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Helping Communities Thrive: Balancing Profit and Purpose

Helping Communities Thrive: Balancing Profit and Purpose

armanino-logo.pngMany qualified accounting professionals can execute audit, tax and consulting services, but what makes the professional and the firm they work for stand apart is what else they do and why they do it. California-based Armanino LLP has historically set their firm apart through their innovation, culture and impact on their community, but they have officially taken the next step in distinction: becoming a certified B Corporation.

A certified B Corporation (B Corp) is a business that meets the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.

“As the greater business community moves to a more Environmental, Social and Corporate Governance (ESG) focused business model, they will want a trusted advisor who knows how to get them there,” said Mary Tressel, Executive Director of the Armanino Foundation. “We now ‘walk the walk’ when it comes to this, making us more credible than ever.”

For Armanino, this certification not only validated the firm’s existing impact, but it also locked in a mission for the future of the firm, providing a roadmap to leading the global transition to a more equitable and sustainable economy.

“We really wanted to be a part of this elite group of businesses that are working for the common good and are concerned about stakeholders – all stakeholders, not just shareholders,” said Tressel.

The process to become a B Corp is not easy, but Armanino found they already met many of the requirements, operating as a B Corp even before the process began. Most of their preparation was gathering sufficient documentation to prove their case, and since receiving the B Corp status they have started to track additional metrics to encourage a shift in internal processes.

“We are a business that operates for more than just our bottom line,” said Anthony Rotolo, Strategy Consultant at Armanino. “We have a positive impact on our communities and our planet, and seeing everyone at the firm jump on board with the B Corp certification so quickly has been both validating and inspiring. This whole thing has given the firm a giant burst of energy that is apparent every day!”

Not only is Armanino one of only 17 accounting firms in the whole world with this designation, they are also the largest.

“I think we’re at that edge where people are going to require transparency from the companies they work with,” said Tressel. “They want to know they are working with a company that cares about their community, their people, their clients and puts into place mechanisms and processes to guarantee that those stakeholders are all considered.”

The impact this certification has on their community extends into Moore Social Ambition, the member-driven group focused on development of a sustainability and social value framework for Moore members. They are looking to make the process to becoming a certified B Corp more transparent, getting more buy-in from Moore members and helping all our communities thrive together.

“I think that whether it’s B Corp certification, the Moore Social Ambition program, or some other ESG measurement, our clients and employees are going to demand this of us – and Armanino is ready,” said Tressel.

For additional insights into this certification visit Armanino's Who We Are page, and you can also see Armanino's B Impact Score and Report here.