ISSB’s future work plan: potential project on integrated reporting
The ISSB’s discussions in March focused on the content of the request for information (hereafter RFI) on the Board’s two-year work plan. The RFI is scheduled to be launched in the second quarter of 2023.
Keywords: Mazars, Thailand, Sustainability, ISSB, IASB
12 May 2023
Readers will remember that the ISSB had already (tentatively) identified connectivity in reporting as one of the topics for further consultation, as a joint project with the IASB. At this month’s meeting, the ISSB reached the following key decisions, which will be incorporated into the RFI:
- to expand the scope of the project to (i) cover “integration in reporting” and (ii) consider integrated disclosures beyond the requirements on connected information set out in IFRS S1 and IFRS S2;
- to include a discussion of the said requirements in IFRS S1 and IFRS S2 to provide context for this new approach;
- to present this as a potential ISSB’s project, with the option of carrying it out jointly with the IASB (rather than presenting it as a formal joint project);
- to phrase the questions in such a way as to collect feedback on how the project on integration in reporting should be carried out.
Discussions will continue in April and will focus on the consultation due process, with a view to reaching an agreement on (i) the length of the comment period and (ii) the publication date of the RFI.
At its March meeting, the ISSB also discussed (but did not reach any decisions on) the process for maintaining, enhancing and improving the SASB standards, including the work related to their international applicability. An exposure draft on this topic is scheduled for publication in May 2023.
Readers will remember that the SASB is a US-based non-profit organisation that has now been consolidated into the IFRS Foundation. In the course of its redeliberations on the draft IFRS S1 and IFRS S2 standards, the ISSB tentatively decided to present the SASB standards as illustrative guidance, rather than a mandatory appendix, and to work on improving the applicability of the industry-specific requirements to all jurisdictions.
For more information, see the 16 March ISSB Update, available here
Want to know more?