The rise of Social Impact Accountants: Fiddling with excel & saving the world? -

The rise of Social Impact Accountants: Fiddling with excel & saving the world?

When I was a kid in the 80’s and asked “what would you like to be when you grow up?” I never once answered “a Social Impact Accountant”… Why didn’t I become a rock star or an astronaut? Why does nobody wear shell suits anymore, and what are the goonies doing these days? When I trained as an Accountant, I did wear a superman costume underneath my suit though, just in case – well, now is my chance to shine!

Today, as part of a new breed of Social Impact Accountants, I’m driven by a vision to redefine accounting for the betterment of society and the planet. With a background in auditing diverse companies spanning the charity, retail, and banking sectors, I believe that the emergence of Social Impact Accountants is not just a trend but a necessity in the modern business world.

Social impact accounting transcends traditional financial reporting by centring on the triple bottom line: people, planet, and profit. It entails applying the same level of expertise, diligence, and ethical standards to empower organisations that prioritise social responsibility. My aspiration is to establish a universally acknowledged ‘Social Impact Statement’ that complements financial reports, serving as a testament to a company’s commitment to social and environmental stewardship.

In today’s corporate landscape, large enterprises are mandated to produce ESG (Environmental, Social, and Governance) reports. However, these reports often serve the purpose of risk mitigation to meet investor demands, often lacking the depth and authenticity required for genuine social impact. While the business world is awakening to the benefits of sustainable practices in enhancing brand reputation and fostering stakeholder relationships, the shadow of greenwashing and social washing looms large.

At the core of our consultancy, ‘My Social Impact,’ lies a collaborative effort with a former Saatchi & Saatchi Creative Director and a Deloitte consultant. Together, we ensure that social impact stems from a coherent and meaningful social purpose. Our mission extends beyond mere avoidance of harm; we strive to inspire companies to explore untapped potential and channel their resources towards creating a broader positive influence on society and the environment. By encouraging businesses to embrace a holistic approach, we aim to align their actions with the United Nations Sustainable Development Goals (SDGs) and pave the way for a more sustainable and equitable world.

By the way, I also studied Economics a long while ago Nottingham University, and having thought it was quite a lot of nonsense based on false assumptions about “rational man” and I’m happy to see the emergence of a new more “Human Economics” emerging inspired by people like Kate Rowarth (Author of Donut Economics), Lord Richard Layard (Wellbeing Economist and founder of Action for Happiness) & Professor Tim Jackson (Author of “Prosperity without growth”). For hundreds of years, old economic models have shaped our world, and even how humans feel about themselves too, and I believe it’s time for a substantial rethink to ensure sustainability & wellbeing are front and centre in the dawn of a new economic age.

We think it’s essential that companies transcend the limits of profit generation and embrace a conscientious business model that prioritizes societal well-being and environmental preservation. As a ‘Social Impact Accountant’ I invite a new wave of professionals to join me in shaping this exciting new area. Together, we can redefine the purpose of accounting, catalyze a shift towards responsible business practices, and foster a culture of innovation that celebrates social impact alongside financial success.

So, if you’re an Accountant who’s equally excited about shaping the future of Accountancy, stick some underpants on over your suit, and get in touch right away!

12 years ago I started a cloud based accountancy firm called Archie & Doris, and since then the Accounting profession has radically altered how they do absolutely everything and clients who use tech products like Xero, get better and more timely reports on how their business is performing. There are many tech solutions now to help clients to measure social value, including Social Value Portal, Thrive, Loop, The Impact Advantage, Impact Management & The Social Value Company. They all have slightly different methodologies. Soon there will be Social Impact Software that helps organisations to measure and report on their social impact, and the best one at the moment seems to be Sopact. This is an exciting and evolving space, but I think we still need someone to create “the Xero for social impact”.

So if you’re a tech bod, and you’d like to get in touch about how we bring together the right people to develop and promote this, then similarly, stick your underpants on over your suit and drop me a line too.

My Social Impact is a consultancy, on a mission to make sure every organisation makes better decisions based on its social impacts. We can help organisations to see the bigger picture, and bring together often disparate functions across HR, CSR, ESG & Marketing to ensure that the organisation has a clear social purpose and strategy for making an impact, then we make sure the impact is measured properly and reported to all the stakeholders in a dynamic way.

If you’d like to have a chat about any of this, then, yes, you guessed it, stick on some underpants, over your suit, and email me right now: marcus@mysocialimpact.org

We’re also starting a new series of zoom discussions and debates around social impact and how we can share ideas and come together to make a better world – please join our meetup group, and find out about our next debate (they will always be held on the last Wednesday of every month): https://www.meetup.com/the-real-debate-club/ . We’re also developing a new social impact podcast, so if you’d like to be interviewed for that, let me know.

Sustainable Development Goal 17 is about “partnerships for the goals.” One of the 17 Sustainable Development Goals established by the United Nations in 2015, the official wording is: “Strengthen the means of implementation and revitalise the global partnership for sustainable development”. We are aligned towards achieving SDG17, by linking up with other likeminded people and organisations.

So, let’s come together, and embark on a mission to build a future where businesses thrive not only in monetary terms but also in their contribution to a sustainable and inclusive society. Let’s write a new chapter in the story of Accounting – one that echoes with the voices of social impact, integrity, and purpose. The time for change is now, and the power to shape a better tomorrow lies within each one of us.

Thank you very much for reading this far, and hopefully see you soon, on zoom or in person!

Marcus Warry

Co-Founder

M: +44 7879 812 789

E: marcus@mysocialimpact.org