AICPA Publishes Sustainability Information Attestation Guide
Providing accountants guidance on assurance regarding sustainability reporting, the American Institute of Certified Public Accountants (“AICPA”) has published Attestation Engagements on Sustainability Information — Including Greenhouse Gas Emissions Information. Susan Coffey, the organization’s executive vice president for public practice, said the attestation guide will cover areas aside from reporting on greenhouse gases and encourage consistency in assurance throughout sustainability engagement. The guide offers illustrative examination and review procedures to help accountants differentiate between the procedures. In addition, it features illustrative representation letters and accountants’ reports. The new guidance also addresses certain matters outside of the clarified attestation standards and offers. Read More.
Green Bonds Growing in Popularity
Reflecting the growing demand of investors, municipal bond fund managers are turning their attention to bonds associated with funding sustainable and environmental projects. Known as “green bonds,” the issuance of such bonds within the first six months of 2014 was $20 billion, an amount equivalent to total sales of the last seven years. According to the Bond Buyer, investors are attracted to green funds not just for the return, but to help promote conservation and counter the effects of global warming. Further, the popularity of green bonds has attracted investors that had not recently bought munis. For the complete story. Read More.