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Sustainability Before Financial Accounting, Standards Chief Says

Sept. 27, 2021, 3:24 PM

The International Accounting Standards Board should limit the work it does on financial accounting to free up time for cooperation with a planned sustainability reporting board, the IASB chair said Monday.

Andreas Barckow, who became IASB chair in July, told the World Standard-setters Virtual Conference that early feedback on the IASB’s strategic direction plan for years 2022-26 suggested the board should launch fewer consultations on financial accounting matters than it had in the previous five years. Rather, he said, it should emphasize cooperation with sustainability standard setters and clarify accounting for intangible assets.

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