That revolution is being led by the IFRS Foundation, the body that oversees the work of the International Accounting Standards Board (IASB) in setting financial reporting requirements for most companies in the world, across more than 140 jurisdictions. (In the U.S., these requirements are set by the Financial Accounting Standards Board, or FASB).
This past September, the IFRS Foundation proposed the creation of a parallel Sustainability Standards Board (SSB).”
[COMMENTARY] Now that ESG is mainstream, it’s about time that the accountancy organizations got involved in creating universal accounting standards for companies’ ESG reporting.
The Future of ESG Is … Accounting? By Richard Barker, University of Oxford, December 3, 2020, Harvard Business Review, USA.