In an integrated report, sustainability information is included along with financial information. These reports emphasize the links between financial and non-financial performance. An integrated report also presents the risks and opportunities the company faces, integrated with disclosure of environmental, social, and governance issues.
c. GRI offers two “in accordance” reporting options, Core and Comprehensive. For each option, there is a corresponding claim, or statement of use, that the organization is required to include in the report. The Core report provides the essential elements of a sustainability report. The Comprehensive report includes additional disclosures of the organization’s strategy and analysis, governance, and ethics and integrity. The GRI recommends external assurance, but it is not required for either type of “in accordance” report.
1-25 a. Answers will vary by state. Most states require 150 hours of education, with specific requirements for number of accounting hours and credit hours in other subject areas.
b. Answers will vary by state. Many states require one or two years of work experience gained in public practice, or possibly government, academia or industry, depending on the state. In many states, experience in industry or internal audit is sufficient, depending on the type of work performed.
c. Most states have frequently addressed questions. Many of these address education requirements, as well as information on how to prepare for the exam, as well as information on applying for licensure.
d. The Elijah Watt Sells award program was established in 1923 by the American Institute of Certified Public Accountants (AICPA) to recognize outstanding performance on the Uniform CPA Examination. The award is presented to candidates who obtained a cumulative average score above 95.50 across all four sections of the Uniform CPA Examination, completed testing during the previous calendar year, and passed all four sections of the Examination on their first attempt.
e. Passing information is available on the CPA Examination portion of the AICPA web site. Recent passing rates have ranged from approximately 42% to 60% across the four sections.