Transition Plan Taskforce’s Post

🌍Deep Dive into Sector-Specific #TransitionPlans! As the Transition Plan Taskforce (TPT) finalizes its work by October, our 7x Sector Deep Dives will now be available on the IFRS Foundation Knowledge Hub. These detailed reports provide sector-specific guidance, helping companies tailor their transition plans to their industries' unique challenges. Learn more: https://lnkd.in/dEciF8Rw

Is proportionality in conflict with comparability? // New webcast: Proportionality mechanisms in IFRS Sustainability Disclosure Standards

ESG in Financial Services (Regulatory Standards): What is IFRS S1?   If you've ever worked with banks or insurers (particularly in accounting), there's no way around having heard about IFRS 9 or IFRS 17 and the International Accounting Standards Board (IASB). But did you also know that in 2021 the IFRS Foundation created the International Sustainability Standards Board (ISSB) which focuses on sustainability-related disclosure standards?   To date, the ISSB's major releases are IFRS S1 and IFRS S2. Since my intention was to learn from and with y'all, check out my summary of the S1 essentials (which will be followed by a structural overview of S1 next week). Looking forward to hearing about your thoughts on and experiences with IFRS S1 so far! #ESG #Sustainability #FinancialServices #Reporting #Disclosures X1F ADWEKO | PART OF X1F

Implementing IFRS 18 Presentation and Disclosure in Financial Statements in 2027 may seem far off today, and you may feel there are other, more pressing developments to follow, such as sustainability reporting under CSRD. However, IFRS 18 will affect multiple aspects of your company's performance reporting, including even the way management defines its "non-IFRS" performance measures, its new disclosure requirements may be onerous to apply, and having to apply it together with other new requirements may leave your company much less time than you might think today. The IASB is therefore broadcasting a series of English-language, subscribers-only webcasts on the most important aspects of the new standard, allowing interested parties to gain an understanding of IFRS 18's requirements "from the horse's mouth".

KPMG's practical guide to IFRS Accounting Standards is out now

#IFRS_S1 #IFRS_S2 #CPD #Sustainability #Reporting Participated in the session by iota Consulting BD on IFRS S1: General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2: IFRS S2 Climate-related Disclosures. The International Financial Reporting Standards (IFRS) Foundation has established the International Sustainability Standards Board (ISSB) to address the urgent need for a single set of globally accepted sustainability reporting standards that are integrated, consistent and comparable with financial reporting standards. IFRS S1 and IFRS S2 are the first two IFRS Sustainability Disclosure Standards developed by the ISSB. The main objective of IFRS S1 is to disclose all information about sustainability-related risks and opportunities and IFRS S2 sets out disclosure requirements for climate-related financial risks and opportunities which fully incorporate the recommendations of the TCFD that could reasonably be expected to affect a company’s prospects.

This edition of our quarterly newsletter provides essential updates and practical insight across accounting and sustainability reporting matters. It covers significant topics including amendments to address common accounting challenges, updates to pillar two top-up tax guide, digital guide concerning impact of climate related matters on impairment, handbook on comparison of IFRS to US GAAP, IFRIC discussions on identifying hyper-inflationary economies, IFRS podcast on areas of focus for 2024 year-ends, essential guides to disclosures for banks, insurers and Investment funds and proposals to amend IAS 37. On the sustainability front, ISSB has issued guidance on making materiality judgements, update on implementation of IFRS sustainability disclosure standards and there are latest insights and guidance by ESRS Foundations. #kpmginpakistan #accounting #sustainabilityreporting #newsletter #mesac #pakistan #kpmg

🌱 Introducing the latest updates on IFRS S1 and IFRS S2! 🌍 The IFRS S1 standards focus on the disclosure of sustainability-related financial information, while IFRS S2 specifically addresses climate-related disclosures. These standards, issued by the ISSB in June 2023, mark a significant milestone as the first IFRS sustainability disclosure standards. IFRS S1 outlines the general requirements for comprehensive sustainability-related financial disclosures, working hand in hand with IFRS S2, which delves into climate-related disclosures. The updated June 2024 edition utilizes practical examples to demonstrate how organizations can effectively disclose information in line with ISSB standards. Stay informed and learn how these standards can shape the future of financial reporting and sustainability practices. Embrace transparency and accountability with the latest guidance from the International Sustainability Standards Board (ISSB) #IFRS #SustainabilityReporting #ClimateDisclosures #ISSB #FinancialReporting #Transparency #Accountability 🌿📊

“This progress report underscores the significant and encouraging progress in disclosure of climate-related information.” – Emmanuel Faber, International Sustainability Standards Board (ISSB) Chair and #BTeam Leader. Continued global progress on climate-related disclosures is needed to ensure investors are able “to assess and price appropriately climate and other sustainability-related risks and opportunities.” Read the full report 👇

"To assist companies applying a climate-first approach using ISSB Standards, Table 1 provides a description of the requirements in IFRS S1 that are applicable when reporting on climate-related risks and opportunities in accordance with IFRS S2".