Sustainability is the hot topic. It’s likely to remain number one for some time. The International Sustainability Standards Board has released IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. They are effective for annual-reporting periods beginning on or after 1 January.
The AASB is continuing its deliberations on climate-related disclosure. ASIC and other regulators are taking action against greenwashing and poor disclosures. The federal government has released a consultation paper Climate-related financial disclosure. On the auditing front, Australian Auditing and Assurance Standards Board has released a paper on the proposed ISSA 5000 General Requirements for Sustainability Assurance Engagements.
Don’t be caught unawares.
This session will:
- Review the fundamentals of IFRS S1 and IFRS S2 and IOSCO’s endorsement
- Discuss the inter-relationship between IFRS S2 and TCFD
- Tell you about the AASB’s deliberations on sustainability and climate change
- Examine ASIC’s actions on green-washing and operating and financial reviews
- Identify standards affected by climate change
- Look at examples of climate-related disclosures, and
- Preview the consultation paper Climate-related financial disclosure.
This session builds on the GAAPinar library topic The new horizon sustainability and climate change – with an assurance twist (November 2022).
