Companies that ignore human capital will "go the way of the dinosaurs," according to Graham Ward, newly elected president of the Institute of Chartered Accountants in England & Wales (ICAEW). Ward believes that cultivating and measuring the "great intangible" of human capital is the next major challenge for both company boards and their accountants. "It's now too important to be left to the specialists."
Launching ICAEW's new publication, Human Capital and Corporate Reputation: Setting the Boardroom Agenda, he called on accountants to develop vital measurements of value in
this area. "Measuring intangibles like human capital may seem like a break with my profession's traditions but it is essential to building Britain's sustain-able economic success". Ward identified four key steps:
ICAEW is holding a conference on rep-utational capital, organised by the centre for business performance, in London in the spring of 2001. Issues will include:
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