The Role of the Accounting and Control Professional in Monitoring and Controlling Sustainable Value

Abstract

This study explains the role of the accounting and control professional in monitoring and controlling sustainable value. The general conclusion of our research is that the accounting and control professional should play a leading role in this process. Our findings explain how this role can be designed, state the current obstacles to implementing this role successfully, and indicate the necessary steps to deal with these obstacles. We argue that the most critical obstacle to implementing this crucial role is the current mindset of the accounting and control professional, which is mainly focused on financial value. We discuss the factors impacting the needed mindset change, distinguishing between internal and external factors. Our study is based on 13 parallel focus group discussions with 55 senior finance, sustainability, and strategic professionals. Our research responds to calls in the literature for further research on the role of the finance professional in sustainability accounting and control. It also contributes to the current academic discussion about management accounting and control, focusing on sustainability.