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IPSASB: Draft Climate-related Disclosures Standard
- 07 November 2024
- Sustainability Reporting
- South African Accounting Academy
Summary:
The International Public Sector Accounting Standards Board (IPSASB) has released their ground-breaking, world’s first climate-related disclosure standard for governments around the world.
Article:
This inaugural Sustainability Reporting Standards Exposure Draft (SRS ED) 1, Climate-related Disclosures proposes disclosure requirements for public sector entities to report on:
- the climate-related risks and opportunities to its own operations and
- climate-related public policy programs and their outcomes,
that are useful for primary users of general purpose financial reports to support decision-making and accountability.
These proposals align public sector reporting with global best practices, building on other international sustainability standards, while addressing the unique differences and information needs of primary users of public sector reports. This leads to more consistent, comparable and verifiable information across sectors to enable better decision-making and accountability, and maintaining access to funding needed for development, including from capital markets.
Access the At a Glance 9-page summary at https://ifacweb.blob.core.windows.net/publicfiles/2024-10/IPSASB-SRS-ED-1-AAG.pdf
Comments on the Exposure Draft are requested by 28 February 2025.
Click here to download the document:
https://ifacweb.blob.core.windows.net/publicfiles/2024-10/SRS-ED-1-Climate-Related-Disclosures.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
- It is important to stay informed on publications issued by the regulators and standard-setters, e.g. IFAC & IPSASB.
- This ED focuses on the disclosure requirements for public sector entities to report on climate related issues.
Relevance to Your Clients:
- It is important to stay informed on publications issued by the regulators and standard-setters, e.g. IFAC & IPSASB.
- This ED focuses on the disclosure requirements for public sector entities to report on climate related issues.