U.K. to Use IFRS Sustainability Reporting, Minister Says

Oct. 12, 2021, 3:02 PM

The U.K. will require big companies to use the sustainability reporting standards being developed by the IFRS Foundation, a government minister said Tuesday.

The U.K. is already working to create a body tasked with incorporating the IFRS standards into national regulations, Martin Callanan, minister for business, energy and corporate responsibility, told an event hosted by the Institute of Chartered Accountants in England and Wales. The IFRS Foundation, parent of the International Accounting Standards Board, has proposed setting up a new body to write sustainability standards, which would need to be formally adopted by each of the 120-plus countries using ...

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