Wednesday, April 16, 2008

Change of name

Dear Colleagues

The system of Community Impact Accountancy that has been developed by Tr-Ac-Net started life as Social Benefit Accountancy. Its edevelopment was driven, in some part, by the interest of Dr. Muhammad Yunus in deploying a system of accountancy that would be relevant for a "Social Business" and facilitate the creation of a stock market for social business.

Some of the Tr-Ac-Net history also makes such a system of interest. It has been very clear for many years that the corporate profit maximization model was effective from the view of the corporation and its stockholders, and maybe its seniot management, but that the impact on other stakeholders was being ignored.

While corporate social responsibility moves a bit in the direction of taking other stakeholders into consideration, it is only a small step and total inadequate as a universal tool for society or the public to hold corporate entities accountable for actions that are detrimental to society.

Any observations about this name change would be welcome.


Peter Burgess

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