As the global voice of the accountancy profession, IFAC has supported the establishment of the International Sustainability Standards Board (ISSB)
to develop a comprehensive global baseline of sustainability
disclosures for investors and capital markets, endorsed by IOSCO and
implemented around the world. This will lead the way to a harmonized,
global system of consistent, comparable, reliable, and assurable
information.
Now, two new proposed standards from the ISSB
address the urgency of the climate crisis and chart a course for
companies and policymakers to transition to ISSB Sustainability
Disclosure Standards as they become available. Importantly, they build
upon TCFD recommendations and SASB Standards, in addition to the work of
the Climate Disclosure Standards Board, the International Accounting
Standards Board, the Value Reporting Foundation, and the World Economic
Forum.
IFAC CEO Kevin Dancey said, “Alignment among various
sustainability-related initiatives is important, so we strongly support
the ISSB’s continued work with international organizations and
jurisdictions so that these global baseline proposals can be
incorporated into jurisdictional requirements and be compatible with
disclosures that address broader stakeholder sustainability information
needs. Following an inclusive and transparent due process, consistent
with that of the IASB, will drive confidence and acceptance around the
world.”
IFAC will be responding and encourages members of the
accountancy profession to contribute their expertise and feedback by 29
July 2022 on these two proposals, as well as related
jurisdiction-specific initiatives, so that global alignment and
interoperability, connectivity to financial information, and the
assurability of sustainability disclosures is achieved.
IFAC
© IFAC - International Federation of Accountants
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article