What we are about

The Corporate Accountability Network exists to:

  • Challenge the current framework of accounting standard used in the UK because they are designed solely for use by suppliers of capital to a company, including shareholders, and so do not meet the needs of most users of accounts, at cost to society at large;
  • Promote the idea that there are six stakeholder groups for companies, and that all deserve to have their interests taken into account in corporate reporting. Those stakeholder groups are:
    • The suppliers of capital to a company, including its shareholders;
    • Those people a company does, or might, trade with;
    • Employees, whether present or retired, as well as those seeking work;
    • Regulators;
    • Tax authorities;
    • Civil society in all its forms.
  • Suggest an alternative framework for accounting standards in the UK that takes into account the needs of all the stakeholders of UK based businesses;
  • Suggest the likely range of accounting standards that will eventually be required by such a framework;
  • Propose at least two, and possibly more, accounting standards prepared in accordance with this framework. These are likely to address the accounting information needs of employees of companies and the information needs of the users of smaller company accounts with the specific aim of supporting local economies by providing them with better information;
  • Seek support from businesses, professional groups and institutes, NGO and others for the proposals being made;
  • Propose changes to UK company law to improve the availability of accounting data in this country;
  • Establish a network to take this work forward.

The drop-down menu to this section provides links to pages explaining why and how we intend to address these issues. The Projects page provides links to the specific issues we plan to tackle in the first instance.