News
Updated IASB and ISSB work plan — Analysis (May 2024)
Following the IASB and ISSB meetings this month, we have analysed the work plan on the IFRS Foundation website to see what changes have resulted from the meetings and other developments since the work plan was last revised in April 2024.
Major economies advance towards unified sustainability standards
During the IOSCO annual meeting in Athens, the IFRS Foundation unveiled its inaugural Jurisdiction Guide to assist regulators in implementing the ISSB Standards. The guide aims to help jurisdictions navigate their adoption or alignment processes, ensuring consistent and comparable sustainability-related disclosures across markets.
ESMA publishes 29th enforcement decisions report
The European Securities and Markets Authority (ESMA) has published further extracts from its confidential database of enforcement decisions taken by European national enforcers. This batch deals with decisions in relation to IAS 28, IAS 24, IAS 34/IAS36/IFRS13, IFRS 9, and IFRS 13.
G7 Finance Ministers and Central Bank Governors call for global interoperability of sustainability reporting standards
The Finance Ministers and Central Bank Governors of the G7 met in Stresa, Italy on 23-25 May 2024. In their final communiqué they note the role of sustainability reporting for the green transition.
IFRS Foundation Trustees seek new Advisory Council Chair and members
The Trustees of the IFRS Foundation are seeking eight new members and a new Chair for the IFRS Advisory Council. The positions are for a three-year appointment beginning on 1 January 2025 for the new members and on 1 February 2025 for the new Chair.
Agenda for the May 2024 DPOC meeting
The Due Process Oversight Committee (DPOC) will meet on 29 May 2024 via video conference.
IASB Chair discusses connectivity
IASB Chair Andreas Barckow delivered a keynote address at the European Accounting Association (EAA) Annual Congress and spoke about the emerging priority of connectivity, the limitations of financial statements, and the risen significance of other reporting.
IFRS Foundation and GRI aim to deliver full interoperability between ISSB and GRI standards
The IFRS Foundation and the Global Reporting Initiative (GRI) have announced that they will work together to optimise how ISSB and GRI standards can be used together to facilitate reporting on an entity's impacts, risks and opportunities, including risks that arise from the entity's impacts.
IFRS Foundation proposes update to IFRS Taxonomy 2024
The IFRS Foundation has issued a proposed IFRS Taxonomy Update, 'IFRS Accounting Taxonomy 2024 — Proposed Update 1 'IFRS 18 'Presentation and Disclosure in Financial Statements''.
120 signatories call for commitment from jurisdictions to adopt the ISSB standards
120 investors, companies, industry associations and stock exchanges have signed a call for commitment from relevant authorities across jurisdictions to adopt the ISSB standards. The endorsed statement was developed jointly by the London Stock Exchange Group (LSEG), the Principles for Responsible Investment (PRI), the United Nations Sustainable Stock Exchanges initiative (UN SSE) and the World Business Council for Sustainable Development (WBCSD).
May 2024 ISSB meeting notes posted
The ISSB met on 16 May 2024 in Montreal. We have posted our comprehensive Deloitte observer notes for the project discussed during the meeting.
ISSB publishes webcasts on current and anticipated effects
The International Sustainability Standards Board (ISSB) has published two webcasts on the disclosure requirements related to current and anticipated effects of sustainability-related risks and opportunities on an entity's financial position, financial performance and cash flows.
IASB webcast on power purchase agreements
The IASB has released a webcast on its exposure draft IASB/ED/2024/3 'Contracts for Renewable Electricity (Proposed amendments to IFRS 9 and IFRS 7)'.
Recording of the first IASB webinar on IFRS 18 implementation
On 16 May 2024, the IASB offered the first of a series of live webinars aimed at facilitating a comprehensive understanding of the recently issued IFRS 18 'Presentation and Disclosure in Financial Statements'.
ISSB issues podcast on latest developments (May 2024)
The International Sustainability Standards Board (ISSB) has released a podcast hosted by ISSB Chair Emmanuel Faber and ISSB Vice-Chair Sue Lloyd discussing the latest developments around the ISSB.
Summary of the April 2024 SCC meeting
The Sustainability Consultative Committe (SCC) met via video conference call on 29 April 2024. A summary of the meeting is now available.
IFRS Foundation to launch webcast series on sustainability disclosures
The IFRS Foundation has announced a new webcast series titled 'Perspectives on sustainability disclosure' with the first webinar to take place on 30 May 2024.
Summary of the March 2024 DPOC meeting
The Due Process Oversight Committee (DPOC) met via video conference call on 21 March 2024. A summary of the meeting is now available.
SEC publishes statement on the application of IFRS 19
The US Securities and Exchange Commission (SEC) has published a statement setting out that when financial statements that apply IFRS 19 'Subsidiaries without Public Accountability: Disclosures' are included in SEC filings, these likely need to be supplemented with additional disclosures.
Pre-meeting summaries for the May 2024 IASB meeting
The IASB will meet in London on 20 and 22 May 2024. We have posted our pre-meeting summaries for the meeting that allow you to follow the IASB’s decision making more closely. We summarised the agenda papers made available by the IASB staff and point out the main issues to be discussed by the IASB and the staff recommendations.