Research report calls for enhanced segment and sustainability-related disclosures

A new research report from the Australian Accounting Standards Board (AASB), Malaysian Accounting Standards Board (MASB), and CPA Australia provides timely insight into key accounting challenges that stakeholders believe the International Accounting Standards Board (IASB) should tackle in its next agenda consultation.
The findings, based on a stakeholder survey and comparative analysis of financial statements, highlight strong calls for improved operating segment reporting, standardised disclosures for pollutant pricing mechanisms, and clearer guidance on hot topics like cryptocurrency accounting and going concern disclosures. Stakeholders also stressed the need for better alignment between the IASB and the International Sustainability Standards Board (ISSB).
Part B of the report dives into how segment information is currently disclosed by top listed firms in Australia and Malaysia, finding broad alignment with internal reporting practices, but also identifying gaps, such as vague segmentation bases and missing disclosures on key performance indicators and decision-makers.
In our view, these findings underscore the critical importance of digital, structured disclosures, particularly as sustainability and financial reporting converge. The demand for more consistent and machine-readable segment and non-financial data is only set to grow.
Explore the full report here.