Grant Thornton at the CReCER 2023 Conference

CReCER is the World Bank's Accountability and Responsibility for Regional Economic Growth initiative. The Conference takes place every two years and seeks to promote transparency and accountability in Latin America and the Caribbean. Along with the World Bank, the Inter-American Development Bank (IDB), the International Federation of Accountants (IFAC) and the Global Public Policy Committee (GPPG) are participating in the meeting.

This year, the axes of the Conference were sustainability reports and the benefits that technology brings to regional economic development through high-quality financial reports and the use of this for greater transparency and accountability. These axes contribute to greater transparency in accountability.

Gabriel Righini, Audit Partner at Grant Thornton Argentina and a benchmark in the Energy and Natural Resources industry at our firm, participated in the meeting.

Prior to the Conference, Gabriel was part of the Forum of Firms. This meeting was attended by leading audit firms in the Region and IFAC members. “The intent of the forum is to discuss issues that affect the accounting profession. In particular, the increased pressure on auditors and how to provide assurance to sustainability reports. These documents are being issued by a greater number of large companies in recent years and will soon be mandatory for certain entities”, Righini specified.

After the event, the Latinamerican Coordinating Committee was held together with members of the Regulatory Working Group and IFAC members. "This meeting of partners from large audit firms with IFAC members served to review the regulatory framework of the profession of accountants and auditors in LATAM," says Gabriel.

Righini anticipates that by 2024 a regulatory framework for auditing and issuing reports on sustainability reports will be established. This new assurance standard would provide for the establishment of indicators to audit and measure different aspects such as the use of energy, water treatment, the use of plastics, waste recycling, among others.