Thought Leadership, Research & CPA Spotlights

Sustainability Strategic Advisory Committee

The Sustainability Strategic Advisory Committee (the “Committee”) was established to provide input to CPA Ontario on sustainability emerging issues, thought leadership, sustainability related standards, how to support CPAs on sustainability matters and input on the direction and format of professional development resources.

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Objectives

Provide a forum for identifying and addressing current and emerging needs of CPA members and CPA students working in public practice and industry relating to sustainability matters.
Support and contribute to CPA Ontario thought leadership and opinion pieces.
Advocate for the interests of CPA members and CPA students in sustainability matters to uphold the profession’s relevance in the sustainability domain to protect the public interest.
Monitor sustainability standard setting and regulatory activity, evaluate their impact on the profession and provide feedback to CPA Ontario for its response to proposed new or revisions to standards and regulations on behalf of CPA members.
Monitor, discuss and evaluate potential use and impacts of emerging technologies (e.g. Artificial Intelligence, Blockchain) in the context of sustainability matters.
Encourage active participation of all members in shaping the future of the profession relating to sustainability matters.
Advise on sustainability education resources for CPA members and CPA students to build CPA competence to ensure continued relevance of the profession.
Provide a forum for CPA members and CPA students to network on sustainability matters and share knowledge and experience on sustainability matters.

Members of the Committee

Chair Sarah Keyes, FCPA, FCA

Vice Chair Scott Morrison, CPA, CA

Joseph Bastien

Farah Bundeali, CPA, CA

Charles H. Cho, PhD, CPA

Elizabeth Demers, PhD

Brock Dunlop, CPA, CA

Alex Kotsopoulos, CFA

Rinna Sak, CPA, CA

Sabreen Salman, CPA, CA

Remi Straus, CPA, CA

Lara Shewchuk, FCPA, FCA

Sustainability Strategic Advisory Committee Meeting Summary

CPA Ontario’s Sustainability Strategic Advisory Committee (the “Committee”) convened for its inaugural meeting at CPA Ontario’s offices on March 26, 2024.

Chair and Vice-Chair Elections

Ms. Sarah Keyes was appointed as Committee Chair.

Mr. Scott Morrison was appointed as Committee Vice-Chair.

Committee Objectives

Members discussed and agreed upon the Committee’s objectives as set forth in the Committee’s Terms of Reference.

Objectives:

Provide a forum for identifying and addressing current and emerging needs of CPA members and CPA students working in public practice and industry relating to sustainability matters.
Support and contribute to CPA Ontario thought leadership and opinion pieces.
Advocate for the interests of CPA members and CPA students in sustainability matters to uphold the profession’s relevance in the sustainability domain to protect the public interest.
Monitor sustainability standard setting and regulatory activity, evaluate their impact on the profession and provide feedback to CPA Ontario for its response to proposed new or revisions to standards and regulations on behalf of CPA members. Monitor, discuss and evaluate potential use and impacts of emerging technologies (e.g. Artificial Intelligence, Blockchain) in the context of sustainability matters.
Encourage active participation of all members in shaping the future of the profession relating to sustainability matters.
Advise on sustainability education resources for CPA members and CPA students to build CPA competence to ensure continued relevance of the profession.
Provide a forum for CPA members and CPA students to network on sustainability matters and share knowledge and experience on sustainability matters.

Definition of Sustainability

Members discussed the working definition of sustainability for the Committee to guide its work. Several definitions were discussed, including sustainability with a single (financial) materiality perspective, a double (impact) materiality perspective and a triple (context-based) materiality perspective. Ultimately, members resolved to adopt a definition of sustainability that considers both a financial materiality lens (outside-in view) and impact materiality lens (inside-out view).

CPAs and Sustainability

Members discussed the importance of upskilling CPAs in sustainability to remain relevant as trusted advisors and how to support CPAs in their journey to learn and apply requirements of sustainability reporting and assurance standards.

The Future of the Profession

Members discussed how sustainability fits into the future of the profession, including ensuring its continued relevance in an ever-evolving world.

Member demographics

Members discussed using CPA Ontario’s demographics to inform the Committee’s focus areas.

Meeting Cadence

Members resolved for the Committee to meet quarterly; two times in person and two times virtually on an alternating basis.

Future Meeting Discussion Topics

Members resolved to discuss at the next meeting: i) emerging issues in sustainability and ii) addressing sustainability challenges and resources for CPAs.