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Suresh Kana: What CFOs should know about the new IFRS sustainability standards

CFO Talks

The new IFRS sustainability standards will impact businesses large and small, says Suresh Kana, trustee and deputy chair of the IFRS Foundation. You cannot produce 130 pages of a report or communication that is just waffle,” Kana explained. “We Kana also notes that IFRS will work on industry-specific standards. “If

IFRS 98
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IFRS 16: How to enable a smooth transition

Future CFO

IFRS 16, published by the International Accounting Standards Board (IABS), came into effect on January 1, 2019. In an effort to boost transparency, IFRS 16 eliminates the distinction between finance leases, which were previously capitalized on corporate balance sheets, and operating leases, which were not.

IFRS 52
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A Fresh Look at Ongoing ESG and Carbon Accounting Developments

Bramasol

From a global perspective, the International Sustainability Standards Board (ISSB), which was established by the IFRS in November 2021 at COP26 in Glasgow, has issued its first two standards. IFRS S1 requires companies to communicate the sustainability risks and opportunities they face over the short, medium, and long term.

IFRS 89
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The Changing Role of CFOs in a Technology-Driven World

Bramasol

The other is the International Accounting Standards Board (IASB), whose rules for financial reporting are known as International Financial Reporting Standards (IFRS). IFRS S1 requires companies to communicate the sustainability risks and opportunities they face over the short, medium, and long term.

IFRS 97
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The future of sustainability reporting in the finance function

Future CFO

Businesses can then calculate product and corporate carbon footprints, transparently communicate, and comprehensively report auditable sustainability data to their key stakeholders. Hasenoehrl points out that this can be supplemented by capturing data such as carbon emissions reliably, at source.

Finance 52
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How the Digital Solutions Economy is Impacting the Medical Devices Industry

Bramasol

The factors that make a relationship like this work are open communication of utilization and outcomes, willingness to share responsibility for quality improvements in products and hospital procedures, and an approach to product and service efficacy—not just a price-based mentality.".

IFRS 78
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Turning challenges into opportunities: being a financial controller in 2024

Future CFO

Unlike IFRS standards that are well-structured and finance practices that allow flexibility based on internal business needs, changing regulatory guidelines has caused ambiguity and anxiety due to the very fluid and subjective interpretations that can lead to material dollar spend for the company.”