Accounting for Impact: Bridging the Gap in Megaproject Social Impact Evaluation

This book chapter critically examines the evolving role of accounting in evaluating the social impacts of megaprojects, an area of increasing significance due to the profound influence these large-scale undertakings have on communities and environments. Through a critical literature review, the chapter elucidates the complex interplay between accounting practices and the multifaceted social dimensions of megaprojects, which range from infrastructure development to large-scale energy transition. By categorising the existing literature into thematic areas, the chapter provides a structured analysis, highlighting the current state of research at the intersection of accounting and megaproject evaluation. It identifies key gaps in the literature, particularly the underexplored potential of social accounting tools and methodologies to offer nuanced insights into the social impacts of megaprojects. Moreover, it proposes a framework for future research that aims to bridge these gaps, offering a roadmap for social accounting scholars to contribute more significantly to assessing megaprojects’ social implications. This chapter ultimately serves as a call to action for accounting researchers to engage with the complex, yet crucial, domain of megaproject evaluation, advocating for a multidisciplinary approach that enhances the understanding and management of these projects’ social impacts.