IFRS Foundation’s World Standard-setters Conference 2022: a summary
Delegates from national and regional accounting standard-setters around the world came
together in person for the first time since 2019, to Canary Wharf, London, for the IFRS
Foundation’s 2022 World Standard-setters Conference on 26-27 September.
It was also the first time that the Conference heard updates from both the International
Accounting Standards Board (IASB) and the International Sustainability Standards Board
More than 100 delegates from 60 organisations attended in person and online.
progress in projects including Business Combinations under Common
Control, Goodwill and Impairment, Financial Instruments with
Characteristics of Equity, Dynamic Risk Management and Lease Liability
in Sale and Leaseback; and
the role and learning process around post-implementation reviews.
He gave an update on the significant progress that has been made both at an
institutional level and in the technical work.
All 14 ISSB members have been appointed, creating a highly qualified standard-setting
board with a blend of professional expertise and from a range of geographies,
enabling the board to consider decisions from multiple angles.
He highlighted the importance of working with national and regional standard-setters
and how the ISSB is working with jurisdictions to ensure its Standards are
interoperable with jurisdiction-specific requirements.
He said that the ISSB’s aim is to complete its discussions on the feedback to its
consultation on the first two proposed IFRS Sustainability Disclosure Standards,
with the view to issue the final Standards for adoption as early as possible in
This project proposes to improve how information is communicated in the financial
statements, with a focus on information in the statement of profit or loss.
The details of each proposal were delved into. The main proposals are additional
defined subtotals in the profit or loss statement, disclosures on Management
Performance Measures and strengthening requirements for disaggregating
Outreach activities are also going to take place to see if the proposals will work in
practice with stakeholders.
Feedback on the proposed IFRS Sustainability Disclosures Standards
The ISSB received more than 1,400 comment letters to its consultation and has
undertaken more than 400 outreach meetings during the consultation period. The
feedback to the consultation shows there is widespread interest in the ISSB’s work
and broad support for its proposals.