Beyond the GAAP - July - August 2022 Issue

Meanwhile, just a few months after its creation at COP26, the International Sustainability Standards Board (ISSB) held its first meeting in Frankfurt on 20 and 21 July. While the ISSB has not yet taken any decisions, it reviewed the first comments received in the public consultation on its two draft IFRS Sustainability Disclosure Standards, although the comment period did not close until 29 July. Over the coming months, the Board will likewise face the significant challenge of finalising its first two standards, with more than 1,400 comment letters received in total. With so much standard-setting activity going on at the European and international levels, one of the key issues for stakeholders will be interoperability between the two sets of standards.