Roadmap to ESG Reporting and Assurance
Globally, the International Sustainability Standards Board (ISSB) was formed in November 2021 alongside the International Accounting Standards Board (IASB). In a span of mere 20 months later, in June 2023, ISSB issued IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures from financial years commencing in 2023 or 2024,…
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Paul Wan & Co
Effects of Climate-related matters on Financial Statements Reporting (FRS Standards)
Most recently in June 2023, the International Sustainability Standards Board (ISSB) issued IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. Consideration of the ISSB’s Standards may help companies better identify matters, including climate change, that affect the financial statements and help companies apply IFRS or FRS Accounting Standards.…
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Paul Wan & Co
Establishing an Enterprise Risk Management (ERM) Framework
Enterprise risk management (ERM) is a framework for managing organizational risk. Organizational risk is a broad term. It can encompass concerns ranging from ensuring employee safety and securing sensitive data to meeting statutory regulations and stopping financial fraud. Risk can be internal, such as equipment malfunctions, or external, such as natural disasters. What is considered risk varies from one…
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