[Global Financial Insights] IFRS Foundation Announces Stakeholder Event on Transition Plan Disclosures and More

Editorial Team – [2025] 170 taxmann.com 861 (Article)

This week’s Global Financial Insights covers significant updates in financial reporting and auditing practices:

1. IFRS stakeholder event on transition plan disclosures: The IFRS Foundation will hold a virtual stakeholder event on February 25, 2025, to gather insights on transition plan disclosures for a lower-carbon economy. The event aims to refine guidance on disclosure requirements, with participation from regulators, investors, and corporate preparers. Registration is open until February 7, 2025, and the initiative aligns with IFRS S2 and ISSB’s global baseline to enhance consistency in climate-related reporting.
2. FRC launches initiative to support UK SMEs: The FRC launched a year-long campaign on January 29, 2025, to help UK SMEs access audit services, reduce reporting burdens, and secure capital for growth. A market study starting February 3, 2025, will explore audit challenges, while the FRC aims to enhance proportional auditing standards and stakeholder engagement to support SME innovation and economic expansion.

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