IFAC hopes to foster discussion on how this approach can deliver a global system for consistent, comparable, and assurable sustainability-related information that best meets the needs of investors and other stakeholders.
Today, the International Federation of Accountants (IFAC) published a revised building blocks approach to reporting sustainability information—enhancing its previously issued roadmap, The Way Forward.
IFAC CEO Kevin Dancey said, “As the IFRS Foundation
continues to consider establishing a new International Sustainability
Standards Board and as jurisdiction-specific initiatives progress, IFAC
is lending its voice to clarify how components can best fit together to
meet the needs of all stakeholders. The IFRS initiative—as well as
jurisdiction-specific initiatives—should build on what already exists,
help create or contribute to a global system, and accommodate different
views of what information stakeholders require. The building blocks
approach makes this possible.”
IFAC supports a new
standard-setting board under the IFRS Foundation that can lead to the
coordination and harmonization of reporting and provide a baseline of
requirements addressing sustainability information that is material to
enterprise value. The IFRS Foundation has proposed amendments to the Constitution of the Foundation
as it continues to consider establishing a new board. IFAC encourages
its member organizations to submit comments to this IFRS Foundation
consultation.
IFAC welcomes feedback on the building blocks
approach and plans to engage with stakeholders at future IFAC events
addressing the broader journey to an enhanced corporate reporting world.
About IFAC
IFAC
is the global organization for the accountancy profession dedicated to
serving the public interest by strengthening the profession and
contributing to the development of strong international economies. IFAC
is comprised of 180 members and associates in 135 countries and
jurisdictions, representing more than 3 million accountants in public
practice, education, government service, industry, and commerce.
IFAC
© IFAC
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