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Can Accountants Change the World?
Why Keeping CSR Commitment is Key to Accounting Firm Success
In our world of accountants, amidst numbers and balance sheets, it's easy to lose sight of the bigger picture. So was the case with me, until COVID-19 happened.
The pandemic proved to be a wake-up call that brought me face-to-face with the gaping, glaring gray in our society, allowing me to realize the greater commitment we all have towards one another.
It was during the peak of the pandemic when I came across Rhythm of Life, an NGO dedicated to improving the lives of underprivileged children. The work they were doing resonated deeply with me, and I knew both my business and I were meant to become an integral part of their journey.
Today, how about we get into why accountancy firms need to be more conscious about their social responsibility? And why for us as accountants, activism around our mission and values remains central to all business activities?
Companies around the world are being held more accountable for their social and environmental impact. In fact, a 2022 Deloitte survey reports, 83% of global executives consider Environmental, Social, and Governance (ESG) factors to be important in their investment decisions.
Where does the accounting industry stand?
At first glance, Corporate Social Responsibility (CSR) might seem like an unusual focus for an accounting firm. But here's the thing: the true value of what we do isn't just in the numbers but in how we foster trust. Trust is at the heart of everything we do.
The 2021 Edelman Trust Barometer report indicated only 52% trusted the financial services sector, compared to the leading technology sector at 68%.
What’s the way out here? Strong CSR equals strong trust.
Besides the idea of being good corporate citizens, CSR allows accounting leaders to recognize the influence we wield and using it for the greater good. In fact, Edelman's 2021 Trust Barometer revealed that 68% of respondents believe CEOs should address societal issues.
This is the essence of Samera’s partnership with Rhythm of Life - a commitment to make real, tangible difference in the lives of children. By supporting their education, making quality learning material available, and bringing technology to their fingertips, we’re helping pave the way for a brighter future for these kids.
But here’s the flipside, all the financial aid in the world can’t bring change.
People inspire change.
In fact, a survey by Cone Communications revealed, 74% of employees found their job is more fulfilling when provided with opportunities to make a positive impact beyond work.
This calls for shedding the spotlight on the real driver of change here, MY TEAM, which is constantly and wholeheartedly involved in this mission. From volunteering at the play school to making festivals all the more colourful for the kids, our team members are the ones keeping and delivering Samera’s promise of fulfilling its social responsibility effectively.
While our work with Rhythm of Life is incredibly rewarding, there’s a good reason not to get too ahead of ourselves.
Because there are countless other Rhythm of Lives out there and these organizations regularly need support, whether it’s financial contributions, volunteer time, or professional expertise.
As accountants, we are in a unique position to support these organizations. Whether it’s helping with cloud kitchens, strengthening climate action, or enabling education and learning, there are numerous ways accounting firms can make a difference.
That’s why, there is a need to seek opportunities to support NGOs and community initiatives. Look for causes that resonate with your firm’s values and mission and find ways to contribute.
Most importantly, inspire your people to participate and contribute towards the greater cause – Glassdoor reports that 75% of employees expect employers to take a stand on social issues, significantly influencing their job decisions.
The rewards go beyond financial success—they enrich your professional journey and contribute to a more equitable world. By integrating CSR into your core values, you can inspire others in our field to recognize their potential to drive social change.
My experience has taught me that profits and purpose can go hand in hand. So, let's not just count the numbers, let's make the numbers count.
Learn more about issues we support as part of Samera’s CSR commitment here.
Visit our website here to learn how Samera Global can support your firm’s growth and efficiency.
Until next time,
Arun
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