Beyond the GAAP - July - August 2022 Issue

The comment period for EFRAG’s public consultation on its first set of 13 draft European Sustainability Reporting Standards (ESRSs) closed on 8 August. EFRAG’s Sustainability Reporting Board, supported by its Technical Expert Group, now has to analyse the more than 750 responses received in order to submit the final version of its draft standards to the European Commission by next November. The EC will then adopt the final standards in June 2023 by means of a Delegated Act. The timetable for implementation by entities will be finalised by the adoption of the CSRD, which is expected by the end of the year.

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.

文件

168-Beyond-the-GAAP-July-August-2022.pdf
168-Index.pdf