Le Monde du Chiffre | July 29, 2021

IFAC responds to proposed amendments to the constitution of the IFRS Foundation

The International Federation of Accountants (IFAC) has welcomed the proposed amendments to the constitution of the IFRS Foundation, which should allow the future International Sustainability Standards Board (ISSB) to establish IFRS standards for sustainable development.

IFAC believes that, thanks to...

ICMA Pakistan Management Accountant Journal | July 19, 2021
Exclusive Interview with Helen Partridge, Director, Accountancy Education

Accounting Professionals Development & Training

In this exclusive interview for ICMA Pakistan Management Accountant Journal, IFAC's Director of Accountancy Education, Helen Partridge, explains IFAC's approach to assisting the global accounting profession through education.

IFAC Welcomes IFRS Foundation Constitutional Amendments to Establish a New ISSB

English

In The Way Forward roadmap toward a global system for reporting on sustainability-related information, IFAC called on the IFRS Foundation to establish a new International Sustainability Standards Board (ISSB).  Today we reiterate our support. With its independence, good governance, and track record of due process, the IFRS Foundation is uniquely positioned to establish an independent ISSB within existing IFRS governance—comprised of the Monitoring Board, IFRS Foundation Trustees, and IFRS Advisory Council. The proposed multi-stakeholder expert consultative committee will also be crucial to bringing the right stakeholders to the table in support of the standard-setting activities of the new Board.

IFAC’s response strongly supports the four-point strategy put forth in the Trustees’ proposals:

  • The ISSB will have an investor focus on enterprise value
  • The ISSB will prioritize climate-related reporting first
  • The ISSB will build on the work of existing initiatives
  • The ISSB will take a Building Blocks Approach

IFAC CEO Kevin Dancey said, “Agility and flexibility in the organizational arrangements supporting the establishment of the new ISSB are needed for the IFRS Foundation to move with speed—making as much progress as possible in the shortest amount of time, while remaining focused on high-quality outcomes. In our analysis, the proposed amendments appropriately incorporate this imperative, which underlies all other criteria for success. As comments from key global stakeholders come in, it is great to see such widespread and broad support for the ISSB initiative.”

Read more about IFAC’s views.

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.

Urges global accountancy profession support

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