Please find below a brief summary of news and events from the IFRS® Foundation over the past month:
The International Sustainability Standards Board (ISSB) has issued its inaugural standards—IFRS S1 and IFRS S2—ushering in a new era of sustainability-related disclosures in capital markets worldwide. The Standards will help to improve trust and confidence in company disclosures about sustainability to inform investment decisions.
Here is an article on 10 things to know about the first ISSB Standards. Sue Lloyd, ISSB Vice-Chair, gives a high level overview of the new sustainability disclosure standards in two webcasts.
Julia Hoggett joined the London Stock Exchange plc in 2021 and has had an extensive career in the finance and banking industries. She spoke at the IFRS Foundation Conference that was held on 26-27 June in London.
The World Economic Forum announced that it is to form an ISSB Preparers Group comprising corporate leaders with diverse expertise in sustainability reporting. The group will offer insights and corporate perspectives to the International Sustainability Standards Board (ISSB) following the release of its first sustainability standards.
The opening of the office in China follows the signing of a memorandum of understanding between the IFRS Foundation and the Ministry of Finance of China in December 2022.
The IASB calls for stakeholder feedback to inform its review of the IFRS Accounting Standard for revenue from contracts with customers, IFRS 15.
The deadline for comments is 27 October 2023.
The proposed amendments to the income tax section of the Accounting Standard would provide the same relief as the amendments to IAS 12 Income Taxes issued in May 2023, and come in response to the Organisation for Economic Co-operation and Development’s (OECD) Pillar Two model rules.
The International Sustainability Standards Board (ISSB) technical staff has produced a webcast on the consultation on the ISSB's next two-year work plan. The Request for Information is open for comments until 1 September 2023.
This and another ISSB consultation are now available in the following languages: French, Japanese, Simplified Chinese and Spanish.
The Trustees of the IFRS Foundation have approved the reappointments of Tadeu Cendon and Rika Suzuki to serve a second five-year term, starting on 1 July 2024.
The appointments were made following completion of the reappointment process by the Trustees.
Eight new members have been appointed to the SME Implementation Group (SMEIG) following the March 2023 invitation for nominations and applications for SMEIG membership. These new members will start their three-year terms on 1 July 2023, replacing seven members who will step down on 30 June 2023.
Here is a summary of the meeting that was held on 20-22 June.
In the June podcast Sue Lloyd and Emmanuel Faber discuss the launch of the ISSB's first two Standards, IFRS S1 and IFRS S2, upcoming launch events and recent stakeholder engagements.