Thursday 16 November 2023


12:00 pm


1.5 CPD Hours

Session Topic

Sustainability standards are here with an emerging regulatory framework

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).

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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).