Last updated: 10 Aug 2026 10:00 Posted in:
Jenny Herrera (Good Business Charter) believes that accountants can build organisational resilience, improve performance and support sustainable growth by embedding responsible business practices such as social sustainability, employee wellbeing and stakeholder trust.
The role of the accountant has been evolving rapidly for some time, and both individuals and firms are having to adapt quickly. When I think back to the start of my career in 1998 as a junior auditor with PwC, it is hard to imagine what that role would look like today, particularly in a world where AI is rapidly becoming part of everyday accountancy. Gone are the days of pulling files off the shelf and manually hunting down a sample of invoices.
Nearly three decades on, I work in a very different sector, leading the Good Business Foundation, the charity behind the Good Business Charter, an accreditation recognising responsible business practices. It has given me a fresh perspective on the changing role that accountants can play in creating long-term value, whether working in industry or practice.
Accountants have an increasingly important part to play that extends far beyond balancing the books. Attending a PwC seminar last year on the Corporate Sustainability Reporting Directive, I was struck by how closely my world now overlaps with that of finance directors and auditors, and by the depth of understanding and evidence they are increasingly expected to provide.
As assurance requirements for sustainability disclosures expand, accountants are having to dig deep into the detail of what their organisations are doing to protect people and the environment, and ensure that their reporting is supported by robust evidence.
This is not simply a UK trend. Around the world, regulators, investors and other stakeholders are placing greater emphasis on the social impact of business, alongside its environmental performance. Many European countries have gone further than the UK in embedding employee voices within corporate governance, with board-level employee representation required in 17 states.
While approaches vary between jurisdictions, the direction of travel is clear: accountants are increasingly being asked to demonstrate how organisations create long-term value for all their stakeholders, not just shareholders.
One unintended consequence may be that, at least in the short term, organisations devote more time to documenting and evidencing existing activity than to introducing new sustainability initiatives.
For some time, sustainability experts have been in high demand. Stories of specialists being recruited from audit firms into industry reflect the growing value being placed on these skills, while also highlighting the challenge of securing sufficient expertise to meet expanding reporting requirements.
The accounting profession faces a significant green skills gap, not just in the environmental sector.
The business case
If we take a step back from all this regulation, there is no doubt in my mind that these initiatives are ultimately good news for the long-term sustainability of companies of every size. They help to rebalance the short-term pressures of quarterly performance and shareholder expectations with a broader understanding of the wider impact that businesses have on people and the environment, and how that can contribute to long-term financial success.
Through my work with small scale-ups, and with our founder, entrepreneur Julian Richer, I see a genuine appetite to do the right thing, not simply because it is morally sound, but because it makes commercial sense.
There is, however, a risk that larger, more established organisations underestimate the importance of socially responsible business practices. Could they be left behind if they adopt such an approach?
While environmental impacts have become easier to measure and reporting frameworks more mature, the social dimension of ESG still too often receives less attention. Yet it matters.
Poor treatment of key stakeholders, particularly employees and suppliers, creates measurable economic costs. Here are some key ones:
The flip side of this is that responsible business practices genuinely deliver bottom-line benefits for an organisation. Secure employment reduces financial stress and improves workforce reliability, while fair pay helps organisations attract and retain talented people.
Over time, strong employment practices reduce recruitment costs, improve continuity and create a more experienced workforce capable of delivering better customer service. Employees who feel valued and fairly treated are also less likely to become disengaged, reducing the risk of behaviours that can harm the organisation, including fraud and theft.
Evidence suggests that investment in employee wellbeing generates measurable returns through improved attendance, engagement and performance.
For every £1 spent on supporting the mental health and wellbeing of their workforce, employers receive an average return of about £4.70 in increased productivity.
Companies with more diverse leadership teams typically bring broader perspectives, stronger challenge and more adaptable decision-making, and so are likely to outperform their peers.
Research by the Institute of Business Ethics consistently shows that trust remains one of the strongest drivers of customer loyalty, making the link between treating employees well and delivering excellent customer service stronger than ever.
Adding value
Responsible business practices strengthen reputation by increasing perceptions of fairness, reliability, transparency and consistency. They also help organisations to attract and retain talented people, build stronger relationships with customers and suppliers, and create long term commercial value.
Whether preparing management accounts, providing assurance or advising clients, finance professionals are increasingly expected to bring together financial and non-financial information to support better decisions. This places accountants in a unique position to help organisations embed responsible business practices into long-term strategy.
Accountants therefore have an exciting opportunity to add real value to the organisations they work in, or the clients they audit, by helping organisations on their sustainability journey. They will find allies at every turn, especially among younger generations.
In a climate where we have ricocheted from one hugely challenging backdrop to another, long-term sustainability matters more than ever.
Accountants who focus solely on the next 12 to 18 months may be diligently complying with accounting and auditing standards. However, they are missing the opportunity to add greater value by helping organisations invest in the practices that will make them more resilient for years to come.
That may involve difficult decisions, such as raising wages to a living wage or introducing systems so that suppliers are paid promptly rather than being squeezed by late payment.
Though such measures may involve short term costs, they can deliver long-term benefits through stronger relationships, improved resilience and an enhanced reputation.
Leading by example
Sometimes we can be surprisingly reluctant to make a clear declaration of what we stand for.
The modern world needs bold leadership, and I applaud efforts by organisations to amplify the voices of young, emerging leaders and inspire us all to strive for better.
Frameworks such as the Good Business Charter provide organisations with a practical way of demonstrating their commitment to responsible business. Measuring compliance typically involves cross-departmental conversations between HR, sustainability, procurement and finance.
I love it when my main point of contact is the Head of Finance because of our shared accountancy background. I have seen finance directors take the reins of something like this and really drive these initiatives through their businesses. They understand that although investing in stakeholders requires funding, it is in their long-term interest.
One company established a Responsible Business Group, chaired by the finance director, which met quarterly to keep these issues firmly on the agenda. The group also produced an annual report explaining, in an accessible way, how the organisation was putting responsible business into practice.
Sometimes it is the simple things that cut through in a content-overloaded world.
For accountancy firms themselves, there is also real value in demonstrating that they operate as responsible businesses, caring for all their stakeholders and leading by example. It is, after all, a highly competitive profession, both when recruiting talented people and attracting new clients.
I remember having four offers for my own training contract. In the end, my decision came down to where I felt I would be most comfortable based on the people I met.
Young graduates and apprentices are increasingly interested in how firms demonstrate their responsible business credentials, and clients are equally keen to know that their advisers share their values.
Clarity about what you stand for, supported by a recognised framework such as the Good Business Charter, can be a powerful way to differentiate your firm.
As the role of the accountant continues to expand well beyond compliance, there is a real opportunity to lead from the front and inspire clients to do the same.
What is the Good Business Charter?
The Good Business Charter is a UK accreditation that recognises organisations committed to responsible business practices. It is designed to provide a practical framework that helps organisations demonstrate their commitment to treating employees, customers, suppliers and the wider community fairly, while embedding responsible business behaviour across the organisation.
The Charter is produced by the Good Business Foundation, a registered charity established to promote responsible business conduct. It was developed in consultation with leading business and workforce organisations, including the Confederation of British Industry (CBI), the Federation of Small Businesses (FSB) and the Trades Union Congress (TUC), with the aim of creating a broad, accessible standard that organisations of all sizes can adopt.
The accreditation covers a wide range of responsible business practices, including fair pay, employee wellbeing, diversity and inclusion, environmental responsibility, prompt payment to suppliers, responsible tax conduct and ethical sourcing.
Rather than focusing on a single aspect of sustainability, it encourages organisations to consider how their decisions affect all key stakeholders.
The Good Business Charter illustrates how governance, financial stewardship and responsible business practices increasingly work hand in hand to support long-term organisational resilience and sustainable growth.
Author bio
Jennifer Herrera
CEO
Good Business Charter
"Around the world, regulators, investors and other stakeholders are placing greater emphasis on the social impact of business."
Jenny Herrera, CEO, Good Business Charter