Two new IIA bulletins about sustainability reporting

The Internal Audit Foundation has issued two new bulletins about sustainability reporting. Both bulletins are about proposed guidelines in the field of ESG/Sustainability-reporting which also could have their impact on the role of the internal audit. 

IIA Bulletin: SEC Proposes new Climate Disclosure Rules
Publicly-traded companies on U.S. exchanges could soon be required to report robust and complex climate-related data for investor consideration, including, “information about climate-related risks that are reasonably likely to have a material impact on their business, results of operations, or financial condition, and certain climate-related financial statement metrics in a note to their audited financial statements,” according to much-anticipated rules proposals issued by the U.S. Securities and Exchange Commission (SEC) on March 21.

IIA Bulletin: ISSB Issues Proposed Global Climate and Sustainability Disclosure Standards
The International Sustainability Standards Board (ISSB), an independent board established by the IFRS Foundation in November, issued its highly anticipated proposed uniform global disclosure standards on March 31. The release marks a watershed moment in environmental, social, and governance (ESG) and sustainability reporting. The comprehensive standards are designed to provide a globally recognized and accepted baseline to help organizations create reports on sustainability-related risks and opportunities, which will allow capital markets and investors to make better informed decisions.