Response of Accountancy Europe to the Trustees' sustainability consultation

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17 Dec, 2020

Accountancy Europe has submitted a comment letter on the IFRS Foundation Trustees’ consultation paper on sustainability reporting published in September 2020.

Similar to most other respondents, Accountancy Europe calls for global non-financial reporting standards and sees the IFRS Foundation in the best position to achieve this. The comment letter states:

We fully support setting up a sustainability standards board (SSB) to address NFI reporting, in parallel with the International Accounting Standards Board (IASB). The SSB would benefit from the global acceptance and applicability, oversight and due process of the IFRS Foundation.

Nevertheless, the letter also sets out a few point that Accountancy Europe believes merit further consideration by the IFRS Foundation:

  • Interconnected standard setting following a clear vision;
  • a two-stage approach to materiality;
  • collaboration with global and European stakeholders; and
  • building upon the work of existing initiatives such as CDP, CDSB, GRI, IIRC, and SASB.

Please click to access the full comment letter on the Accountancy Europe website.

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