Climate change

The International Public Sector Accounting Standards Board released a standard to help entities consistently report climate-related risks and opportunities.

The examples show how companies can improve the reporting of uncertainties in their financial statements using climate-related examples as practical illustrations.

Auditors selected and paid by the companies they inspect can't affirm the credibility of the projects they assess, according to a research paper.

The International Accounting Standards Board and its parent, the IFRS Foundation, released guidance on management commentary and climate disclosures.

The International Financial Reporting Standards Foundation has posted profiles of 17 of the 36 jurisdictions that have either adopted or used the disclosures.

Extreme weather events like wildfires and hurricanes could drop corporate earnings up to 7.3% by 2035, KPMG's 2025 Futures Report found.

Billions of dollars allocated under former President Biden's Inflation Reduction Act would be rescinded under a portion of Trump's sweeping tax package.

The Securities and Exchange Commission voted to end its defense of the climate-related disclosure rule it approved last year under the Biden administration.

The CPA organizations sent a joint comment letter to the California Air Resources Board asking for changes in the state's climate risk disclosure rules.

The Institute of Management Accountants released a report on why business sustainability depends on the competencies of management accountants.

The Carbon Disclosure Project and the Global Reporting Initiative plan to deepen their collaboration.

Some 30 jurisdictions are making progress on introducing international sustainability standards in their legal or regulatory frameworks.

The International Auditing and Assurance Standards Board is preparing for the adoption of its International Standard on Sustainability Assurance 5000 early next year.

The International Public Sector Accounting Standards Board released a draft version of a sustainability reporting standard for use by governments around the world.

The new regulatory environment has faced legal challenges, creating uncertainty for companies and auditors.

Despite the focus, however, most audit plans don't currently prioritize the risks, according to a new report from the Institute of Internal Auditors.

CPA firms are perfectly positioned to provide advisory and assurance services on ESG reporting, given their infrastructure around audit quality, independence requirements, and professional development.

Climate change remains a top issue for global business leaders in the C suite, according to a report by Deloitte.

Unlike the U.S., where the federal government can offer tax breaks, EU taxation rests with member states, leaving the bloc to work largely through loans and grants.

The International Accounting Standards Board published a consultation document with eight proposed illustrative examples to show how companies could apply International Financial Reporting Standards when reporting the effects of climate-related and other types of uncertainties in their financial statements.