Please click to access the video (approx. 4 minutes) on YouTube.

This follows the Government Response to its consultation on Restoring Trust in Audit and Corporate Governance, which set out its intention to give ARGA statutory powers to raise a levy so that it has a sustainable and independent basis on which to carry out its regulatory activities.

The consultation document invites views on the high-level principles on which ARGA's funding model should be based.  Following this consultation, and subject to the Government’s legislative plans, the FRC expects to consult further on detailed aspects of the proposed arrangements, to be contained in a Rule Book.   

Comments are invited until 21 October 2022.

The press release and the consultation document are available on the FRC website. 

Update 21/12/2022 - a feedback statement is available on the FRC website here.

The guide, which was first published in 2017, offers a comprehensive portfolio of disclosures relating to each Sustainable Development Goals (SDG) target, drawing from a wide range of sources, including internationally recognised frameworks and standards. 

The updated version replaces the 2017 edition, adding further examples which incorporate new or updated sources of disclosures including new GRI Topic Standards, the GRI Universal Standards 2021 and the GRI Sector Standards.

The updated document provides:

• A list of existing and established disclosures that companies can use to report in connection with the SDG targets.
• An identification of existing gaps, where established disclosures are not yet available.
• A table with the corresponding indicators for governments developed by the UN-backed Inter-agency Expert Group on SDG Indicators (IAEG-SDG).

The report is intended to be used alongside another GRI publication: “Integrating the SDGs into corporate reporting: A practical guide” which outlines a three-step approach to embed the SDGs into existing business and reporting processes.

A press release and the publication can be found on the GRI’s website.

The VRF was formed in June 2021 with the merger of the International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB). The consolidation with the IFRS Foundation will inform the work of the IFRS Foundation through the industry-based approach of the SASB Standards and the Integrated Reporting Framework.

The consolidation is part of a COP26 objective to consolidate leading investor-focused sustainability disclosure organisations with the IFRS Foundation. 

For more information, see the press release on the IFRS Foundation website.

High­lights of the podcast include dis­cus­sions on:

• Analysis of feedback provided on the post-im­ple­men­ta­tion review of IFRS 9 — clas­si­fi­ca­tion and mea­sure­ment project.
• IFRS 9 requirements for assessing a financial asset’s contractual cash flow characteristics.
• Proposed project plan for dynamic risk management.
• Deliberations on the financial instruments with characteristics of equity, primary financial statements, rate-regulated activities, and goodwill and impairment projects.
• Possible steps forward related to disclosure initiative — targeted standards-level review of disclosures.
• Feedback on Exposure Draft, Supplier Finance Arrangements.
• Updates on maintenance and consistent application.

The podcast can be accessed through the press release on the IFRS Foundation website.

Please click to view the detailed notes taken by Deloitte observers for the IASB meeting.

The Transition to integrated thinking: a guide to getting started introduces integrated thinking and the recently published Integrated Thinking Principles, considering the benefits and challenges of practising integrated thinking. The Guide provides a five step approach to fully applying integrated thinking into an organisation, from the assessment stage through to the review and improve stage.

Also published by the VRF is a new Integrated Thinking Resource Hub, an online collection of best practices, processes and tools.

The Transition to integrated thinking: a guide to getting started is available here.

The Integrated Thinking Principles v1.0 is available here.

The Integrated Thinking Resource Hub can be accessed here.