The Malta Institute of Accountants is a member body of the IFRS Foundation.

IFRS Foundation publishes guide for companies as investors call for voluntary application of ISSB Standards

The IFRS Foundation has published Voluntarily applying ISSB Standards—A guide for preparers. The guide aims to support companies as they start to apply International Sustainability Standards Board (ISSB) Standards voluntarily as well as helping them communicate their progress to investors. The guide will be a useful tool for companies, particularly in jurisdictions without regulatory requirements to apply ISSB Standards, including providing guidance on how companies can describe their application of ISSB Standards. The guide is the latest in a series of publications designed to support the implementation of International Financial Reporting Standards (IFRS) S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. Furthermore, when used in tandem with tools such as the ESRS—ISSB Standards Interoperability Guidance, companies can apply ISSB Standards to meet investor demand and regulatory requirements around the world. Read more.

Overview of the ISSB’s two-year work plan

The IFRS Foundation has released a new webcast to discuss the International Sustainability Standards Board’s (ISSB) 2024-2026 work plan and explore recent developments in strategic relationships that further harmonise the sustainability reporting landscape. Read more.

New IFRS Accounting Standard – IFRS 18

The International Accounting Standards Board (IASB) completed its work to improve the usefulness of information presented and disclosed in financial statements. The new Standard, IFRS 18 Presentation and Disclosure in Financial Statements, will give investors more transparent and comparable information about companies’ financial performance, thereby enabling better investment decisions. IFRS 18 is effective for annual reporting periods beginning on or after 1 January 2027, but it can be applied earlier. IFRS 18 replaces IAS 1 Presentation of Financial Statements. Read more.

ISSB publishes its digital sustainability taxonomy, helping investors analyse sustainability disclosures efficiently

The International Sustainability Standards Board (ISSB) has published the IFRS Sustainability Disclosure Taxonomy (ISSB Taxonomy), to enable investors and other capital providers to analyse sustainability-related financial disclosures efficiently. Use of the ISSB Taxonomy by companies will enable investors to search, extract and compare sustainability-related financial disclosures as ISSB establishes its global baseline of Standards. The Taxonomy reflects IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information, IFRS S2 Climate-related Disclosures and their accompanying guidance. Read more.

IFRS Foundation and EFRAG publish Interoperability Guidance

The IFRS Foundation and the European Financial Reporting Advisory Group (EFRAG) have published guidance material to illustrate the high level of alignment achieved between the International Sustainability Standards Board’s IFRS Sustainability Disclosure Standards and the European Sustainability Reporting Standards (ESRS) and how a company can apply both sets of standards, including detailed analysis of the alignment in climate-related disclosures. The document has been designed to reduce complexity, fragmentation and duplication for companies applying both the ISSB Standards and ESRS. Read more.

IFRS Foundation: Harmonising disclosures about transition plans

Globally, disclosures on an entity’s plans to address any targets it has in place to transition to a lower-carbon economy—often called transition plans—are a growing proportion of corporate climate-related disclosures. IFRS S2 requires that information be disclosed if an entity has such a plan. To support application of these disclosure requirements and to reduce fragmentation in information provided in the market, the International Sustainability Standards Board (ISSB) plans to support work to streamline and consolidate frameworks and standards for disclosures about transition plans. Read more.

IFRS Foundation 2024 annual report and financial statements

The IFRS Foundation published the annual report and audited financial statements for 2024, outlining its achievements and providing an organisational review as well as information relating to financial performance. Read more.

IFRS Foundation News

Educational material about using ISSB Industry-based Guidance

The IFRS Foundation published educational material aimed at helping companies understand the role of the International Sustainability Standards Board (ISSB) industry-based guidance when applying IFRS Sustainability Disclosure Standards. Read more.

Near-final examples on reporting uncertainties in the financial statements

The IFRS Foundation released near-final examples demonstrating how companies can apply IFRS Accounting Standards to improve disclosure of uncertainties in the financial statements. Read more.