. Executive Summary
This report is based on a research study of the prevailing sustainability issue for the accounting profession that has indeed become one of the biggest challenges for continual survival keeping in view the current cut-throat competition in highly developed economies such as Australia. It also investigates the motives of the accounting firms towards sustainability and the concerns of the major stakeholders involved therein. The report also elaborates the possible opportunities it can provide along with challenging risk implications. A detailed research study has been performed by review of the firm’s processes and systems and interviews of various stakeholders. In addition, this report fully provides guidance on the need to set a vision based strategy for sustainability along with evaluation criteria against each identified factor. Furthermore, it also provides information on the elements of the sustainability program that needs to be implemented by the firm along with ways to induce employees towards the program. Accordingly, the study revealed that the firm needs to adopt a comprehensive sustainable policy integrated to its key business areas of services and continual professional development of professional staff through training programs and performance evaluation techniques along with emphasis towards compliance with environmental, political and legal regulations and its overall contribution towards its major stakeholders for long-term success. Lastly, conclusions have also been drawn on the basis of arguments for and against in introducing a sustainability program and necessary remedial measures in the implementation of such a strategy.
ii. Introduction ii(a) Background