Corporate Responsibility and Sustainability ReportingLaajuus (5 cr)

Intro

Corporate sustainability reporting has been practiced for years, but it has not been regulated. Companies have been able to report according to their own interests and choose the frameworks they prefer. This changed in 2024, especially for large companies and their subcontractors within the EU. The EU’s new sustainability reporting requirements, integrated into financial statements, came into effect at the beginning of 2024. The Accounting Act in Finland has been updated accordingly, and the first reports compliant with the CSRD (Corporate Sustainability Reporting Directive) were published in 2025. Further updates to reporting requirements are expected through the Omnibus initiative. Sustainability reporting represents a new and demanding area of expertise for financial professionals. In addition, sustainability reports will be subject to auditing, meaning that auditors must also familiarize themselves with the new requirements.

Learning objectives

A student who has completed this course or acquired equivalent competence:

is able to define corporate responsibility and is familiar with its various frameworks
knows the EU sustainability reporting requirements and can seek updated information about them
is familiar with circular economy business models and special accounting situations related to the circular economy
is able to apply the above knowledge by analyzing a company's operations from the perspective of responsibility and sustainability reporting

Contents

Corporate Responsibility, EU Green Deal
The EU’s CSRD (Corporate Sustainability Reporting Directive)
VSME (Voluntary Sustainability Reporting for SMEs)
Business models of circular economy companies and accounting challenges related to the circular economy

Implementation methods, demonstration and Work&Study

Course delivery methods: contact teaching, online, blended, virtual

If you already possess the learning outcomes of this course, you can demonstrate your competence. Please contact the course instructor for more information. Further details on recognition of prior learning: https://www.haaga-helia.fi/en/recognition-prior-learning-and-work-study

Learning materials

Silvola, Peill, Aspholm, Kaisanlahti. 2024. ESG and Sustainability Reporting in Finland – CSRD: Responsibilities and opportunities for business leaders. ST-Akatemia.

Other material which will be informed in course Moodle.

Starting level and linkage with other courses

In order to take this course, you need to have prior knowledge on doing accounting and preparing financial statements, for ex you should have taken courses ECO002AS2AE Financial Accounting, ECO005AS2AE Financial Statements and Corporate Tax or ECO002AS2A Kirjanpito and ECO005AS2A Tilinpäätös ja yritysverotus or have similar knowledge.

Assessment criteria - grade 1

When the implementation type of the course is CONTACT, ONLINE or BLENDED it is required that the student is present during those teaching hours that are marked in the study schedule. If you are absent more than 25 %, your grade will be lowered by one. If you are absent more than 50 %, the course is failed.

After completion of this course at this level, the student:
- Knows the basics of EUs sustainability standards and VSME,
- Is able to independently find some information about VSME and other sustainability standards
- Is able to do some analysis on companies' sustainability reports in a group work and communicate findings to other students in a multicultural teams
- Is able to apply the standards in some real life business cases in a group work

Assessment criteria - grade 3

After completion of this course at this level, the student:
- Knows the basics of EUs sustainability standards and VSME
- Is able to independently find more information about sustainability standards
- Is able to analyse companies sustainability reports in a group work and communicate findings to other students in a multicultural teams
- Is able to apply the standards in real life business cases in a group work

Assessment criteria - grade 5

After completion of this course at this level, the student:
- Knows the basics of EUs sustainability standards and VSME
- Is able to independently find more information about the sustainability requlation related to the company type and location
- Is able to apply IFRS standards in typical real life business cases and argument possible solutions with standards.
- Is able to work efficiently and contribute well in a group work where sustainability reports are analysed and presented to other students in a multicultural team.

Further information

This course is part of the advanced studies in the Accounting and Finance specialization.