The IAASB is currently working on a narrow scope maintenance of standards project on listed entity and PIE that addresses the IAASB’s actions in respect of recent revisions to the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code) as a result of IESBA’s project on the definitions of listed entity and PIE.
* Post-Event Materials *
Click here to watch a recording of this webinar.
Below is the slide deck, including two slides with hyperlinked resources for the audience (slides 27 and 28) and updated with recommendations from the panel.
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The report was drawn from the IFAC Index, which captures current and future use of public financial reporting bases and frameworks by governments around the world. The index found that while 30% of governments report on an accrual basis in 2020 (an increase of 6% since 2018), 50% will report on...
The International Federation of Accountants (IFAC), which comprises 180 member and associate organizations and represents over 3 million professional accountants globally, continues its work in support of a global system for delivering consistent, comparable and assurable sustainability information.
In its response to the U.S. Securities Exchange Commission’s (SEC) recent request for public input on climate change disclosures, IFAC emphasized the needs of investors and other stakeholders for climate and other sustainability-related information to be high-quality, decision-useful, and trusted.
A Building Blocks Approach provides the architecture for a global system that enables comprehensive corporate reporting for capital markets, while also addressing specific public policy initiatives like climate action and other jurisdiction-specific issues. IFAC believes that the IFRS Foundation’s initiative to establish a new International Sustainability Standards Board is a critical component of creating a global baseline of investor-focused reporting requirements. The IFRS Foundation’s ongoing work focused on climate disclosure will benefit all jurisdictions who are taking steps to address the urgency of climate change.
IFAC CEO Kevin Dancy said, “The U.S. and the SEC have played a critical role in the development of IFRS Standards for financial reporting, including convergence between the FASB and IASB and permitting foreign SEC registrants to use IFRS Standards to meet their U.S. reporting requirements. Today, as policymakers consider the best way forward for crafting an emerging global system for sustainability-related reporting, U.S. support is more important than ever. As the SEC explores climate-change related disclosure, IFAC urges the Commission to support a global approach.”
See IFAC’s response to the SEC on the IFAC website.
About IFAC
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.
“Building Blocks” Approach Addresses Informational Needs of Global Capital Markets as well as Country-Specific Requirements
This Working Group Briefing Paper has been prepared by the IESBA Technology Working Group.
The ongoing COVID-19 pandemic and the climate crisis show how interdependent Europe and Africa are, and why it is important that both continents act together to seize shared opportunities and tackle common challenges. Africa and Europe have a shared interest in accelerating the progress of the global agenda for sustainable development, fuelled by the need to rethink a common future.
The COVID-19 pandemic has wreaked havoc on our societies and economies. While there will be many long-lasting impacts of the pandemic – the impact on gender equality is particularly troubling. Women have fallen out of the paid economy at faster rates than men, domestic violence rates are on the rise and UN Women predicts that 47 million more women will fall into extreme poverty as a result of the pandemic.
The International Federation of Accountants (IFAC) and the World Bank invite you to attend the virtual event "PAO Digital Transformation for Results."
