Australian Government
Australian Accounting Standards Board
Wednesday, December 15, 2021
This joint staff article provides an overview of the Australian perspective on recent global sustainability-related developments and the considerations for what approach the AASB and AUASB may take in response to those developments.
In response to the growing global demand for high-quality, transparent, reliable and comparable reporting of sustainability-related information by entities, the IFRS Foundation established the International Sustainability Standards Board (ISSB) on 3 November 2021. This article provides an overview of the Australian perspective on recent global sustainability-related developments and the considerations for what approach the AASB and AUASB—collectively referred to as the Boards—may take in response to those developments.
The Boards intend to consider the work of the ISSB and other leading international frameworks and initiatives as we move towards developing sustainability-related reporting requirements in Australia. In particular, the Boards are taking active steps to help ensure that Australia adopts reporting requirements that meet the needs of users of financial and other related information and supports Australia’s role in the international sustainability reporting environment.
Read more here.