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The inaugural IFRS Sustainability Symposium convenes global businesses, investors and policymakers to discuss progress towards a global baseline of sustainability disclosures to inform investment decisions.
The current sustainability reporting and assurance landscape is rapidly evolving, with important stakeholders showing an increased interest in sustainability-related corporate reporting information. Trust in such reporting is a key issue for many stakeholders, in particular investors who are increasingly using this information for capital allocation and other decisions.
Assurance over sustainability-related information is not something new; however, the importance placed on the reliability of such information is radically increasing, suggesting that a new era of sustainability reporting and assurance is emerging.
Board Agenda
New globally accepted standards aim to improve investor confidence and “reduce the risk of material misstatements”.
The International Auditing and Assurance Standards Board (IAASB) has published a public consultation for its 2024-27 proposed strategy and work plan, with it wishing to develop an overarching standard for assurance on sustainability reporting.
ESG Investor
Tom Seidenstein seems drawn to challenges. Before becoming chairperson of the International Auditing and Assurance Standards Board (IAASB) he worked at Fannie Mae. An institution at the heart of the global financial crisis.
“A key theme from IAASB, to Fannie Mae, to the role I played at the IFRS Foundation from its founding to 2011 - is this idea of efficient markets. They require high-quality reporting supported by assurance and audit so that capital is allocated efficiently and increasingly with the eye towards greater sustainability.”
Read the full article on the Accounting Weekly website (Compliance Week subscription requried).
Accounting Weekly
The IESBA is committed to monitor technology developments through a four-pillar approach. This consists of:
The IESBA is committed to developing revisions to the Code to address the specific ethics and independence issues that might arise when experts work alongside professional accountants (PAs) in business (PAIBs) and in public practice (PAPPs), including in tax planning, technology-related activities and sustainability reporting and assurance. The objectives of the projects are to address: