Navigating the Latest in Global Accounting and Sustainability Reporting: IFRS & ISSB Updates – January 2024
In January 2024, the International Financial Reporting Standards (IFRS) and the International Sustainability Standards Board (ISSB) introduced significant developments poised to reshape corporate reporting worldwide. These updates are especially relevant as businesses face growing pressure to enhance transparency around sustainability and financial disclosures. From new climate-related disclosure standards (IFRS S1 and S2) to amendments improving the global applicability of SASB Standards, this quarterly update reflects a global shift toward unified, investor-focused reporting frameworks.
Key highlights include multilateral support from development banks at COP28, the launch of an IFRS Sustainability Knowledge Hub, and collaborative efforts between the IFRS Foundation and ISO. Additionally, the IASB has proposed updates to IAS 32 to better distinguish between debt and equity instruments, addressing evolving financial instruments and investor demands for clarity.
This roundup is essential reading for finance professionals, sustainability officers, auditors, and stakeholders seeking to align with global best practices.
