The UPF Barcelona School of Management (UPF-BSM) and the Catalan Association of Accounting and Management (ACCID) have signed an agreement for the creation of the ACCID Chair of Transparency and Control . The signing ceremony was attended by the Director General of the school, José M. Martínez-Sierra, the Dean of UPF-BSM and director of the chair, Llorenç Bagur, the President of ACCID, Daniel Faura, and the Coordinator of ACCID, Ana Quesada.
The ACCID Chair of Transparency and Control at UPF Barcelona School of Management is born from the joint desire of both institutions to study the best practices in financial information and control, promoting research and disclosure in accounting and management matters . The Vice-Dean of Knowledge Transfer of the UPF-BSM, Ramon Bastida, and the Vice-Dean of Research of the UPF-BSM, Jordi Perramon, will also participate as researchers.
The main objectives of the chair are to produce research that can help companies improve their financial information; analyze financial and control information in the different sectors that make up the economy; study new trends and best practices in financial information and control; transfer the knowledge acquired through different types of publications and events (conferences, congresses, etc.) and reduce the distance between the results of academic research and their practical implications.
Bagur: “It is key that companies become aware of the need to be more transparent and provide information on intangibles in dimensions such as sustainability, environment, etc. This is precisely where this chair makes sense ”
According to the chair director, “there is a growing consensus regarding the need to complement classical financial accounting with qualitative items, so that it is more informative. Companies must stop being black boxes where only financial information flows”, says Llorenç Bagur.
The dean of UPF-BSM affirms that many studies show that financial statements are falling increasingly short when it comes to providing relevant information on real business risks and their ability to predict the future. And he adds that a large number of international institutions are already promoting actions to solve this lack of informational power in accounting.
“Not everything that counts can be measured in euros. And in this sense, it is key that companies, regardless of their size, become aware of the need to be more transparent in all senses and provide information on intangibles in dimensions such as sustainability, environment, corporate social responsibility, etc. This is precisely where this chair makes sense to raise awareness and disseminate this new paradigm”, concludes Bagur.
For the president of ACCID, Daniel Faura, the accounting of the future must broaden and surpass the axes that characterized its function: registration, classification and presentation valued economically and financially of the transactions managed by companies and organizations. According to Faura, accounting “must be constituted by a technical, social, and ethical practice that deals with the sustainable use of resources and the relevant and adequate accountability directed to the different interest groups, contributing to the growth of organizations, people and their natural environment. ”
Faura: "The accounting of the future must be a technical, social, and ethical practice that deals with the sustainable use of resources and accountability"
"Cooperation between academic institutions and professional associations is essential to innovate, achieve and transmit knowledge that is adapted to the needs and demands of the changes brought about by new paradigms, transformations and trends", adds the president of ACCID.
Within the framework of the creation of the chair, the announcement of an award for research in Catalan has also been agreed, which will recognize the best final master's thesis done at UPF-BSM in Catalan and that talks about accounting, finance and management issues. "This award aims to promote the use of Catalan as a business language and assess its potential in the fields of management and leadership," explains the director of the ACCID Chair in Transparency and Control, Llorenç Bagur.