Accounting Standards Board Newsletter #4 - April 2023
In this edition of the Newsletter:
Update on sustainability reporting in the public sector
Update on sustainability reporting in the public sector
The IPSASB agreed in December 2022 to advance sustainability reporting in the public sector. It agreed to research and scope three potential public sector specific sustainability reporting projects while it secures the resources to start developing the guidance.
The IPSASB discussed findings from their research and scoping activities in March 2023 and agreed to focus on climate related disclosures. This decision was based on the limited resources available at present and the emphasis placed by stakeholders on this topic during the consultation with them late last year.
While the IPSASB starts its journey to develop guidance on sustainability reporting, the International Sustainability Standards Board (ISSB) is likely to issue the first two International Sustainability Standards in June 2023. The two IFRS Sustainability Standards will outline general requirements for sustainability reporting, and climate related disclosures.
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The article has been prepared by the Secretariat of the ASB for information purposes only. It has not been reviewed, approved, or otherwise acted on by the Board.
