3 May 2021To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON IFRS FOUNDATION EXPOSURE DRAFTExposure Draft on Proposed Targeted Amendments tothe IFRS Foundation Constitution to Accommodate an InternationalSustainability Standards Board to Set IFRS Sustainability StandardsComments to be received by 2 July 2021The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute ofCertified Public Accountants (Institute) is seeking comments on the IFRS FoundationExposure Draft Proposed Targeted Amendments to the IFRS Foundation Constitution toAccommodate an International Sustainability Standards Board (ISSB) to Set IFRSSustainability Standards (Exposure Draft). The Exposure Draft is available on the Institute'swebsite:
http://www.hkicpa.org.hk/en/standards-and-regulations/standards/financial-reporting/exposure-drafts/.In September 2020, the IFRS Foundation Trustees (Trustees) published a ConsultationPaper on Sustainability Reporting (Consultation Paper) to assess the demand for globalsustainability reporting standards in general and to consult on how the IFRS Foundation(Foundation) should respond to that demand. Base on the feedback on the ConsultationPaper, it was confirmed that there was indeed an urgent need for global sustainabilityreporting standards. Moreover, there was broad agreement among the respondents to theConsultation Paper that the Foundation should play a leading role in the development ofsuch standards.The Trustees therefore propose to amend the Foundation’s Constitution to expand theobjectives of the Foundation to accommodate the potential formation of a new InternationalSustainability Standards Board (ISSB), which will set IFRS sustainability standards, withinthe governance structure of the Foundation.The FRSC invites your comments on the proposal as set out in the Exposure Draft by 2July 2021 to allow your comments to be considered in developing its response to theFoundation. 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 Exposure Draft on Proposed Targeted Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board to Set IFRS Sustainability Standards
下载原件3 May 2021To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON IFRS FOUNDATION EXPOSURE DRAFTExposure Draft on Proposed Targeted Amendments tothe IFRS Foundation Constitution to Accommodate an InternationalSustainability Standards Board to Set IFRS Sustainability StandardsComments to be received by 2 July 2021The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute ofCertified Public Accountants (Institute) is seeking comments on the IFRS FoundationExposure Draft Proposed Targeted Amendments to the IFRS Foundation Constitution toAccommodate an International Sustainability Standards Board (ISSB) to Set IFRSSustainability Standards (Exposure Draft). The Exposure Draft is available on the Institute'swebsite:
http://www.hkicpa.org.hk/en/standards-and-regulations/standards/financial-reporting/exposure-drafts/.In September 2020, the IFRS Foundation Trustees (Trustees) published a ConsultationPaper on Sustainability Reporting (Consultation Paper) to assess the demand for globalsustainability reporting standards in general and to consult on how the IFRS Foundation(Foundation) should respond to that demand. Base on the feedback on the ConsultationPaper, it was confirmed that there was indeed an urgent need for global sustainabilityreporting standards. Moreover, there was broad agreement among the respondents to theConsultation Paper that the Foundation should play a leading role in the development ofsuch standards.The Trustees therefore propose to amend the Foundation’s Constitution to expand theobjectives of the Foundation to accommodate the potential formation of a new InternationalSustainability Standards Board (ISSB), which will set IFRS sustainability standards, withinthe governance structure of the Foundation.The FRSC invites your comments on the proposal as set out in the Exposure Draft by 2July 2021 to allow your comments to be considered in developing its response to theFoundation. 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.