GAAP Consulting
Date

Thursday 14 November 2024

Time

2:30 pm

Duration

1.5 CPD Hours

Session Topic

New legislation and AASB standards on climate risk disclosures

We continue our journey on climate change with a recap on the legislation, a high-level review of AASB S1 General Requirements for Disclosure of Climate-related Financial Information and AASB S2 Climate-related Financial Disclosures, regulators’ focus areas, and enforcement actions.

Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 has passed through parliament and is awaiting royal assent (at the time of writing). The legislation introduces mandatory climate-related financial-disclosure requirements, commencing with large businesses and emitters from 1 January 2025. Entities will have to prepare a sustainability report if they meet certain reporting thresholds.

This session will cover:

  • Key requirements of Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024
  • The principles of the climate-change standards AASB S1 and S2
  • The Sustainability report
  • ASIC’s report on Interventions on greenwashing misconduct: 2023–2024 and regulatory guidance, and
  • Assurance and ethical requirements
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This session is presented by:

Colin Parker

Principal | GAAP Consulting | Financial Reporting Expert

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board.

He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.

 

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Carmen Ridley

Principal | Australian Financial Reporting Solutions

Carmen has an excellent knowledge of financial reporting through significant experience with a number of major accounting firms in both the external audit and technical divisions and spending significant time analysing and interpreting accounting standards for clients.

Carmen is a former Board member of the AASB (2012 – 2020) and a former member of the IFRS for SME implementation committee (2020 – 2023).