AICPA, CAQ support SEC’s exploration of climate change disclosures

AICPA and Cer for Audit Quality (CAQ) voic support for SEC’s exploration of disclosures relat to climate change and environmal, social, and governance (ESG) issues in comm letters s to commission on Friday.

SEC in March asked for comments on its disclosure rules and guidance relat to climate change disclosures momum on this topic h grown. IFRS Foundation plans to announce a decision in fall on wher to cre an international sustainability standards board, and a merger of Sustainability Accounting Standards Board (SB) and International Integrat Reporting Council (IIRC) h incre focus on importance of harmonizing standards and frameworks in this area.

According to AICPA letter to SEC, it’s critical for investors to have relevant disclosures drivers of value, and market participants ne to work toward a comprehensive global reporting solution that includes ESG disclosures and shows how an erprise its resources to cre value over term.

AICPA letter:

CAQ letter:

“It is important that any potial ESG reporting requirems be scalable to public companies of all sizes and consider differences in potial ESG risks and opportunities of differ industries and geographies,” CAQ letter said.

SEC comm deadline w Sunday, and commission will review comms it considers its next steps on ESG issues.

Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is JofA’s itorial director.


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