Class No.

: A2
Name : ACOBA, ANGELICA A.
Section : 3-AAC

Reference: Pandit, G. M. and Rubenfield, A. J. (2016). The Current State of

Sustainability Reporting by smaller S&P 500 companies. CPA Journal, 86(6), 52-57.

Reflection:

Nowadays, it has become important to consider not only ways on how to perform
well financially, but also on how to carry out responsibly other things companies are
expected to by the society. It has become important to be a more well-rounded entity
which not just focuses on strengthening its financial stability but also to practice its
corporate social responsibility and to develop its sustainability.

For me, it is but really important to implement such on every entitys framework so
as to monitor and control the impact of the activities that such companies have on their
environment, customers, employees, and the broader community. Also with this, the link
between an entitys strategy and its commitment to a sustainable global economy is being
demonstrated. It gives the entity not just a good image and exposure but also gives its
stakeholders confidence and stronger trust upon them. However, I realized also that it
wont happen overtime. It must be built into an organizations overall philosophy and
strategy and must be embedded on every concerned partys personality.

I also admired the entities which has structured sustainability initiative, which
ranged from a mission or vision statement outlining the companys approach to a clearly
laid-out framework of issues, priorities, goals, and objectives. It only shows that many
entities are still giving priorities not just financially but also socially as stated in the article
that while a few companies focused on environmental impact and resource efficiency,
some also focused on community involvement and even employee betterment. Also, I
appreciate the companies doing initiatives in place to ensure employee well being which
commonly deals with employee health, work satisfaction, human rights, and personal
growth as I believe that human capital is the greatest investment that a company can
attain.

Lastly, as regards the need for attestation regarding sustainability, it would be a

very great opportunity for CPAs when the time arrives the attestation of sustainability
activities would be mandated, as CPAs will be given significant opportunities for
expansion. The increasing emphasis on measuring and reporting sustainability and
associating it with a companys financial performance may offer new opportunities for
CPAs to be recognized as sustainability professionals who can advise their employers
and clients on how to grow in a sustainable way and how to measure sustainability
performance and report it to those who want it most.