{{item.title}}
This document highlights the key areas that might impact companies for the 31 December 2024 reporting season, including areas of focus for ASIC, general hot topics in the market, accounting changes from standard setting, regulatory changes and sustainability matters impacting financial reporting.
Investors and regulators are increasingly focusing on the impact of climate change and broader environmental, social and governance (ESG) matters on the financial statements. Our dedicated Environmental, Social and Governance (ESG) in IFRS website has technical guidance specifically focused on the effect of ESG matters on the IFRS financial statements.
The latest edition of our Value Accounts Holdings publication further discusses how climate change could affect certain measurements and the related disclosures in the financial statements.
Regulators and standard-setting bodies are responding to the stakeholder needs of credible and trusted environmental, social and governance (ESG) disclosures, and we are seeing rapid change in the ESG landscape with likely mandatory requirements in the near future.
On 12 January 2024, the Australian Treasury released the Exposure Draft Treasury Laws Amendment Bill 2024: Climate-related financial disclosure (Exposure Draft legislation).  It builds off previous consultations focused on the Government’s objective to improve the transparency and comparability of information available to investors regarding Australian entities’ exposures to climate-related financial risks and opportunities as well as their plans and strategies in response to those exposures.
For further information about the status of the Australian proposals see our local ESG page. Information about the global developments (ISSB, EU, SEC) is on our dedicated Viewpoint ESG page.
Partner, Corporate Reporting Services, PwC Australia
Tel: +61 418 611 189
Partner, Accounting Consulting Services, PwC Australia
Tel: +61 3 8603 5371