Future of Sustainability Reporting
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| Venue | Hennessey Hotel Ebene |
| Date | 6th July and 7th July 2023 |
| Time | 09:00 to 16:00 |
| Information | This powerhouse conference on sustainability brings together the most comprehensive group of experts in this area from across the globe. Hear from the global experts in this area on the new ISSB Sustainability Standards, as well as the future of reporting in this highly topical area.
Speaker: Bruce Mackenzie, Board Member, International Accounting Standards Board
Speaker: Ndidi Nnoli-Edozien, Board Member, International Sustainability Standards Board
Speaker: Lebogang Senne, Technical Director, Pan African Federation of Accountants and Africa representative on the Sustainability Standards Advisory Forum of the IFRS Foundation
Speaker: Raymond Chamboko, Director, W.consulting SA
Speaker: Sarah-Jane Mackenzie, Director, W.consulting UK
1. Value creation through integrated thinking and reporting: Integrated thinking takes account of the connectivity between the different factors that contribute to an organisation's ability to create value over time. It is no longer sufficient to think of an organisation’s impact solely on its shareholders but rather to consider the entire breadth of its stakeholders. The organization is an integral part of society and is affected and affects the society in which it operates. Its ability to create value is dependent on its ability to create value for all its stakeholders and this requires that it understand the needs, interests and expectations of its material stakeholders. The organization is a corporate citizen and thus status confers on it rights, obligations and responsibilities towards society and the natural environment on which society depends for its wellbeing and progress. The reporting that follows is a demonstration of the organisation’s stewardship in this respect and thus a tool for communicating how the organisation's strategy, governance, performance and prospects have and will continue to lead to the creation of value.
2. The Six Capitals: In the context of sustainability and integrated reporting, the Six Capitals refer to the resources and relationships used and affected by an organisation. King IV refers to the “triple context” or the combined context of the economy, society and environment in which the organization exists and operates. This triple context is demonstrated in the forms of capital that an organisation uses or affect and these typically include financial, manufactured, intellectual, human, social and relationship, and natural capitals.
We will discuss each of the capitals in detail, and how they contribute to, and are affected by, an organisation's value creation process.
3. The ISSB - its role in sustainability reporting, the importance of a global baseline, and where to from here for the board: The Trustees of the IFRS Foundation announced the formation of the International Sustainability Standards Board (ISSB) in November 2021 at COP26 in Glasgow, following indications from the market of demand for its establishment. The ISSB is developing, in the public interest, standards that will result in a high-quality, comprehensive global baseline of sustainability disclosures focused on the needs of investors and the financial markets. Sustainability factors are becoming a mainstream part of investment decision-making process. There are increasing calls for companies to provide high-quality, globally comparable information on sustainability-related risks and opportunities, as indicated by feedback from consultations undertaken with market participants. Part of the ISSB’s role is to address the fragmented landscape of voluntary, sustainability-related standards and requirements that add cost, complexity and risk to both companies and investors.
We will hear from the ISSB themselves as to how they are discharging their role, why it is important that the fragmented reporting landscape be addressed and how this will be done.
Speaker: Ndidi Nnoli-Edozien, Board Member, International Sustainability Standards Board
4. How all this will impact Financial Reporting: A view from the IFRS perspective - We will hear from the IASB as to how the developments in sustainability reporting may impact financial reporting.
5. Development in other Sustainability-related standards: Developments in the area of sustainability do not only address the requirements of preparers of financial statements in the private sector but also other role players. The International Public Sector Accounting Standards Board, the International Audit and Assurance Standards Board and the International Ethics Standards Board for Ethics are amongst other bodies that are working on standards that will complement the work of the ISSB and extant standard setters.
We will hear from the Pan African Federation of Accountants and Africa representative at the Sustainability Standards Advisory Forum of the IFRS Foundation as to the progress of this work and how this may affect issuers, preparers, consultants and other role players alike.
And importantly, what role WE CAN ALL play in the process of developing these standards.
6. IFRS S1 General Sustainability-related Disclosures and IFRS S2 Climate-related Disclosures: The IFRS Foundation, through the International Sustainability Standards Board (ISSB) issued their first two exposure drafts on General Requirements for Disclosure of Sustainability-related Financial Information and Climate-related Disclosures in March 2022. The final standards will be issued in June 2023. The activities of the ISSB will build on the work that has been undertaken previously by various organisations which have focused on market-led investor-focused reporting initiatives, including the Climate Disclosure Standards Board (CDSB), the Task Force for Climate-related Financial Disclosures (TCFD), the Value Reporting Foundation’s Integrated Reporting Framework and industry-based Sustainability Accounting Standards Board (SASB) Standards, as well as the World Economic Forum’s Stakeholder Capitalism Metrics.
We will address the requirements of the anticipated standards IFRS S1 and IFRS S2 and how they will assist in the quest for transparency, accountability, and sustainable business practices.
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| Presenter |
Raymond Chamboko
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Raymond trained with Coopers & Lybrand and Ernst & Young, where his portfolio of clients included listed multinational entities, public interest entities as well as other significant unlisted entities. After leaving the profession, he worked in commerce as Financial Director within a listed group of companies. He has been involved in IFRS implementation projects for JSE-listed and public interest entities and has, over the years, gained significant experience in the interpretation and practical application of IFRS. His industry experience includes, amongst others, Agri-processing, Manufacturing, Mining and Public Utilities (Power & Water). He is a co-author of the publications Applying IFRS for SMEs and Wiley Interpretation and Application of International Financial Reporting Standards 2011. He has also been involved in managing Sustainability Reporting projects and more recently in Integrated Reporting projects as well as required in terms of the King Code of Governance Principles for South Africa 2009 (King III) and has been involved in commenting on the proposed Framework for Integrated Reporting and the Integrated Report discussion paper that was issued by the Integrated Reporting Committee of South Africa. Raymond is involved in the development of the Chartered Accountancy profession and to this end, he is registered with SAICA as a Registered Assessor. He also serves on various South African Institute of Chartered Accountants (SAICA) Technical sub-committees and is a member of the SAICA’s Continuing Professional Development and Legal & Compliance Committees.
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| CPD Units | 14 units on full attendance |
| Seats Left | 3 |
| Price | Rs 17000 |
| Booking Deadline | |
| Map | View Map |
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