Each quarter, we provide a summary of newly effective and forthcoming standards as well as other significant accounting and financial reporting developments. This edition covers current developments in the quarter ended on June 30, 2023.
Many companies are continuing to face a variety of uncertainites resulting from the macroeconomic environment. However, Sustainability matters, including climate-related risks, continue to top the list of priorities for investors and other stakeholders with greater focus on consistency of information across the annual report. Our latest IFRS Today webpage includes podcasts and articles where we cover emission schemes, net-zero commitments, climate related matters and other changes in the financial reporting landscape that are relevant for all companies.
On June 26, 2023, the International Sustainability Standards Board (ISSB) issued its first two IFRS® Sustainability Disclosure Standards. These standards will have a significant impact on companies across all sectors and mark the next step towards equal prominence for sustainability and financial reporting. We recommend leveraging our dedicated Sustainability reporting resource centre, which features a range of high-level visual overviews, video blogs, articles and analysis to help companies get ready for the new standards.
Refer to our financial reporting resource centres that are designed to help companies prepare financial statements: Financial reporting in uncertain times resource centre which features a range of articles, blogs and podcasts to explore the potential accounting and disclosure implications, and Climate change financial reporting resource centre which provides additional resources to help you identify the potential financial statement impacts for your business of climate-related risks and opportunities.
A number of new requirements are effective from January 1, 2023. Further information on these new requirements is provided in the section Requirements effective in 2023.
Refer to our Guides to financial statements – which includes an update to interim financial statements for disclosure requirements effective in 2023.