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In 2023, the International Sustainability Standards Board (ISSB) issued its first two international IFRS Sustainability Disclosure Standards (IFRS SDS)

The Corporate Sustainability Reporting Directive (CSRD) came into force on 1 January 2024 and the first wave of reporting entities, which includes large publicly listed companies with more than 500 employees (Wave 1), are now preparing their first sustainability reports for the year ended 31 December 2024.

The deadline for submitting the 2025 annual confirmation to the Jersey Financial Services Commission (JFSC) is fast approaching.

Organisational culture is a two-edged sword. Firms with good organisational culture reap numerous benefits including improved business reputation and customer satisfaction.

On 2 May 2024, the long-awaited and highly anticipated interoperability guidance has been jointly issued by the IFRS Foundation and European Financial Reporting Advisory Group (EFRAG).

The mid-market looks to international business opportunities for growth and expansion.

The Regulatory Treadmill - keeping up with regulatory developments and the ever-increasing focus on Financial Crime

2023 was the most active year yet for sustainability-related reporting requirements. With the issuance of several new standards and reporting frameworks, it can be hard to keep up with all of the activity.

The International Sustainability Standards Board (ISSB) has published amendments to the SASB Standards which aim to strengthen their international applicability.

In a keynote speech for the COP26 Presidency, then-Chancellor Rishi Sunak set an ambitious objective to make the UK the “first ever Net Zero-aligned Financial Centre”.

The Transition Plan Taskforce (TPT) has published its final disclosure framework.

The IFRS, which is responsible for publishing the ISSB climate standards, met in Montreal on 17 February, with the aim of detailing what’s next for sustainability disclosure.

The International Accounting Standards Board (IASB) has issued amendments to IAS 1 ‘Presentation of Financial Statements’ that aim to improve disclosures about long-term debt with covenants for periods beginning on or after 1 January 2024, with early adoption being permissible.

The IASB has issued additional guidance in IFRS 16 on accounting for sale and leaseback transactions.

The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging.

In light of the latest conflict in Ukraine, including the introduction of wide-ranging sanctions against certain Russian companies and individuals, entities need to carefully consider the accounting implications of this situation.