| Accountants can be climate change “activists” |
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The effects of climate change on our everyday lives is undeniable. Why shouldn’t it also affect financial reporting?
Governments, regulators, investors and others are interested in how climate change affects entities, but also entities’ impact on the environment. Reporting on sustainability and climate related issues has been based on a variety of frameworks issued internationally, regionally or locally. The IFRS Foundation agreed to develop internationally recognised sustainability standards through an “International Sustainability Standards Board” or equivalent. The IFRS Foundation is consulting on various issues related to the establishment of the Board, and the scope and due process for the standards.
Despite the lack of consistent guidance, accountants are being asked to consider climate related risks and related issues in the reporting now already. Read this statement from IFAC. |
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