Governance | Reporting |
New IFAC Online Resource; Support for New ISSBBy
The International Federation of Accountants (IFAC) unveiled a new online resource in November 2021.
It provides access to the international accounting standards developed by the International Audit and Assurance Standards Board, the International Ethics Standards Board for Accountants, and the International Public Sector Accounting Standards Board.
The new resource, eIS (e-International Standards), not only offers direct access to the standards but also includes key support, reference, and guidance materials, including a seven-minute video tour about how to use the standards.
eIS features a responsive design that can be used on mobile, tablet, and desktop formats; advanced and intuitive search capabilities; version control functionality; and easy-to-navigate pages with multiple viewing modes, among other features. The resource is free, but a sign-in is required.
The same month, IFAC also pledged its support of the newly established International Sustainability Standards Board (ISSB) which will work in close cooperation with the International Accounting Standards Board. Among the ISSB’s primary purposes will be to build upon the high-quality work of existing sustainability-related initiatives and harmonize the standard-setting landscape. The goal will be to create a comprehensive global baseline of sustainability information that will be material to enterprise value, connected to financial reporting through fundamental concepts, and provide guiding principles of integrated reporting.