THE IMPACT OF SUSTAINABILITY REPORTING ON PUBLIC ACCOUNTING PRACTICES
This study examines the impact of sustainability reporting on public accounting practices. The objectives are to evaluate how sustainability reporting influences public accounting standards, to assess the role of public accountants in the preparation and verification of sustainability reports, and to identify the challenges faced in integrating sustainability reporting into traditional accounting practices. A survey research design was employed to gather detailed and varied perspectives from public accounting professionals. A sample size of 200 respondents was determined using Taro Yamane's formula, providing a statistically significant representation of the population. Lagos, Nigeria, was chosen as the case study due to its prominence as a business hub with numerous firms engaged in sustainability reporting. The survey instrument achieved a reliability coefficient score of 0.85, reflecting its reliability. Findings indicate that sustainability reporting has a substantial impact on public accounting practices by introducing new standards and increasing the scope of accountants' responsibilities. The integration of sustainability metrics poses challenges, including the need for additional training and adjustments to existing accounting frameworks. The study recommends that accounting bodies develop comprehensive guidelines for sustainability reporting and that public accounting firms invest in training their staff to handle these new reporting requirements effectively.
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