ACCA's response to targeted amendments to the IFRS Foundation Constitution

ACCA welcomes the opportunity to provide views in response to the IFRS Foundation’s Exposure Draft, ‘Proposed targeted amendments to the IFRS Foundation to accommodate an International Sustainability Standards Board to set IFRS Sustainability Standards.’ This has been done with the assistance of members of ACCA’s Global Forum for Corporate Reporting.

We support the IFRS Foundation’s stated intention for the new board to have an investor focus on enterprise value. However, the term ‘sustainability standards’ would seem to mispresent this aim, and risks giving confusing messages and unrealistic expectations about the new board. A reference to ‘reporting’ in the name of the standards would seem essential.

To read the response in full, please download the consultation document.