EFRAG is undertaking preparatory work in anticipation of the IASB's request for information related to the post-implementation review of IFRS 16 Leases that is expected to commence in Q4 2024. With this second survey, EFRAG invites users of financial statements to provide their views on the usefulness of information as a result of the implementation of IFRS 16. The survey feedback will complement the feedback received from preparers, auditors, regulators, and national standard setters.

Please click to access the survey on the EFRAG website. Comments are requested by 22 April 2024.

The purpose of the workshop is to discuss academic evidence relevant to the exposure draft and identify areas where further academic evidence would be helpful. 

Please click for more information and registration on the EAA website.

Note: A recording of the workshop was made available on YouTube on 5 April 2024.

Please click to access the updated alignment dashboard prepared for the March 2024 IPSASB meeting on the IPSASB website.

IFRS S1 sets out overall requirements with the objective to require an entity to disclose information about its sustainability-related risks and opportunities that is useful to the primary users of general purpose financial reports in making decisions relating to providing resources to the entity.

IFRS S2 sets out the requirements for identifying, measuring and disclosing information about climate-related risks and opportunities that is useful to primary users of general purpose financial reports in making decisions relating to providing resources to the entity.

Please click to access the standards on the IFRS Foundation website:

• IFRS S1 in Japanese language
• IFRS S2 in Japanese language
• IFRS S1 in Korean language
• IFRS S2 in Korean language

The SRG is a diverse group of subject matter experts on sustainability and general purpose financial reports, as well as disclosure. The purpose of the SRG is to provide technical input to members of the International Sustainability Standards Board (ISSB) and its staff for research and standard-setting projects.

The SRG will be comprised of approximately 150 members, who should have professional competence, and practical preparer, user or related experience of sustainability disclosures and/or general purpose financial reports. 

The closing date for applications is 20 April 2024.

Please click for more information in the press release on the IFRS Foundation website.

In the webcast, ISSB member Elizabeth Seeger discusses with global investors the main reasons why investors rely on industry-specific information in their analysis and decision-making.

The educational material explains how entities can meet the requirement in IFRS S1 to disclose material information about all sustainability-related risks and opportunities that could reasonably be expected to affect an entity's cash flows, its access to finance or cost of capital over the short, medium or long term. IFRS S1 includes a reference to the SASB standards as a source of guidance for sustainability-related risks and opportunities beyond climate (which is addressed through IFRS S2). 

The educational material states that the SASB standards can be a useful source of guidance in applying IFRS S1 because they:

• are designed to provide investors, creditors and other lenders with information that is decision-useful and comparable with peers;
• are tailored to specific industries, allowing companies to quickly access guidance that is relevant to their business activities; and
• provide guidance on sustainability-related topics beyond climate, including human capital and nature.

Please click for the following on the IFRS Foundation website:

• Press release
• Access to the webcast on the importance of of industry-specific disclosures to investors
• Access to the educational material Using the SASB Standards to meet the requirements in IFRS S1 

The Advisory Council is the formal advisory body to the Trustees, the IASB, and the ISSB. It advises the IFRS Foundation on its strategic direction, technical work plan and priorities.

The Advisory Council currently has more than 50 members with interests in international corporate reporting and diverse functional and geographical backgrounds. They offer a broad range of accounting and sustainability experience. Among the newly appointed organisations is the Pan African Federation of Accountants (PAFA).

Please see the press release on the IFRS Foundation website for more information. A full list of current members is available here.

The following topics are on the agenda:

Supporting implementation of IFRS S1 and IFRS S2: The ISSB will discuss focus areas for educational material that the staff is currently developing to support the implementation of IFRS S1 and IFRS S2. The focus areas for the discussion are: using ISSB standards to prepare sustainability-related financial disclosures; definition of material information; sustainability-related risks and opportunities; and information that is material might change over time.

ISSB consultation on agenda priorities: ISSB members will discuss the staff’s analysis and recommendations on the criteria for assessing the priority of new research and standard-setting projects that could be added to the ISSB’s work plan. The staff recommends proceeding with the list of criteria outlined in the request for information Consultation on Agenda Priorities without amendments or additions.

Our pre-meeting summaries is available on our February meeting notes page and will be supplemented with our popular meeting notes after the meeting.

At the heart of this committee's responsibilities are:

• the development of phase-wise timelines that are both ambitious and attainable;
• crafting recommendations for proforma financial statements and financial disclosures; and
• addressing concerns arising from transition activities.

For additional information, please see the announcement on the IRDAI website.

The full agenda for the meeting is summarised below:

Agenda papers for this meeting are available on the IFRS Foundation's website.