Diversity, ESG on List for US Accounting Body’s Consideration

US accounting standard-setters should pay attention to whether they need to play a role in the much-watched environmental, social, and governance reporting space, the parent organization of the Financial Accounting Standards Board and the Governmental Accounting Standards Board said in a draft of its future strategic priorities.

While financial accounting will be the main focus of the two boards, “we recognize there is growing demand by investors and other users of financial reports for greater consistency and comparability in reporting related to sustainability,” the Financial Accounting Foundation said in a draft plan released Tuesday. The strategic plan, which outlines the ...