identify the most defining global issue of our time, we would undoubtedly conclude that it is climate change and the associated risks for modern society and life across all sectors. Decision-makers must choose between two options: confronting the issue and addressing it with appropriate business models and policies, or persisting with outdated business practices. The accounting profession, as the language of business, must engage with these developments.
Integrating climate and other environmental and social values into traditional reporting is a critical challenge for the accounting profession today. Identifying and providing models for analyzing the interdependence of these risks represents another significant challenge for accountants. Over the past two decades, the disclosure of information regarding corporate activities relevant to climate change has increased substantially. Accountants can play a vital role in this risk analysis, supplying data to inform new policies and strategies, and implementing plans that facilitate informed decision-making. Almost every industry faces threats from the effects of climate change, either directly or indirectly. For companies contemplating how the changing climate may impact their operations, ensuring that reporting is accurate, consistent, transparent, and fully considers environmental risks is paramount. They must monitor, measure, and control costs, as well as manage information systems to ensure outputs are accurate and reliable—issues that the accounting profession must confront.
In this study, we investigate how modern accounting and the accounting profession, on a global scale, have adapted and responded to these new challenges. Numerous new branches of accounting are emerging in response to this evolving landscape. Indeed ,it only one branch developed as respond to all challenges,. The right Theremin for defining this new branch of Accounting is the detected problem indeed. TO ANSWER ON THIS IMPORTANT QUESTION, which is THE RIHGHT TERMIN FOR DEFINING THIS BRANCH, WE MADE AN desk Research. The results will be presented in this paper later.
Qualitative research method will be used to explain the topic.Conducting in-depth interviews with experts in the field will be the research technical.

KEYWORDS: Accounting for Sustainable Development (ASD), Climate change, Impact

Item Type:	Conference or Workshop Item (Paper)
Subjects:	Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions:	Faculty of Tourism and Hospitality
Depositing User:	Prof. d-r Desa Kosarkoska
Date Deposited:	03 Oct 2024 10:05
Last Modified:	03 Oct 2024 10:05
URI:	https://eprints.uklo.edu.mk/id/eprint/10283

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