The IFRS Foundation is consulting on amending its constitution to create an International Sustainability Standards Board (ISSB) on a similar basis to its International Accounting Standards Board (IASB). ISSB is planned to start work on standards relating to climate change, with the support of decisions made at the COP26 Climate Conference in November. It will also issue standards for other ESG issues which are likely to be material to company enterprise value. Companies, auditors and report users will need prepare for this significant change in corporate reporting.
Ashley Alder will present on the need for the ISSB and how IOSCO is supporting its creation. He will also cover how Hong Kong’s Cross Agency Steering Group on Green and Sustainable Finance is prepare for the application of its standards in Hong Kong.
Teresa Ko will describe the process the IFRS Foundation is following to set up the ISSB.
The panel will then discuss the following points:
- What are the key issues which remain to be decided before the ISSB can start work?
- What will reporting companies and their auditors need to do prepare for reporting in accordance with ISSB standards?
They will also take questions from the audience.
HKGFA is a supporting organization for the event.