Staff paper on the AASB’s proposed approach to sustainability-related financial standards in Australia

  • AASB (Australian Accounting Standards Board) (lt blue) Image

29 Jun 2022

The staff of the Australian Accounting Standards Board (AASB) has published a paper 'What is the AASB’s proposed approach to sustainability-related financial standards in Australia?' .

The AASB is seeking to position Australian sustainability-related reporting requirements as a separate suite of standards because such an approach:

  • aligns more broadly with the approaches of international sustainability-related reporting standard-setters and framework providers (such as the IFRS Foundation) and jurisdictions (such as New Zealand, the United Kingdom, Canada, and the European Union);
  • allows the AASB more flexibility to develop sustainability-related financial reporting requirements that can address the reporting of a broad range of sustainability-related financial information (such as information related to biodiversity and human rights) either as part of general purpose financial reporting or as a separate reporting exercise; and
  • is consistent with the approach to Australian Accounting Standards by leaving the decision to mandate sustainability-related financial reporting with the relevant Australian legislators.

Please click to access the staff paper on the AASB website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.