AICPA & CIMA, which together form the Association of International Certified Professional Accountants, have announced they have become members of the IFRS Foundation’s Partnership Framework and a contributor to the standard-setting organisation’s Knowledge Hub. The two initiatives are designed to raise global awareness about the IFRS Sustainability Disclosure Standards and support implementation of them.

Commenting on this, IFRS Foundation chief of strategic affairs and capacity building, Mardi McBrien, said: “The IFRS Foundation is working in partnership with organisations globally to build market readiness and support companies and other stakeholders with the implementation of IFRS Sustainability Disclosure Standards.

“We welcome AICPA & CIMA partnering with us to build capacity amongst their members.”

The Partnership Framework was formed at COP 27 in late 2022 and is designed to smooth implementation of global sustainability disclosure requirements. More than 35 private and public organisations are part of its network. The Knowledge Hub, launched at COP 28 in late 2023, serves as an online repository for thought leadership, surveys and reports about sustainability disclosure standards.

Last summer, the IFRS Foundation’s International Sustainability Standards Board (ISSB) issued two standards, IFRS S1 and IFRS S2, that are designed to form a global baseline for sustainability disclosure. CPAs and management accountants will play a crucial role in the international implementation of these rules, as well as the European Sustainability Reporting Standards, the state of California’s recent climate risk disclosure rules and the U.S. Securities and Exchange Commission’s eventual rollout of its final climate risk disclosure standards.

AICPA & CIMA global head of sustainability, Jeremy Osborn, concluded: “We’re pleased to work with the IFRS Foundation in highlighting the need for consistent, comparable and high-quality sustainability information for capital markets.”

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