Your text includes discussions on "People, Planet and Profit". According to your text, "sustainable business practices present numerous issues for management and managerial accountants". According to Martin and Steele "The two principal professional associations in Australia - CPA Australia (the CPA) and the Institute of Chartered Accountants in Australia (the Institute) have indicated their awareness of the significance of issues of sustainability reporting and development of appropriate skill sets in word and in deed. The commitment of both organisations to sustainability principles has been shown by their adoption of, and support for, sustainability-focused reporting approaches and by their opting to take up membership of the Accounting for Sustainability Forum."

How to Discuss the stance and initiatives of the Australian accounting profession on corporate social responsibility (CSR) and sustainability.

In your view, what role can the accounting profession play in this context? As an example, discuss the way in which BHP Billiton has demonstrated its social and environmental accountability.