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Items tagged with "Australia"

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Australia publishes draft ESG reporting law

Following a consultation last year, the Australian Government Treasury has introduced draft legislation mandating comprehensive climate-related reporting and assurance for large and medium-sized companies. The legislation is aligned with the International Sustainability Standards Board (ISSB) standards.

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AASB shines a light on materiality in financial reporting

Materiality, a linchpin in financial reporting, has garnered renewed attention from the Australian Accounting Standards Board (AASB). Two recent publications shine a light on the application of materiality by preparers and auditors, revealing a need for more nuanced approaches that align with user expectations.

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Australia’s sustainable finance strategy

The Australian government has launched its Sustainable Finance Strategy, a step toward achieving net-zero emissions. This framework aims to dismantle barriers to sustainable investments, aligning with global environmental goals.

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Deloitte report urges Australia to embrace digital corporate reporting

In a recent report titled “Embracing the power of digital corporate reporting: A mandate for change,” Deloitte Access Economics highlights the urgent need for Australia to adopt digital reporting to streamline and enhance corporate reporting and increase the visibility of its public markets.

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Australia delays digital climate reporting, embraces alignment with ISSB standards

The Australian government has initiated a second consultation seeking input on the implementation of standardised climate-related financial disclosures in the country. The goal is to closely align these requirements with the recently published standards from the International Sustainability Standards Board (ISSB), promoting global comparability.

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APRA must consider climate-related risks

Australia’s financial regulator, the Australian Prudential Regulation Authority (APRA), has been mandated by the government to incorporate climate change-related risks into its role.

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Australia eyes ESG reporting

The Australian Securities & Investments Commission (ASIC) Chair Joe Longo delivered a speech at the AFR environmental, social, and governance (ESG) Summit, shedding light on the crucial role of ESG reporting and its impact on attracting investment.

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ASIC highlights need for transparency in sustainable finance

In a speech at the RI Australia 2023 conference, ASIC Deputy Chair Karen Chester emphasised the regulator’s focus on sustainable finance and the need to tackle greenwashing with sustainability disclosures.

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Australian government establishes net zero authority

The Australian government is set to establish a new authority aimed at ensuring that workers, industries and communities can take advantage of the opportunities presented by Australia’s net zero transition.

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APRA prioritises digital

The Australian Prudential Regulation Authority (APRA) has released its policy and supervision priorities for 2023, including a focus on modernisation of prudential architecture.

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