29/11/2023 - Report with key messages from the September 2023 IFASS meeting available
A report with the key messages and points of discussion from the financial and sustainability reporting topics covered at the September 2023 IFASS (International Forum of Accounting Standard Setters) meeting has been issued.
Read the report here.
On 26-27 September 2023, IFASS held a meeting in London, UK that was hosted by the IFRS Foundation and chaired by EFRAG SR TEG Chair, Chiara Del Prete. At the meeting, the following financial and sustainability reporting topics were presented and discussed by IFASS participants:
- Climate-related risks in the financial statements (presentations by AASB, UKEB and IASB; and a break-out discussion on IASB project decisions);
- Cash flow reporting (presentations by AcSB and EFRAG);
- INPAG update – Exposure Draft 2 (presentation by CIPFA);
- IPSASB update (presentation by IPSASB);
- Accounting for carbon offsets and credits ((presentations by AcSB and GLASS);
- PIR IFRS 15 (a panel discussion involving AOSSG, GLASS, OIC, PAFA and NZ XRB);
- NZ research - Meeting users' needs, recognition and disclosure of intangibles (presentation by NZ XRB);
- Hyperinflation (presentation by GLASS);
- Connectivity between financial and sustainability reporting (presentation by UKEB);
- ISSB consultation on Agenda Priorities and perspectives on interoperability (a panel discussion involving DRSC, EFRAG, ISSB, KSSB, SSBJ and UK FRC);
- OECD presentation on sustainability reporting matters; and
- Sustainability reporting implementation issues, capacity building, and implementation guidance (a panel discussion involving EFRAG, ICAI, NZ XRB, PAFA, UK Department for Business and Trade and AASB).
The report with key messages and points of discussion on the above topics has been issued and is available here.
The next IFASS meeting will be held on 17-19 April 2024 (in-person meeting to be held in Seoul, South Korea).
