Targeted amendments proposed by the International Accounting Standards Board are designed to provide more information about the effects of supplier finance arrangements on a company’s liabilities and cash flows.
The proposal would require companies to report information to help investors assess whether noncurrent liabilities with covenants could become repayable within 12 months.
The newly announced International Sustainability Standards Board may have standards ready to publish in the second half of next year. Prototypes offer a look at what might be included in the proposed and final standards.
The question of what is material and how materiality is assessed is undergoing a major transformation. Now is the time to understand how changes will influence reporting standards.
Jeremy Osborn, FCMA, CGMA, director of business relationships and networks with the Value Reporting Foundation, suggests that integrated thinking and reporting can help corporate boards create long-term value, particularly when they consider potential consequences of climate change as they devise business strategy.
The Association of International Certified Professional Accountants, representing AICPA & CIMA, responded to the IFRS Foundation in support of the Foundation’s proposed amendments to its constitution to create an International Sustainability Standards Board.
