Mazars Corporate risk and reporting newsletter – October 2023
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Corporate risk & reporting newsletter - Oct 2023
Welcome to the Mazars Corporate risk and reporting newsletter.
We kickstart this edition with a number of essential financial reporting updates impacting the December 2023 reporting season. These updates include an overview of recent comments from ASIC commissioner Danielle Press regarding their oversight of market integrity through the proactive supervision and enforcement of governance, transparency, and disclosure standards in relation to sustainable finance.
We kickstart this edition with a number of essential financial reporting updates impacting the December 2023 reporting season. These updates include an overview of recent comments from ASIC commissioner Danielle Press regarding their oversight of market integrity through the proactive supervision and enforcement of governance, transparency, and disclosure standards in relation to sustainable finance.
This edition also explores recent updates in sustainability reporting, compliance, as well as a reflection on the vital importance of adhering to the ethics code for professional accountants.
Key highlights in our October edition include:
Financial reporting
- ASIC review elicits risk disclosures
- ASIC collects more than $700,000 in financial reporting fines
- Stakeholders’ perspectives on crypto-assets accounting
Sustainability reporting
- IOSCO endorses the ISSB’s sustainability-related financial disclosures
- IFRS S2 and TCFD compared
- How climate affects financial statements
- AUASB seeks feedback on sustainability assurance standard
- Canberra releases paper on climate disclosures
- ACCC publishes draft paper on environment claims
- UK FRC examines climate-related disclosures
Regulators
- Security stocktake exposes gaps
- APRA finalises remuneration disclosures
- Feds seek feedback on MIS framework
- APRA finalises operational-risks standard
- APRA publishes investment governance guidance
Compliance
- Poor corporate reporting uncovered
- ASIC calls on licensees to strengthen remediation procedures
Ethics
- Importance of ethics code
