More than 650 companies across Australia and New Zealand are certified B Corporations (B Corps) – a designation that demonstrates a business is meeting high standards of verified social and environmental performance, transparency and accountability.

Three B Corp accounting firms explain the benefits of certification.

Accounting for a better world

Purpose-driven business is all in a day’s work for Fairground. The New Zealand-based accounting firm is passionate about supporting impact enterprises to grow and succeed. It received B Corp certification in February 2024. Its Christchurch director, Anthony Rohan CA, reflects on what it means to the business.

Why did you pursue B Corp certification?

Fairground is an extension of the values that my business partner [Charmaine Meyers CA] and I personally hold as directors, so when we saw that there was a certification that aligned to the social and environmental side of business, we wanted to be part of it. But a big motivation for us was not about Fairground waving the flag and saying, ‘Hey, look at us, we are a B Corp’. It was more about giving legitimacy to our clients and saying, ‘Look, we can walk the talk here and we can help you walk that journey as well’.

What benefits have you experienced so far?

When we were certified, it was like a real family feeling or a warm welcome from other B Corps, because they understand what it takes to get there. It was B Corp Month in March, so we took the opportunity to announce our certification at the start of that month and to also showcase some of our clients who are also B Corps. They were stoked, because although they already aligned with our values and our purpose, becoming a B Corp added another reason for them to want to be with us.

It has also helped our team to really understand what we stand for. Being a purpose-driven business is something that the whole organisation lives and breathes.

What advice do you have for other accounting firms interested in B Corp certification?

The first big step of the process is completing the B Impact Assessment and that's where you first get an idea of how many points you might be eligible for. I suggest taking time to do the assessment, because even if you don't decide to go through with the B Corp certification process right away, it still gives you ideas of things that you could be doing to improve your business.

Force for good

New Zealand’s Greenhawk Chartered Accountants received B Corp certification in January 2024. Director Darrin Brown CA says the ethos of ‘business as a force for good’ aligns with Greenhawk’s own values.

Why did you pursue B Corp certification?

It was very much aligned with our values, and to become a B Corp is a source of verification against greenwashing and purpose washing, which is important to us.

What benefits have you experienced so far?

The process of gaining certification has prompted things that we could be doing in our business. For example, we now have a business-for-purpose policy document, which we didn't have before.

It has also helped us to attract talent, because people can see what we stand for. We think it will also help us to retain staff, because people want to work for a place that cares about our society and our planet.

Our people are actually getting inspired to do things differently. They are more aware of Scope 3 emissions, for example, and we’re seeing more people riding to work rather than driving. They're like, ‘Oh, this has made me get back into biking, whereas I wouldn't have really thought about it before’. We’ve seen a ripple effect happen across the business, which is awesome.

It has also opened the door for new clients and for existing clients because we can help to challenge them to think differently. But the core thing is you can't hide behind just being a B Corp. You have to be very good at what you do as an accounting company as well.

What advice do you have for other accounting firms interested in B Corp certification?

My advice is to just get started. Begin looking at the questions and just start filling them out. Even if it takes you longer than you want, it will start generating ideas for what you could do better. Schedule a couple of hours each week in your diary and just chip away at it.

Better together

Together Business is a First Nations-led accounting and business advisory practice founded by Anaiwan entrepreneur Sarah Hyland CA. It received B Corp certification in April 2023 and Hyland says it underscores the impactful nature of the accounting profession.

Why did you pursue B Corp certification?

I felt like being a B Corp would get me closer to the for-purpose market that I was servicing. I was also curious to test the certification process. It's easy for someone to create a policy document that says they care for the environment, but in practice do things that are to the contrary.

There was definitely a point in the process where I realised that an individual or a business owner can't go through the B Corp certification process without being genuinely dedicated to it. It requires a lot of time, effort and evidence.

What benefits have you experienced so far?

It has made me more aware of the purpose that I want to deliver on, because it was ingrained into the business from day one. There aren’t a lot of measurable outcomes that have come from it so far, but having the B Corp logo now and seeing it on other brands makes me feel like part of a community. I can appreciate now that it’s not easy just to get the tick of approval to become certified.

What advice do you have for other accounting firms interested in B Corp certification?

It's easy to make changes around your office, like going paperless or switching to energy-efficient light globes, but this process really requires you to look at your own practices and interrogate your supply chain. Who do you procure from? How diverse is your team?

There is a self-assessment tool, which is really helpful in gauging how far off you are or whether certification is in reach, and that was helpful.

In the social realm, the rising tide lifts all ships, so instead of just helping the rich get richer, let’s wrap around everyone. Business is such a powerful tool for self-determination and breaking cycles of disadvantage, and accountants play such a crucial role.

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How to become a B Corp

Certified B Corporations, or B Corps, are companies verified by B Lab to meet high standards of social and environmental performance, transparency and accountability. The B stands for ‘benefit for all’.

While the certification process varies depending on your company’s size and complexity, all companies must complete a series of steps to become a B Corp. It begins with registering for the free B Impact Assessment, completing a risk review and a disclosure questionnaire to learn your baseline score. If you score above the 80-point benchmark, you then submit a B Impact Assessment for review.

Once eligibility is determined, you enter the evaluation phase, where an analyst from B Lab Global will review your submission for verification. If you meet the verified 80-point threshold, you’ll enter the post-verification stage and sign the B Corp Agreement to achieve certification. To maintain B Corp status, organisations need to recertify every three years.