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During 2022 the IFRS Foundation transformed from an organisation with a single
standard-setting board to an organisation with two boards―the International
Accounting Standards Board (IASB) and the new International Sustainability Standards
Board (ISSB). We also announced the consolidation with the Value Reporting
Foundation (VRF) and the Climate Disclosure Standards Board (CDSB).
The ISSB will also open a 90-day consultation on its proposed methodology for
revising the SASB Standards to improve their international applicability. The
project affects approximately 20% of the metrics included in the SASB Standards,
meaning most of the metrics will remain untouched.
Call for members to the IFRS Taxonomy Consultative Group
The group now advises both the IASB and ISSB on their digital taxonomies and related
ITCG members play an important role in reviewing IFRS Taxonomy publications and files
as part of the IFRS Foundation’s due process. Members will also help to develop an
IFRS sustainability disclosure taxonomy.
Developments in the Dynamic Risk Management project
Two new webcasts have been produced to give an update on
developments and tentative decisions that have been made on the current net open
risk position, and the IASB’s redeliberation on the performance assessment.
Q1 2023 IFRS Interpretations Committee podcast
The topics discussed include Definition of a Lease—Substitution
Rights (IFRS 16 Leases) and a question relating to Premiums Receivable from
an Intermediary (IFRS 17 Insurance Contracts and IFRS 9 Financial