7 October 2020To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON IFRS FOUNDATION CONSULTATION PAPERConsultation Paper on Sustainability ReportingComments to be received by 30 November 2020The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute ofCertified Public Accountants (Institute) is seeking comments on the IFRS FoundationConsultation Paper on Sustainability Reporting (Consultation Paper). The ConsultationPaper is available on the Institute's website:
http://www.hkicpa.org.hk/en/standards-and-regulations/standards/financial-reporting/exposure-drafts/.The IFRS Foundation Trustees have noted, through engagement with a cross section ofstakeholders, that sustainability reporting is continuing to increase in importance. Amid thisheightened focus on environmental, social and governance (ESG) matters, developmentsin sustainability reporting and increased calls for standardisation of such reporting, theTrustees are now seeking inputs on the need for global sustainability standards, andgauging support for the Foundation to play a role in the development of such standards.The Consultation Paper sets out possible ways the Foundation might contribute to thedevelopment of global sustainability standards by broadening its current remit beyond thedevelopment of financial reporting standards, and leveraging its experience in internationalstandard-setting, well-established and supported standard-setting processes, andgovernance structure.One possible option is for the Foundation to create a new Sustainability Standards Board.The Consultation Paper sets out critical success factors for the creation of such a newstandard-setter, the proposed governance structure and its placement alongside theInternational Accounting Standards Board, its relationship with other institutions andinitiatives, and its scope.The FRSC invites your comments on the proposal as set out in the Consultation Paper by30 November 2020 to allow your comments to be considered in developing its response tothe IFRS Foundation. Comments should be submitted in written form.Comments may be sent by mail, fax or e-mail to:
Standard Setting DepartmentHong Kong Institute of Certified Public Accountants37th Floor, Wu Chung House213 Queen’s Road EastWanchai, Hong KongFax number (+852) 2865 6776E-mail: commentletters@hkicpa.org.hkComments will be acknowledged and may be made available for public review unlessotherwise requested by the respondent.
Invitation to Comment on IFRS Foundation Consultation Paper on Sustainability Reporting
下载原件7 October 2020To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON IFRS FOUNDATION CONSULTATION PAPERConsultation Paper on Sustainability ReportingComments to be received by 30 November 2020The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute ofCertified Public Accountants (Institute) is seeking comments on the IFRS FoundationConsultation Paper on Sustainability Reporting (Consultation Paper). The ConsultationPaper is available on the Institute's website:
http://www.hkicpa.org.hk/en/standards-and-regulations/standards/financial-reporting/exposure-drafts/.The IFRS Foundation Trustees have noted, through engagement with a cross section ofstakeholders, that sustainability reporting is continuing to increase in importance. Amid thisheightened focus on environmental, social and governance (ESG) matters, developmentsin sustainability reporting and increased calls for standardisation of such reporting, theTrustees are now seeking inputs on the need for global sustainability standards, andgauging support for the Foundation to play a role in the development of such standards.The Consultation Paper sets out possible ways the Foundation might contribute to thedevelopment of global sustainability standards by broadening its current remit beyond thedevelopment of financial reporting standards, and leveraging its experience in internationalstandard-setting, well-established and supported standard-setting processes, andgovernance structure.One possible option is for the Foundation to create a new Sustainability Standards Board.The Consultation Paper sets out critical success factors for the creation of such a newstandard-setter, the proposed governance structure and its placement alongside theInternational Accounting Standards Board, its relationship with other institutions andinitiatives, and its scope.The FRSC invites your comments on the proposal as set out in the Consultation Paper by30 November 2020 to allow your comments to be considered in developing its response tothe IFRS Foundation. Comments should be submitted in written form.Comments may be sent by mail, fax or e-mail to:
Standard Setting DepartmentHong Kong Institute of Certified Public Accountants37th Floor, Wu Chung House213 Queen’s Road EastWanchai, Hong KongFax number (+852) 2865 6776E-mail: commentletters@hkicpa.org.hkComments will be acknowledged and may be made available for public review unlessotherwise requested by the respondent.