Global Regulatory Report

January 19 – In 2026, the Netherlands Authority for the Financial Markets (AFM) will intensify its oversight of digital resilience and the responsible use of AI. Furthermore, the approach to financial crime will be strengthened, with a special focus on investment fraud and combating money laundering. These and other supervisory priorities for the coming year are further explained in the AFM Agenda 2026, published today.

Intensified supervision of cyber resilience and AI, strengthened approach to financial crime

January 28 – Sheldon Mills, FCA is leading a long-term review into AI and retail financial services. The review will consider how emerging uses of AI could influence consumers, markets and firms, looking towards 2030 and beyond.

The FCA’s long term review into AI and retail financial services: designing for the unknown

January 19 – The seven professional bodies that jointly prepare Professional Conduct in Relation to Taxation (PCRT) have published new guidance for their members on using artificial intelligence (AI) tools in their tax work.

Professional bodies publish guidance on using AI for tax work

January 8 – The European Supervisory Authorities (EBA, EIOPA and ESMA - the ESAs) published today their Joint Guidelines on environmental, social, and governance (ESG) stress testing. These Guidelines provide national insurance and banking supervisors with clear guidance on how to integrate ESG risks into supervisory stress tests, both when using established frameworks and when conducting complementary assessments of ESG risk impacts.

ESAs publish joint Guidelines on ESG stress testing

January 20 – GRI has appointed Susanne Stormer as the Chair of the Global Sustainability Standards Board (GSSB), the GRI governance body responsible for setting the GRI Standards.

GRI Appoints Susanne Stormer as Next Leader of Standard-Setting Board

January 22 – The International Public Sector Accounting Standards Board (IPSASB) has issued a new IPSAS Standard to address the need for guidance: IPSAS 51, Tangible Natural Resources Held for Conservation. IPSAS 51 introduces new, public sector-specific accounting guidance on accounting for natural resources with physical substance, such as land, trees, and water, often held by governments to preserve or protect them. IPSAS 51 also highlights guidance in other standards that applies to natural resources that are held for other purposes.

New IPSAS Standard Helps Governments Account for Tangible Natural Resources Held for Conservation

January 29 – The International Public Sector Accounting Standards Board (IPSASB) issued IPSASB SRS 1, Climate-related Disclosures, the first-ever public sector standard to help governments and public sector entities report climate-related risks and opportunities clearly and consistently. IPSASB SRS 1 was developed with support from the World Bank, which works to create a world free of poverty on a livable planet through a combination of financing, knowledge, and expertise.

IPSASB Issues First Ever Public Sector Standard for Climate-Related Disclosures

January 20 – GRI has appointed Susanne Stormer as the Chair of the Global Sustainability Standards Board (GSSB), the GRI governance body responsible for setting the GRI Standards.

GRI Appoints Susanne Stormer as Next Leader of Standard-Setting Board

January 12 – The International Ethics Standards Board for Accountants (IESBA) today began a high-level outreach visit to Singapore, Malaysia and Hong Kong SAR, marked by the launch of its Viewpoints on eight fundamental elements of an ethical culture and governance framework for accounting firms. Learn more about the Firm Culture and Governance Project here.

IESBA Launches Firm Culture and Governance Viewpoints as it Begins Asia Outreach

December 18: EFRAG has published its final endorsement advice on the Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures, concluding that the amendments meet all technical endorsement criteria and are conducive to the European public good.

EFRAG issues Endorsement Advice on Amendments to the Reduced Disclosure Standard

December 18: The December 2025 IFRS for SMEs Accounting Standard Update highlights key developments on the third edition of the Standard, including a spotlight on revised Section 19 Business Combinations and Goodwill, new implementation resources, stakeholder engagement activities, licensing arrangements, and the launch of enhanced ePub access.

IFRS for SMEs Accounting Standard Update

December 11: The ISSB has issued targeted amendments to greenhouse gas (GHG) emissions disclosure requirements in IFRS S2 Climate-related Disclosures in response to specific application challenges that were identified as companies started to apply the Standard.

ISSB issues targeted amendments to IFRS S2 to support implementation 

December 10 - The Financial Conduct Authority (FCA) has launched a new Firm Checker tool to help consumers verify whether a firm is authorized and properly permitted to offer financial services, aiming to reduce victims of investment and pension scams and fight financial crime.

FCA launches Firm Checker to fight financial crime

December 10- The IFAC has released a new video series capturing insights from a PAIB Advisory Group event on how AI is reshaping finance and accounting, highlighting evolving roles, trust and design considerations, and leadership responsibilities for the profession.

AI in Finance & Accounting — New IFAC Video Series | IFAC

December 19- AFM chair Laura van Geest highlights how rising use of AI by criminals is accelerating financial crime and stresses the need for vigilance, cooperation and strategic responses from regulators and the market to protect consumers and financial integrity.

FD column Laura van Geest: Underworld uses AI: financial crime is growing, vigilance is therefore crucial

December 11: The Dutch Authority for the Financial Markets (AFM) highlights 12 building blocks to support the responsible and controlled use of advanced audit tooling, including (Gen)AI, emphasising that trust, data security and human accountability must underpin innovation in audit practices.

12 building blocks for safer deployment of advanced (GenAI) audit tools

December 3- The Financial Conduct Authority (FCA) has launched an AI Live Testing initiative giving firms a regulated “safe space” to trial and assess AI’s benefits and risks with tailored support from the regulator and its technical partner, helping ensure responsible AI deployment in UK financial markets.

FCA helps firms to test AI safely 

December 17 - The Chartered Institute of Management Accountants (CIMA) has unveiled findings from its Future-Ready Finance: Technology, Productivity, and Skills Survey, revealing a significant gap between finance professionals’ expectations of AI’s impact and their organizations’ readiness to adopt it

New CIMA survey reveals uncertainty and lack of organizational preparedness around AI adoption and skills

December 2- The 2024 Form 10‑Ks of S&P 500 companies reveal a significant increase in disclosures on AI, digital assets, and sustainability, highlighting the important role auditors play in ensuring trust in this evolving information.

AI, Digital Assets, and Sustainability: What Form 10-Ks Tell Us About Reporting Trends

December 19 - The AFM urges accountants’ firms to maintain sufficient control over the allocation of time, resources and fees to support high-quality statutory audits, sharing 2025 supervisory observations and good practices with the sector and encouraging reflection and ongoing monitoring.

Grip on the deployment of time, resources and fees important for the quality of statutory audit

December 3 - The Independent Regulatory Board for Auditors (IRBA) has issued a strong reminder to audit firms of the significant responsibilities and risks associated with auditing listed entities, following recent inspections and regulatory changes in the audit landscape.

IRBA Highlights Heightened Responsibilities and Risks in Auditing Listed Entities

December 12 - The Center for Audit Quality (CAQ) highlights findings from the 2025 Audit Committee Transparency Barometer showing that while audit committees’ oversight responsibilities are evolving (including emerging risks like cybersecurity), proxy disclosures often remain stagnant, presenting an opportunity for committees to improve how they communicate their role and actions to investors.

Closing the Transparency Gap: Aligning Audit Committee Actions with Disclosures

December 19 - IAASA has revised five International Standards on Auditing (Ireland) (ISAs (Ireland)) to reflect the adoption of the Irish Corporate Governance Code. Entities with an equity listing on Euronext Dublin are required to use the Code for financial years beginning on or after 1 January 2025.

Revisions to the ISAs (Ireland) to reflect adoption of the Irish Corporate Governance Code

December 18 – The PIOB certifies the IAASB’s Narrow-Scope Amendments to IAASB Standards Arising from the IESBA’s Using the Work of an External Expert Project.

The PIOB Certifies the IAASB's Narrow Scope Agreements

December 23 - Following the release of the draft simplified European Sustainability Reporting Standards (ESRS), EFRAG is pleased to announce the publication of the Basis for Conclusions and of four other accompanying documents aimed at supporting stakeholders’ understanding of the draft simplified ESRS. The Basis for Conclusions also serves as feedback statement and explains how the feedback from the public consultation has shaped the amendments.

ESMA reviews impact of Guidelines on ESG or sustainability related terms in fund names

December 23 - Following the release of the draft simplified European Sustainability Reporting Standards (ESRS), EFRAG is pleased to announce the publication of the Basis for Conclusions and of four other accompanying documents aimed at supporting stakeholders’ understanding of the draft simplified ESRS. The Basis for Conclusions also serves as feedback statement and explains how the feedback from the public consultation has shaped the amendments.

EFRAG publishes complementary materials supporting the draft simplified ESRS

December 12: EFRAG publishes three supporting guides to help SMEs report on disclosures identified as particularly challenging in the public consultation and field test on VSME.

Three New EFRAG Guides Now Available to Support SMEs in Sustainability Reporting

December 3: EFRAG has submitted today its technical advice to the European Commission on the draft simplified European Sustainability Reporting Standards (ESRS).

EFRAG provides its technical advice on draft simplified ESRS to the European Commission

December 15 - IAASA has published a paper observations on Wave 1 CSRD reporting summarizing key findings from our supervisory work on the first year of CSRD Wave 1 reporting in Ireland. 

Observations on wave 1 CSRD reporting

December 10 - The Malaysian Institute of Accountants (MIA) today unveiled two new initiatives — the MIA Sustainability Showcase 2025 and the MIA Certificate of Sustainability for Accountants — designed to strengthen the profession’s sustainability leadership.

MIA unveils new initiatives

December 3 - The Dutch Authority for Financial Markets (AFM) reports that large financial institutions have taken initial steps toward transparent reporting of climate transition plans and financed emissions under new sustainability reporting rules, outlines a market overview of banks and insurers, and urges further standardization and improved data quality.

First steps in the right direction towards transparent reporting on climate transition plans and financed emissions

December 1 - The Financial Conduct Authority (FCA) has published proposals to ensure that environmental, social and governance (ESG) ratings are transparent, reliable and comparable.

FCA sets out proposals to make ESG ratings transparent, reliable and comparable

December 18 - The IESBA Focus series highlights progress on the Firm Culture and Governance project, aimed at strengthening ethical behavior through improved culture and governance frameworks. In a new video, IESBA Vice-Chair Channa Wijesinghe outlines key December Board decisions and previews upcoming Viewpoints and stakeholder dialogues launching in January 2026.

IESBA Focus: Firm Culture & Governance

November 25 – The Financial Accounting Standards Board (FASB) today published an Accounting Standards Update (ASU) to clarify and improve hedge accounting guidance.

FASB Issues New Standard to Improve Hedge Accounting Guidance

November 19– The FRC has published practical insights to help smaller listed companies improve the quality of their corporate reporting and make the most of their resources. “Thematic review: Reporting by the UK's smaller listed companies”, examines annual reports from 20 companies listed outside the FTSE 350, both on the Main Market and the Alternative Investment Market (AIM). 

FRC publishes practical insights to help smaller listed companies improve corporate reporting quality

November 28 – The IASB issued illustrative examples demonstrating how companies can apply IFRS Accounting Standards when reporting the effects of uncertainties in their financial statements. The examples use climate-related scenarios as practical illustrations, but the underlying principles apply more broadly to all uncertainties.

IASB issues illustrative examples on reporting uncertainties in financial statements

November 25- CPA Australia urges young Australians to harness AI to drive entrepreneurship, innovation, and economic growth.

Striking the right balance between technology and talent

November 20- CPA Australia survey finds AI adoption in Chinese Mainland surging, reshaping accounting roles, driving digital transformation, and increasing demand for cybersecurity and tech-savvy talent.

AI adoption surges in Chinese Mainland

November 11- CPA Australia warns AI adoption heightens cybersecurity risks, urging businesses, especially small ones, to strengthen digital defenses.

AI boom fuels new wave of cybersecurity threats

November 10- CPA Australia survey finds AI adoption surging in Hong Kong, reshaping accounting roles, hiring trends, and emphasizing data protection and governance.

CPA Australia Survey: Increasing AI Adoption Reshapes Future Roles

November 12- The Institute of Singapore Chartered Accountants (ISCA) today announced the launch of a new AI Fluency Programme for Singapore’s 120,000-strong accountancy sector, supported by a $1 million investment from the institute’s $2 million Artificial Intelligence for Accountancy Industry (AI for AI) initiative fund.

ISCA Offering Free AI Fluency Program

October 27 - The American Institute of CPAs has created an artificial intelligence-enabled tool, Josi, that provides secure, direct access to the AICPA’s professional standards, authoritative guidance and related information.

GenAI Research Tool Offers Information and Insights from AICPA’s Professional Library

October 23 - In an analysis of SEC Form 10-Ks for S&P 500 companies, the CAQ found that 448 companies, or 90%, mentioned AI-related information in their 2024 10-K. This was an increase of almost 25% from the 359 companies that did so in 2023.

Analysis of AI-Related Information in S&P 500 Companies’ 10-Ks

November 27 - Accountancy Europe highlights the critical role of accountants in the EU AML ecosystem as AMLA seeks proportionate, profession-tailored regulatory standards.

Shaping the AML Ecosystem 

November 25 - The Netherlands Authority for the Financial Markets (AFM) organized the first roundtable discussion with sector representatives of investment institutions and investment firms on the introduction of new European rules to prevent money laundering and terrorist financing. 

Roundtable on new European AML and counter-terrorist financing rules lunched

November 17 - Deloitte emphasizes auditors’ vital role in protecting capital markets and maintaining trust during Fraud Awareness Week.

The Power of Assurance in Promoting Integrity and Resilience Against Fraud

November 18 - Global report reveals how cybercrime, governance gaps and AI-turbocharged deception are converging to create an industrialized fraud environment that demands coordinated action.

ACCA exposes new findings on an escalating, systemic fraud landscape and calls for a collective reset | ACCA Global

November 25- Chartered Accountants Australia and New Zealand (CA ANZ) have released its Sustainability Playbook, a practical guide designed to help accounting and finance professionals build the skills and confidence needed to navigate one of the most significant transformations in corporate reporting in decades.

CA ANZ Launches Sustainability Playbook

November 17- New ISF report finds Canadian corporate climate disclosures improving but uneven, warning that policy uncertainty and greenwashing rules may stall future progress.

Sustainability disclosures improving across Canada, ISF report finds - CPA Canada

November 12- The FRC has issued International Standard on Sustainability Assurance (UK) 5000, “General Requirements for Sustainability Assurance Engagements”, which provides UK companies, investors and assurance providers with a consistent, internationally aligned assurance standards for voluntary use in sustainability assurance engagements.

FRC takes steps to support quality and consistency in the assurance of sustainability reporting

November 12- New IDW Advisory Note offers guidance on technology-based ESG reporting, highlighting automation and maturity models to improve efficiency and accuracy.

IDW Publishes Advisory Note

November 19- Given the prevalence of nature and biodiversity themes highlighted during COP30 in Brazil, GRI supports the recent announcement by the IFRS Foundation that the International Sustainability Standards Board (ISSB) will develop incremental disclosure requirements on nature-related risks and opportunities.

GRI - A step forward for nature reporting

November 10- A new resource has launched to help organizations align their climate reporting using the GRI Standards with the UN’s official approach to setting credible climate commitments, targets and transition plans. The Integrity Matters Checklist provides a framework for reporting on climate action by non-state actors – including businesses and investors – operationalizing UN guidance on alignment with science-based net zero pathways. 

GRI - GRI launches new tool for corporate climate action

November 24- The International Auditing and Assurance Standards Board (IAASB) has published a new set of illustrative practitioner’s assurance reports to further support the implementation of International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements.  

New Illustrative Reports to Support ISSA 5000 Implementation

November 6- The FSA published its Interim Report of the "Working Group on Disclosure and Assurance of Sustainability-related Financial Information" (of the Financial System Council) and Roadmap for sustainability disclosures and assurance in Japan.

Interim Report of the "Working Group on Disclosure and Assurance of Sustainability-related Financial Information" Now Published

November 12- The Institute of Singapore Chartered Accountants (ISCA) and its partners have launched three landmark publications that advance Singapore’s sustainability reporting ecosystem and strengthen the credibility of both climate and social impact disclosures today.

ISCA Drives Collective Effort to Strengthen Singapore’s Climate and Social Impact Reporting Ecosystem

November 11– The Hong Kong Institute of Certified Public Accountants (HKICPA) is pleased to announce the signing of a Memorandum of Understanding (MoU) with the Association of Chartered Certified Accountants (ACCA) to reinforce shared values and contribute to the advancement of ethical standards within the accounting profession. The collaboration will enrich the ethics training program of the two accounting bodies and enable joint initiatives that strengthen public confidence in the profession.

HKICPA signs Memorandum of Understanding with ACCA

November 11– The Institute of Chartered Accountants of India (ICAI) has proposed to allow CAs to take on statutory work for 40 audit firms, an increase from the current 30.

More Flexibility for CAs Under Proposed ICAI Code

November 21 – The International Public Sector Accounting Standards Board (IPSASB®), developer of IPSAS® Standards, international accrual-based accounting standards for use by governments and other public sector entities around the world, has issued an updated IPSAS 33, First-time Adoption of Accrual Basis International Public Sector Accounting Standards.  

IPSASB Issues Updated IPSAS Standard to Ease First-Time Adoption

October 27 – The IPSASB, developer of IPSAS Standards, international accrual-based accounting standards for use by governments and other public sector entities around the world, has issued Definition of Material (Amendments to IPSAS 1, IPSAS 3, and the Conceptual Framework).

IPSASB Conforms its Definition of Materiale

October 16 – The Accounting Standards Board of Japan has issued a suite of new accounting pronouncements covering interim financial reporting (Statements No. 37–40 and related guidance), updated impairment guidance (Implementation Guidance No. 6), and a supplementary document on interim accounting treatments. 

ASBJ issues Accounting Standard for Interim Financial Reporting

October 28 - A survey by CPA Australia of 1,117 accounting and finance professionals across the Asia-Pacific found that 19% of businesses have reduced or stopped hiring entry-level accounting roles due to AI; in Australia alone the figure is 8%. The organization warns that while AI can improve efficiency, cutting junior positions risks creating a future skills gap and urges firms to balance technological investment with human talent. 

Striking the right balance between technology and talent

October 10 - The FSB's 2024 AI report identified several vulnerabilities, including third-party dependencies, market correlations, cyber risks, and challenges in model risk and governance, which may have implications for financial stability

​Monitoring Adoption of Artificial Intelligence and Related Vulnerabilities in the Financial Sector​​​​​​

October 24 - The third operational guide, "Intelligence Help for Accountants," represents the final step in a process undertaken by the National Council to offer members of the Register a practical tool to support the introduction of new technologies in professional practices

The National Council issues its third operational guide on AI.

October 22 - A survey of over 4,000 accountants finds that 34% currently use AI tools, a figure is expected to reach 72% within three years.

Accountants and AI Usage

October 27 - The American Institute of CPAs has created an artificial intelligence-enabled tool, Josi, that provides secure, direct access to the AICPA’s professional standards, authoritative guidance and related information.

GenAI Research Tool Offers Information and Insights from AICPA’s Professional Library

October 23 - In an analysis of SEC Form 10-Ks for S&P 500 companies, the CAQ found that 448 companies, or 90%, mentioned AI-related information in their 2024 10-K. This was an increase of almost 25% from the 359 companies that did so in 2023.

Analysis of AI-Related Information in S&P 500 Companies’ 10-Ks

October 28 - The International Bar Association (IBA) and the International Federation of Accountants (IFAC) have today launched a pioneering new initiative aimed at supporting legal and accountancy professional bodies in the fight against money laundering. 

Global Accountancy and Legal Professions Partner to Fight Money Laundering

October 30 - Professional Standards Department of the CAI is pleased to publish its AML Supervision Report 2024/25. The report summarizes its AML supervisory activities in both jurisdictions, ROI and UK for the period 6 April 2024 – 5 April 2025. 

Anti Money-Laundering Supervision Report 2024-25 published

October 31 - The ICAEW’s 2024/25 AML supervision report reveals that of 1,185 firms reviewed, 80 % were compliant or generally compliant (slightly down from 80.6 % in 2023/24), although the share of firms assessed as fully compliant rose from 13.9 % to 19.4 %. 

ICAEW has published its AML supervision report for 2024/25.

October 23 – The Canadian Public Accountability Board (CPAB), Canada’s public company audit regulator, released its interim public report on its 2025 audit quality assessment work to date. 

CPAB releases report on 2025 interim inspections results

October 2 – IAASA has issued an updated version of ISA (Ireland) 600, Audits of Group Financial Statements (Including the Work of Component Auditors). It reflects conforming amendments arising from ISA (Ireland) 505 (Revised March 2024), External Confirmations, which is effective for audits of financial periods beginning on or after 15 December 2024.

Update to the Irish Auditing Standards

October 23 - Reflecting GRI’s mission to provide the global common language for sustainability reporting, the two newest GRI Standards are being translated into 10 languages – with official translations in French, Indonesian, Japanese, and Simplified Chinese freely available for download.  

Climate and Energy Standards available in more languages

October 21 - In support of shared ambitions to enable more coherent and efficient environmental reporting by organizations worldwide, GRI and CDP have released a new resource that maps CDP’s 2025 corporate questionnaire and the recently released GRI Climate Change and Energy Standards. 

Closer connections for better climate disclosure

October 30 - The announced at its London symposium the launch of a major initiative—including the expansion of its Jurisdictional Working Group and a new guide—to position its standards as a global “passport” for sustainability disclosures, helping reduce regulatory fragmentation and cost for preparers.

Climate and Energy Standards available in more languages

October 28 - The Malaysian Institute of Accountants (MIA) has launched the MIA Sustainability Framework and Strategy Plan, which serves as a central pillar of the Institute’s strategic agenda to integrate sustainability across its operations and to strengthen its efforts in driving the future relevance and resilience of the accountancy profession.

MIA Launches Sustainability Framework & Strategy Plan

October 2 - The Malaysian Institute of Accountants (MIA) has approved the adoption of the International Standard on Sustainability Assurance (ISSA) 5000 and the International Ethics Standards for Sustainability Assurance (IESSA), taking a significant step towards enhancing the credibility and reliability of sustainability reporting and assurance in Malaysia.

New Era of Assurance and Ethics Standards for Sustainability in Malaysia

October 23 - According to its analysis, the CAQ observed that most S&P 500 companies mentioned climate-related information in their 10-K from 2021-2025.

Analysis of Climate-Related Information in S&P 500 Companies’ 10-Ks

October 30 – The 2025 Handbook of the International Code of Ethics for Professional Accountants (including International Independence Standards) is now available. 

Now Available: IESBA Handbook 2025

October 28 – The International Federation of Accountants (IFAC), the International Organization of Supreme Audit Institutions (INTOSAI), and the INTOSAI Development Initiative (IDI) have signed a Memorandum of Understanding (MoU) at the XXV INCOSAI meeting in Sharm El Sheikh, Egypt to strengthen cooperation for public sector accountability and impact. 

 IFAC, INTOSAI, and IDI Sign Strategic MoU

September 29 – The FASB published an Accounting Standards Update (ASU) that addresses stakeholders’ concerns about (1) the application of derivative accounting to contracts with features based on the operations or activities of one of the parties to the contract and (2) the diversity in accounting for share-based noncash consideration from a customer that is consideration for the transfer of goods or services.

FASB Issues Standard on Derivatives Scope Refinements

September 18 – The FASB published an Accounting Standards Update (ASU) that updates the guidance on accounting for internal-use software costs. The amendments in the new ASU apply to all entities subject to guidance in FASB Accounting Standards Codification Subtopic 350-40, Intangibles—Goodwill and Other—Internal-Use Software.

FASB Issues Standard That Makes Targeted Improvements to Internal-Use Software Guidance

August 14 – As a result of the application of IPSAS 46, Measurement, the IPSASB has issued Amendments to IPSAS Standards as a Result of the Application of IPSAS 46, Measurement.  

IPSASB Issues Amendments to IPSAS Standards 

September 25 – The IFRS Foundation has published a package of new educational resources to support implementation of the third edition of the IFRS for SMEs Accounting Standard. These materials are aimed at stakeholders learning about or applying the IFRS for SMEs Accounting Standard.

IFRS - New educational materials available

September 22 – As AI adoption outpaces public trust, accounting firms are entering the AI assurance space to verify system reliability, governance, and compliance. They aim to bridge the trust gap by applying their expertise in controls, risk, and oversight to intelligent systems.

The trust problem with AI  - CPA Canada

September 10 – AI is reshaping financial services, with CPAs leveraging tools like large language models to automate tasks, analyze data, and enhance workflows. As adoption grows, professionals are also addressing risks related to bias, privacy, and regulatory oversight.

 How AI is quietly transforming financial services - CPA Canada

September 10 – Following the entry into force of Article 13 of Law No. 132 of 23 September 2025 — which requires professionals to inform their clients about the use of artificial intelligence in the performance of intellectual activities — the National Council of Chartered Accountants and Accounting Experts (CNDCEC) has made available a sample contractual clause for inclusion in professional engagement agreements.

 AI, the standard contractual clause for the disclosure to customers has been published – Press 

September 25 – Leading AI developers are taking significant steps to make their systems more robust and secure, according to a new OECD report. How are AI developers managing risks? Insights from responses to the reporting framework of the Hiroshima AI Process Code of Conduct analyses voluntary transparency reporting under the G7 Hiroshima AI Process from technology and telecommunications companies as well as advisory, research, and educational institutions, including Anthropic, Google, Microsoft, NTT, OpenAI, Salesforce and Fujitsu.

OECD finds growing transparency efforts among leading AI developers

September 14 – President Ursula von der Leyen has outlined Europe’s path to strategic resurgence through investment, industrial innovation, and renewed sovereignty in her keynote speech:

How to enhance trust in the audit market: a European perspective

September 11 – IAASA has released its second publication, as part of its 2025 AQS Insight Series. This publication focuses on key messages on auditing of financial statement disclosures. Download the Inspection Insight Series: Auditing of Financial Statement Disclosures 

IAASA’s Audit Quality Supervision Inspection Insight Series

August 26 – The Public Company Accounting Oversight Board (PCAOB) today announced the formation of the Smaller Firm Resource Group, an advisory group of professionals from smaller audit firms. 

PCAOB Launches Smaller Firm Resource Group

September 1 – The IAASB has has released narrow scope amendments to its standards revising the definition of listed entity to align with the definition in the IESBA Code.

IAASB Adopts New Publicly Traded Entity Definition Aligned with the IESBA Code

September 25 – The FRC has updated the suite of ISAs (UK), which have been amended to include conforming amendments arising from the revision of several auditing standards in recent years.

FRC publishes conforming amendments to International Standards on Auditing

September 30 – Chartered Accountants Australia and New Zealand (CA ANZ) is urging Australian policymakers to ensure the climate‑related disclosure (CRD) assurance regime is accessible and practical for smaller audit practices.

 Advocacy update on sustainability assurance in Australia | CA ANZ

September 17 – Chartered Accountants Australia and New Zealand (CA ANZ), in collaboration with industry experts, has developed a series of information guides to assist finance professionals with climate-related disclosures.

Climate related disclosures: A series of Information Guides | CA ANZ

September 25 – EFRAG is pleased to release two complementary reports to support the application of the Voluntary Sustainability Reporting Standard for SMEs (VSME).

EFRAG releases the mappings of digital tools, platforms and initiatives

September 22 – The ACCA backs the UK’s voluntary sustainability assurance plans but urges a clear path to mandatory rules, highlighting the need for global alignment and high-quality standards to build trust and attract investment.

ACCA backs voluntary approach to sustainability assurance | ACCA Global

September 8 – The IESBA released two new staff publications to enhance understanding and support global adoption and implementation of its ethics standard on Using the Work of an External Expert as well as the International Ethics Standards for Sustainability Assurance^TM (including International Independence Standards^TM) (IESSA^TM), both of which are effective from December 2026.

IESBA Publishes New Guidance

September 23 – The new International Public Sector Financial Accountability Index 2025 Status Report, published by IFAC and Chartered Institute of Public Finance and Accountancy (CIPFA) with support from the International Public Sector Accounting Standards Board (IPSASB), highlights steady, gradual progress in governments worldwide moving from cash to accrual-based financial reporting.

 Global Public Sector Shift to Accrual Accounting Steadies | IFAC

August 14 – As a result of the application of IPSAS 46, Measurement, the IPSASB has issued Amendments to IPSAS Standards as a Result of the Application of IPSAS 46, Measurement.  

IPSASB Issues Amendments to IPSAS Standards 

August 20 – In response to the rapid evolution of artificial intelligence (AI) and its growing impact on the accounting profession, Chartered Accountants Australia and New Zealand (CA ANZ) has launched the AI Fluency Playbook: a comprehensive guide designed to help members harness the power of generative AI (GenAI) ethically, effectively and strategically. 

CA ANZ Launches AI Fluency Playbook | CA ANZ 

August 1 – The ICAI published a report on how Chartered Accountants can use AI to generate different kinds of samples for auditing. 

 ICAI - AI Enabled Audit Sampling 

August 11 – In response to the rise of artificial intelligence (AI) in the accounting profession, the Malaysian Institute of Accountants (MIA) is promoting ethical awareness, 

Accountants and Navigating Technology 

August 21 – The SAICA has reaffirmed its commitment to advancing responsible AI development in South Africa by contributing to the country's first AI Maturity Assessment Framework, highlighting the need for coordinated efforts, ethical governance, and strategic investment to improve AI readiness and drive inclusive socio-economic progress. 

SAICA champions AI readiness 

August 4 – A joint report by ACCA and EY emphasizes that robust AI assessments—covering governance, compliance, and performance—are critical for building trust, managing risks, and unlocking AI's full potential to drive innovation, productivity, and sustainable growth. 

ACCA and EY share guidance to boost confidence in AI 

August 11 – In the Center for Audit Quality’s latest Institutional Investor survey, oversight of AI emerged as a top issue for institutional investors as more companies deploy the technology across accounting, operations, and disclosures. 

Auditors and AI in the New Era of Audit | The CAQ 

August 8 – CA ANZ’s annual Quality Review Program for Australian firms reveals that the most common deficiencies are incomplete Systems of Quality Management (SOQM) and inadequate Risk Management Frameworks, and provides tailored tools and proformas to help practices address these issues. 

Australian quality review findings | CA ANZ 

August 26 – The Public Company Accounting Oversight Board (PCAOB) today announced the formation of the Smaller Firm Resource Group, an advisory group of professionals from smaller audit firms. 

PCAOB Launches Smaller Firm Resource Group

August 28 – The Public Company Accounting Oversight Board (PCAOB) announced that it is postponing for one year, to December 15, 2026, the effective date for QC 1000, A Firm’s System of Quality Control, and other new and amended PCAOB standards, rules, and forms adopted by the Board on May 13, 2024. The Board’s action also postpones the related rescission date of certain rules and standards that are currently in force.

PCAOB Postpones Effective Date of QC 1000

August 29 – The Public Interest Oversight Board (PIOB) is pleased to announce the Certification of the International Auditing and Assurance Standards Board´s (IAASB) Narrow Scope Amendments to the International Standards on Quality Management (ISQMs), International Standards on Auditing (ISAs), and International Standard on Review Engagements (ISRE) 2400 (Revised), as approved by the IAASB in June 2025. 

The PIOB certifies Amendments to the IAASB standards

August 26 – The has AASB issued Tier 2 disclosure requirements for Nature-dependent Power Purchase Agreements. 

AASB issues Tier 2 disclosure requirements 

August 4 – Over 300 organizations, including investors, companies, and NGOs, have signed a declaration urging the EU to protect the "double materiality" principle within the Corporate Sustainability Reporting Directive (CSRD). 

 Growing demand for corporate transparency 

August 14 – The IAASB has released two new resources to further support jurisdictions and stakeholders in adopting and implementing the International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements. 

New Resources to Support ISSA 5000

August 18 – Convened by the International Federation of Accountants (IFAC) and co-hosted with the Pan African Federation of Accountants (PAFA) and the Institute of Certified Public Accountants of Kenya (ICPAK), IFAC Connect Africa 2025 launches the second annual IFAC Connect series, designed to ensure international standards and best practices support local solutions. 

IFAC Connect Africa Opens in Nairobi 

August 20 – The IPSAB is offering up to six grants of $2,000 USD for research on topics on such as public sector financial reporting and sustainability. 

Call for Papers Related to Public Sector Financial & ESG Reporting

July 15 – A new whitepaper from CPA Canada and the AICPA, Closing the AI trust gap: The role of the CPA in AI assurance, outlines how CPAs can apply their independence, rigorand professional judgment to provide assurance over AI systems, and help address widespread mistrust in AI.   

CPAs belong at the centre of AI oversight - CPA Canada 

July 1 – Due to rapid advance of artificial intelligence (AI), the Council for Practical Training (RPO) will soon publish a manual on the use of AI tools within practical training. 

Royal Netherlands Institute of Chartered Accountants - Guide to responsible use of AI 

July 14 – ACCA’s AI Monitor report finds that artificial intelligence will transform accounting by automating routine tasks and expanding roles focused on strategy, compliance, and client interaction. While AI boosts efficiency, human judgment, oversight, and ethical standards remain essential to maintaining trust and delivering value. 

Latest business & finance and accounting news from ACCA 

July 30 – Lawmakers introduced the bipartisan Unleashing AI Innovation in Financial Services Act to establish AI Innovation Labs at federal financial agencies, allowing companies to test AI-driven financial products in controlled environments without fear of enforcement actions. 

Chairman Hill Introduces Bipartisan Bill to Promote Artificial Intelligence in Financial Services 

July 28 – As business complexities grow, auditors are exploring responsible ways to integrate AI to better detect patterns and enhance their focus on risk, according to data from the Center for Audit Quality (CAQ).  

How auditors harness responsible AI to identify trends and sharpen focus on risk | The CAQ 

July 22 – The Public Company Accounting Oversight Board (PCAOB) has selected 685 students, nominated by their U.S. colleges and universities, to each receive a $15,000 merit-based scholarship for the 2025-2026 academic year. This year’s group of PCAOB Scholars is the largest in the history of the program to date. 

PCAOB Awards Largest-Ever Number of Merit-Based Scholarships 

July 15 – PCAOB Chair Erica Y. Williams announced her departure, ending a tenure marked by record accomplishments. 

Chair Williams to Depart PCAOB July 22 Following Record Accomplishments 

July 29 – The Center for Audit Quality (CAQ) has published the findings of a survey that focused on the frequency and nature of fraud in publicly traded companies.  

Institutional Investor Survey | Research Findings, Fraud 

July 21 – The IAASB has released a new non-authoritative publication—How the IAASB’s Revised Going Concern and Fraud Standards Reinforce Professional Skepticism—to assist stakeholders in understanding how the revisions to ISA 570 (Revised 2024) and ISA 240 (Revised) strengthen the consistent application of professional skepticism throughout the audit. 

 IAASB Highlights How Revised Standards Reinforce Professional Skepticism | IAASB 

July 8 – The IAASB has revised International Standard on Auditing (ISA) 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements. The updated standard responds to global scrutiny and stakeholder concern regarding the auditor’s role in detecting fraud.  

IAASB Revises Fraud Standard to Enhance Public Trust | IAASB

July 4 – The CNDEC has published a document that will provide professionals with concrete tools and guidance to ensure high-quality, consistent assurance practices.  

Sustainability reporting, the importance of assurance – Press 

July 8 – The Public Interest Oversight Board (PIOB) is pleased to announce the Certification of the International Standard on Auditing 240 (Revised), The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements, as approved by the International Auditing and Assurance Standards Board (IAASB) in March 2025. 

PIOB Certifies ISA 240 

July 15 – The Independent Regulatory Board for Auditors (IRBA) is pleased to announce the appointment of Saadiya Adam as the Director: Standards effective 1 July. Saadiya has been Acting Director: Standards since December 2024. 

Saadiya Adam appointed Director: Standards at the IRBA 

July 21 – The Securities and Exchange Commission has designated George R. Botic to serve as Acting Chair of the Public Company Accounting Oversight Board, effective July 23, 2025. 

SEC Announces George Botic to Serve as Acting Chair of the PCAOB 

July 31 – The AASB, AUASB and CA ANZ have published an independent research report on climate-related disclosures and assurance in the 2023 and 2024 annual reports of ASX-listed entities. 

Preparedness of ASX-listed entities for climate-related reporting and assurance requirements 

July 30 – UN climate chief Simon Stiell joined Australian leaders in Sydney to launch the Sustainability Reporting Community of Practice, a new initiative aimed at accelerating climate and sustainability reporting across the private sector. UNGCNA, ASX, CA ANZ launch new initiative to fast-track climate and sustainability reporting 

July 23 – EFRAG has launched its new "EFRAG 2025 State of Play" portal — a live, interactive platform presenting key insights from its latest market study on the early implementation of the European Sustainability Reporting Standards (ESRS) under the Corporate Sustainability Reporting Directive (CSRD).  

EFRAG Launches ESRS Statistics and Report Portal on the 2025-Issued ESRS Sustainability Statements 

July 29 – The European Commission has today adopted a recommendation on voluntary sustainability reporting for small and medium-sized companies (SMEs). The recommendation presents a voluntary standard that will make it easier for SMEs that are not covered by the Corporate Sustainability Reporting Directive (CSRD) to respond to specific requests for sustainability information from large financial institutions and companies. 

Commission presents voluntary sustainability reporting standard to ease burden on SMEs 

July 10 – The IAASB has announced the recent formation of the IEESA Implementation Monitoring Advisory Group (IIMAG) to support the implementation of the IESSA and revisions to the IESBA code for sustainability reporting.  

 New Expert Group to Support Global Implementation of Sustainability Standards 

July 30 – The IESBA  has released two implementation support publications to help sustainability assurance practitioners understand and apply the International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA): Key Differences and a List of PIE Prohibitions. 

IESBA Staff Releases Additional Implementation Support Materials for IESSA 

July 10 – The IESBA has established the IESSA Implementation Monitoring Advisory Group (IIMAG) to support the support the implementation of the International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA) and Revisions to the IESBA Code for Sustainability Reporting. 

Expert Group to Support Global Implementation of Sustainability Standards   

July 10 – The IFRS Foundation has published educational material to help companies understand the role of the ISSB industry-based guidance—which collectively refers to the SASB Standards and the Industry-based Guidance on Implementing IFRS S2—when applying IFRS Sustainability Disclosure Standards (ISSB Standards). 

IFRS Foundation publishes educational material about using ISSB Industry-based Guidance 

July 18 – Minister Burke has signed into law Statutory Instrument S.I. No. 309/2025- European Union (Corporate Sustainability Reporting) Regulations 2025. The purpose of this Statutory Instrument (S.I.) is to transpose the ‘stop the clock’ EU Directive into Irish law and to amend the anomalies that were present in previous S.I.s relating to the transposition of the CSRD.   

New CSRD Regulations signed into Irish law 

July 29 – The Financial Reporting Council (FRC), as secretariat to the UK Sustainability Disclosure Technical Advisory Committee (TAC), is inviting stakeholders to complete a short survey by Friday 29 August, to provide views on amendments set out in the ISSB’s exposure drafts.  

UK Sustainability Disclosure TAC seeks views on ISSB amendments 

July 8 – The ACCA and Chartered Accountants Australia and New Zealand (CA ANZ) have collaborated to plan a series of practical guides to some of the key requirements of the ISSA 5000. 

ACCA and Chartered Accountants ANZ call for consistent application of sustainability assurance standards 

July 21 – The CAQ has published its findings on sustainability assurance trends based on data from S&P 500 companies. 

S&P 500 Companies’ Sustainability Reporting and Assurance Practices 

July 31 – The IESBA has issued a Staff Alert highlighting key ethical matters that accounting firms should pay particular attention to when considering or accepting investment from private equity organizations  

PE Investment in Accounting Firms and Related Ethical and Independence Considerations 

July 18 – The IESBA has published a short video with Program and Senior Director Ken Siong discussing a recent shift in how the IESBA develops its international ethics and independence standards: the Staff Driven Model.  

IESBA Focus: The Staff Driven Model 

June 30 – The revised CAS 570, Going Concern, issued on June 1, 2025, introduces enhancements to the auditor’s responsibilities in the audit of financial statements relating to going concern and increased transparency in the auditor’s report. 

 Attention Management and Auditors: Revised CAS 570, Going Concern Brings Changes to the Auditor’s Expectation for Management’s Going Concern Assessment Timeline 
 

June 16 – In collaboration with the International Public Sector Accounting Standards Board (IPSASB), IFAC has published a new resource, Implementing International Public Sector Accounting Standards (IPSAS): IFAC Tools, a compilation of our resources designed to help governments and public sector entities adopt and implement IPSAS Standards and help Professional Accountancy Organizations (PAOs) advocate for their use. 

 Practical Tools to Support IPSAS Implementation: New Resource From IFAC | IFAC 

June 3 – The Council and National Foundation of Accountants’ second operational guide, “Intelligent Help to the Accountant,” provides a dual-purpose update: highlighting key AI innovations in accounting and tax, and offering practical advice for leveraging these tools to boost service efficiency, accuracy, and quality. 

 Artificial intelligence, the second operational guide from Accountants – Press 
 

June 6 – The Financial Reporting Council (FRC) has published its first guidance on the use of artificial intelligence (AI) in audit, alongside a thematic review of the six largest firms’ processes to certify new technology used in audits. 

 FRC publishes landmark guidance providing clarity to audit profession on the uses of AI 

June 30 – The accountancy profession could significantly improve the delivery of relevant and reliable corporate reporting information if they grasp IT opportunities. This is the key finding of the latest collaboration between academics and professional accountants on the role of technology in corporate reporting. 

Technology can transform corporate reporting   | ACCA Global 

June 4 – The Independent Regulatory Board for Auditors (IRBA) has released its 2023/2024 Annual Enforcement Report, showcasing a significant increase in enforcement activity and reaffirming its unwavering commitment to upholding the integrity of the auditing profession. 

 IRBA Strengthens Auditor Accountability with Record Enforcement Actions in 2023/2024 - IRBA 

June 30 – The IAASB has published a new Frequently Asked Questions document for the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE), its standard tailored for financial audits of smaller and less complex entities.  

IAASB Releases New FAQ for the ISA for LCE | IAASB 

June 1 – Accountancy Europe has released a statement on the Omnibus proposal.  

Accountancy Europe’s omnibus statement: ESRS revision proposals - Accountancy Europe 

June 26 – The Canadian Sustainability Standards Board (CSSB) finalized CSDS 1 and CSDS 2, in addition to its Criteria for Modification Framework. 

 Canadian Sustainability Disclosure Standards (CSDS 1 and CSDS 2): Now Available
 

June 26 – The CSSB has published a new resource: Guide on Adopting a Climate-first Approach in Sustainability Reporting. This guide helps entities and their advisors comply with CSDS 1 and CSDS 2 when using the transition relief and disclosing information on climate-related risks and opportunities only, in accordance with CSDS 2 

CSSB releases new resource: Guide on Adopting a Climate-first Approach in Sustainability Reporting 
 

June 20 – EFRAG has published its Progress Report (as of 20 June) providing an update of the work performed so far and of the activated levers to simplify the European Sustainability Reporting Standards (ESRS). 

 EFRAG Releases Progress Report on ESRS Simplification | EFRAG 
 

June 25 –  Due to the ongoing revision of the ESRS, the IDW has decided to pause the finalization of its eleven draft modules.   

First sentence of the ESRS: Status of the revision and impact on IDW RS FAB 100 
 

May 12 – Almost 3-in-4 of the largest global companies sought assurance on some aspect of their sustainability disclosures, according to an updated report from the International Federation of Accountants (IFAC) and AICPA & CIMA. The study marks the fifth annual benchmark that now includes 2023 data. More Global Companies Seek Assurance on Sustainability Reporting, Study by IFAC, AICPA & CIMA Shows
 

June 30 – As a further step in their collaboration, GRI and the Taskforce on Nature-related Financial Disclosures (TNFD) have launched a new set of case studies that highlight how companies are assessing and disclosing nature-related dependencies, impacts, risks, and opportunities – and how these dimensions are interconnected.  

 GRI - GRI and TNFD advance nature reporting through practical guidance 
 

June 26 – Recognizing that an escalating climate crisis calls for integrated and global solutions, GRI has launched new Climate Change and Energy Standards to empower organizations to take accountability for their impacts and accelerate climate action.  

 GRI - New Climate Standards can unlock actionable and streamlined reporting on impacts 
 

June 19 – GRI has launched its Sustainability Taxonomy, a machine-readable version of the GRI Standards that enables faster data collection and improved comparability of sustainability disclosures by using XBRL - the global language for business reporting.  

GRI - A digital leap forward for sustainability reporting 
 

June 12 – The Hong Kong Institute of Certified Public Accountants (HKICPA) welcomes the IFRS Foundation’s publication of Jurisdictional Profiles on adoption of ISSB Standards (Profiles), which recognizes Hong Kong’s leading progress in aligning the local sustainability disclosure standards with the corresponding global baseline. 

HKICPA welcomes the publication of Jurisdictional Profiles on adoption of ISSB Standards by the IFRS Foundation 
 

June 11 – The Staffs of the IAASB and the IESBA today released two new publications to support implementation of the IAASB’s and IESBA’s global sustainability-related standards: the International Standard on Sustainability Assurance (ISSA) 5000 and the International Ethics Standards for Sustainability Assurance (IESSA). 

 IAASB and IESBA Staff Provide Answers to Key Questions on Implementing ISSA 5000 and IESSA | IAASB 
 

June 11 – The Staffs of the IESBA and the IAASB released two new publications to support implementation of the IAASB’s and IESBA’s global sustainability-related standards: the International Standard on Sustainability Assurance (ISSA) 5000 and the International Ethics Standards for Sustainability Assurance (IESSA). 

 IAASB and IESBA Staff Provide Answers to Key Questions on Implementing ISSA 5000 and IESSA | Ethics Board 
 

June 18 – IFAC, in collaboration with the Edinburgh Group (EG), has launched The Small Business Sustainability Checklist, a pioneering online tool designed to help small- and medium-sized enterprises (SMEs) maximize the benefits of incorporating sustainability into their strategy and business operations. 

 IFAC Releases Trailblazing Sustainability Tool for Small Businesses | IFAC 
 

June 23 – The IFRS Foundation has published a new guidance document Disclosing information about an entity’s climate-related transition, including information about transition plans, in accordance with IFRS S2 as part of its commitment to supporting the implementation of IFRS Sustainability Disclosure Standards (ISSB Standards).  

 IFRS - IFRS Foundation publishes guidance on disclosures about transition plans 
 

June 17 – To better address public sector need, the IPSASB has decided to split its climate-related disclosure project into two phases: Phase 1 will focus on reporting climate risks in public sector operations, with a standard expected by December 2025, and Phase 2 will develop separate guidance for entities managing climate-related public policies, targeted for 2026. 

 IPSASB Decides Key Next Steps in Landmark Climate-related Disclosures Project | IPSASB 
 

June 26 – The International Sustainability Standards Board (ISSB) is pleased to announce that the Global Sustainability Standards Board (GSSB) has granted equivalence to IFRS S2 Climate-related Disclosures for entities preparing disclosures of greenhouse gas (GHG) emissions under GRI 102, the new climate standard issued by the GSSB. 

IFRS - GRI 102 and IFRS S2—Reporting on both standards and equivalence for IFRS S2 on GHG Emissions Disclosures 
 

June 25 – The NBA is asking accountants to participate in the IFAC SME Sustainability Information Survey. The results will contribute to global insights and help develop best practices. In addition, they provide insight into appropriate regulations and assurance around sustainability reporting for SMEs. 

 IFAC survey on sustainability information among SMEs 
 

June 16 – The TNFD has commenced it next phase of work on nature-related data solutions, involving over 40 upstream naturedata providers and over 20 downstream users, intermediaries, and implementation partners across sectors 

tnfd.global/tnfd-commences-next-phase-of-work-on-nature-related-data-solutions/ 
 

June 26 –  The Chartered Institute of Management Accountants (CIMA) has welcomed the publication of the exposure drafts of the UK Sustainability Reporting Standards (UK SRS), which set a clear and practical structure for sustainability-related financial reporting. 

CIMA welcomes UK SRS exposure drafts |  AICPA & CIMA
 

June 26 – The Center for Audit Quality found that while most of the S&P 500 reported sustainability information in 2023, there remains inconsistency in how some assurance providers describe compliance with IAASB standards, raising concerns about comparability.  

www.thecaq.org/sp-500-and-esg-reporting  

June 30 – At its June Board meeting, the IESBA approved updates to its 2025-2026 Work Plan to better support ethical behavior and independent judgment in an increasingly volatile and uncertain environment. 

IESBA Updates Work Plan to Support Ethical Leadership in Times of Uncertainty | Ethics Board 

June 30 – OCED published a 2024 progress report on its efforts to help developing countries improve their tax systems. The report highlights achievements in tax transparency, international cooperation, and technical assistance, and outlines future priorities based on an independent evaluation. 

 Tax Co-operation for Development | OECD 

May 26 - The Australian Accounting Standards Board (AASB), the Malaysian Accounting Standards Board (MASB), and CPA Australia have today released AASB Research Report 24 / MASB Research Report 3 – Addressing Key Accounting Challenges. This joint Report, informed by a collaborative survey conducted in January 2025 and a review of published financial statements, provides valuable insights into stakeholder perspectives on accounting issues that warrant attention and prioritisation.

AASB, MASB, and CPA Australia Launch Joint Research Report Addressing Key Accounting Challenges
 

May 12 – The Financial Accounting Standards Board (FASB) today published an Accounting Standards Update (ASU) that improves the requirements for identifying the accounting acquirer in FASB Accounting Standards Codification® Topic 805, Business Combinations. The ASU is based on a recommendation of the Emerging Issues Task Force (EITF). FASB Issues Standard That Clarifies Guidance for Identifying the Accounting Acquirer in a Business Combination
 

May 28 – The IFRS Foundation has published new educational materials to support the application of Section 11 Financial Instruments of the third edition of the IFRS for SMEs Accounting Standard.

New educational materials to support implementation of the IFRS for SMEs Accounting Standard

May 2 – Crypto-asset service providers (CASPs) are subject to the Money Laundering and Terrorist Financing (Prevention) Act (Wwft) and the Sanctions Act 1977 (Sanctions Act). In addition, CASPs must comply with the Transfer of Funds Regulation (TFR).

Supplement to Wwft/Sw guidelines for providers of crypto asset services

May 14 – The International Auditing and Assurance Standards Board (IAASB) has published a new Frequently Asked Questions (FAQ) document to support stakeholders as they implement International Standard on Auditing 570 (Revised 2024), Going Concern.

New FAQ on Going Concern Now Available from IAASB
 

May 8 – The International Auditing and Assurance Standards Boards (IAASB) has approved the withdrawal of International Standard on Assurance Engagements (ISAE) 3410, Assurance Engagements on Greenhouse Gas Statements.

IAASB Announces Withdrawal of ISAE 3410 for Assurance Engagements on Greenhouse Gas Statements
 

May 27 – The Institute’s quality assurance team visited 401 firms and reviewed work on 790 audits in the year which were selected as those likely to be the firms’ most complex or challenging audits.

ICAEW has today (Tuesday 27 May 2025) published its audit monitoring report for 2024.
 

May 14 – The Financial Reporting Council (FRC) has today published its final report from its market study into the audit market for NHS providers and Integrated Care Boards (ICBs) providing insight to support government’s reform of the wider local audit system.

FRC study provides insights for NHS audit market reform
 

May 12 - Monitoring audit compliance remains central to our role as a regulator. In 2024, our audit monitoring visits revealed a significant amount of good audit work. However, we also noted a slight uptick in compliance issues compared to the previous year. In this article, we outline the key findings from our 2024 reviews. Common findings from the 2024 audit monitoring visits

May 9 – Chartered Accountants Australia and New Zealand (CA ANZ), as a founding member of the A4S Accounting Bodies Network (ABN), is proud to announce that we have endorsed the five new core principles developed by the ABN. These principles are designed to position the accountancy profession as a key driver in the transition to a sustainable future.

CA ANZ endorses new global sustainability principles for accounting bodies
 

May 12 -  Almost 3-in-4 of the largest global companies sought assurance on some aspect of their sustainability disclosures, according to an updated report from the International Federation of Accountants (IFAC) and AICPA & CIMA. The study marks the fifth annual benchmark that now includes 2023 data.  More Global Companies Seek Assurance on Sustainability Reporting, Study by IFAC, AICPA & CIMA Shows | IFAC
 

May 29 – The IFRS Foundation has published today educational material about the requirements in IFRS S2 Climate-related Disclosures related to measurement and disclosure of greenhouse gas (GHG) emissions. This material is structured as questions and answers about the requirements for an entity to disclose its GHG emissions in accordance with IFRS S2.  IFRS Foundation publishes educational material about greenhouse gas emissions disclosure requirements in IFRS S2
 

May 12 – Almost 3-in-4 of the largest global companies sought assurance on some aspect of their sustainability disclosures, according to an updated report from the International Federation of Accountants (IFAC) and AICPA & CIMA. The study marks the fifth annual benchmark that now includes 2023 data. More Global Companies Seek Assurance on Sustainability Reporting, Study by IFAC, AICPA & CIMA Shows

May 8 – The Staff of the International Ethics Standards Board for Accountants (IESBA) today released a questions and answers (Q&A) publication to support the adoption and implementation of the IESBA Tax Planning and Related Services Standards. 

IESBA Staff Releases Q&As on the Tax Planning and Related Services Standards in the IESBA Code

April 9 – The IAASB has released its revised International Standard on Auditing 570 (Revised 2024), Going Concern. The revised standard responds to corporate failures that raised questions regarding auditors’ responsibilities by significantly enhancing the auditor’s work in evaluating management’s assessment of an entity’s ability to continue as a going concern. 

IAASB Strengthens Auditor Responsibilities for Going Concern through Revised Standard | IAASB 

April 7 – ICAS has introduced new guidance on how it will deal with non-compliance with AML requirements.  New AML Regulatory Actions Guidance now in use - ICAS 

April 14 – A new report from Chartered Accountants Worldwide (CAW) reveals significant enthusiasm about the use of AI in the profession, with 85% of respondents expressing willingness to use AI tools - and 91% of those aged 18–24 already using the technology. 

Significant enthusiasm for artificial intelligence (AI) amongst Chartered Accountants – new research shows - CAI  
 

April 10 – The Financial Services Agency has published the English version of “Preliminary Discussion Points for Promoting the Sound Utilization of AI in the Financial Sector”, an AI Discussion paper released last month. The paper can be read here. 

Publication of AI discussion paper 
 

April 14 – A new landmark survey on artificial intelligence by Chartered Accountants Worldwide (CAW) reveals that the profession is embracing AI to deliver value, but realising its potential demands upskilling and proactive leadership. 

Accountancy demands upskilling and leadership to maximise AI transformation potential - ICAS 

April 11 – In a submission to the Australian National Audit Office (ANAO) report on ASIC’s Effectiveness in Regulating Registered Company Auditors, CPA Australia says urgent action is needed to make audit regulation more supportive and sustainable. 

Urgent action needed to safeguard the future of auditing in Australia | CPA Australia 
 

April 1 – The CPAB has published its Regulatory Oversight Report 2024: Annual Inspections Results 2024 annual inspection results | CPAB 
 

April 28 – The IAASA has released the first publication of its Audit Quality Supervision Inspection Insight Series. This publication focuses on key messages on auditing related parties.  

IAASA’s Audit Quality Supervision Inspection Insight Series: Auditing Related Parties - IAASA 
 

April 17 – The NBA has conducted an analysis of the way auditors reported on fraud and continuity in their audit reports in 2023. These reports provide insight into how accountants implement the provisions of Standard 700.29, 700.29A/B and 700.A41 in practice. 

NBA analyzes reporting on fraud and continuity in audit reports 2023 
 

April 3 – The Independent Regulatory Board for Auditors (IRBA) has released its 2024 Public Inspections Report, highlighting important strides in audit quality across South African audit firms inspected. The report also presents the key deficiencies, themes and trends observed during the year’s inspections cycle.  

IRBA 2024 Public Inspections Report Highlights Steady Improvement in Audit Quality - IRBA 
 

April 29 – Leading global body ACCA (the Association of Chartered Certified Accountants), is calling on the UK regulator to ensure that audit requirements for SMEs are proportionate, aligning with prevailing international standards. 

ACCA presses audit regulator to drive proportionate SME audit requirements | ACCA Global 

April 10 – The Public Interest Oversight Board (PIOB) is pleased to announce the Certification of the International Standard on Auditing (ISA) 570 (Revised 2024) Going Concern, as approved by the IAASB in December 2024. PIOB_press_release-IAASB_Going_Concern 

April 9 – Accountancy Europe has released a statement regarding due process of ESRS 1.  

Accountancy Europe’s omnibus statement: ESRS revision due process - Accountancy Europe 
 

April 24 – EFRAG has officially submitted its work plan to the European Commission outlining the steps it will take to fulfil the specific mandate received on 27 March 2025 to provide technical advice on the revision and simplification of the European Sustainability Reporting Standards (ESRS). The plan is available here. 

EFRAG delivers Work Plan to the European Commission in response to ESRS Simplification Mandate | EFRAG 
 

April 22 – EFRAG is pleased to announce its participation as an Observing Entity on the GHG Protocol Independent Standards Board (ISB), joining other key global standard-setting and disclosure organisations. The GHG Protocol welcomed five new Observing Entities, including EFRAG, CDP, GRI, ISSB, and SBTi, to support enhanced collaboration and alignment across the greenhouse gas (GHG) accounting and reporting ecosystem. 

EFRAG Joins GHG Protocol Independent Standards Board as Observing Entity | EFRAG  

April 30 – GRI has published an updated Q&A on the CSRD that addresses some of the key questions from GRI reporting companies, covering topics such as: GRI-EFRAG collaboration, the double materiality approach, and interoperability with  

ESRS and IFRS.  GRI - EU Omnibus and the CSRD: key questions answered 
 

April 28 – The Summit, a multi-stakeholder event convened by IAASB, IESBA, and IFAC, highlighted IAASB’s central role in advancing global standards for sustainability assurance. 

IFAC and IESBA, alongside IAASB, Convened Successful Multi-Stakeholder Summit | IAASB 
 

April 28 – The International Federation of Accountants (IFAC) and the International Ethics Standards Board for Accountants (IESBA), alongside the International Auditing and Assurance Standards Board (IAASB), convened a multi-stakeholder Summit in Paris on 14 April 2025.  

IFAC and IESBA, alongside IAASB, Convened Successful Multi-Stakeholder Summit | IESBA 
 

April 28 – On April 14, 2025, IFAC, IESBA, and IAASB convened a multi-stakeholder summit in Paris. This summit aimed to address the practical implementation of the newly approved International Ethics Standards for Sustainability Assurance (IESSA) and to strengthen collaboration among global standard-setting bodies in the evolving landscape of sustainability assurance.  IFAC and IESBA, alongside IAASB, Convened Successful Multi-Stakeholder Summit 
 

April 23 – The Inter-American Development Bank (IDB), IDB Invest, and the IFRS Foundation have formalized a strategic partnership to promote the adoption and implementation of the IFRS Sustainability Disclosure Standards across Latin America and the Caribbean. 

IFRS - IDB and IFRS Foundation promote adoption of Sustainability Disclosure Standards 

April 9 – The IFRS Foundation and the Taskforce on Nature-related Financial Disclosures (TNFD) have announced that they have signed a Memorandum of Understanding (MoU) signalling both parties’ commitment to build upon the TNFD recommendations in the ongoing work of the ISSB to enable nature-related financial disclosures for use by capital markets. 

IFRS Foundation and TNFD formalise collaboration 
 

April 17 – In light of proposals of the Omnibus simplification Package on sustainability, the CNDEC published an analysis emphasizing the importance of integrating environmental, social, and governance (ESG) factors into business practices to ensure long-term value creation and continuity, particularly for small and medium-sized enterprises (SMEs). 

Accountants, new document on sustainability, governance and finance – Press 
 

April 9 – The TNFD and the IFRS Foundation have announced that they have signed a Memorandum of Understanding signalling both parties’ commitment to build upon the TNFD recommendations in the ongoing work of the International Sustainability Standards Board (ISSB), to enable nature-related financial disclosures for use by capital markets 

IFRS Foundation and TNFD formalise collaboration 

April 9 – Following public consultation last year, IAASA has published a revised Ethical Standard for Auditors (Ireland) which will be effective December 15th, 2026.  

IAASA has published a revised Ethical Standard for Auditors (Ireland) - IAASA 
 

April 1 – Chartered accountancy body ICAEW has confirmed new updates to its Code of Ethics, to align with the Code produced by the International Ethics Standards Board for Accountants (IESBA), following approval by ICAEW’s Council in March 2025.  

ICAEW updates its Code of Ethics | ICAEW 

March 31 – At its meeting on 27 February 2025, the EFRAG Financial Reporting Board (EFRAG FRB) approved the composition of the EFRAG Financial Reporting Technical Expert Group (EFRAG FR TEG), welcoming new members, confirming reappointments, and acknowledging contributions to the group’s work. 

EFRAG announces the New Composition of the EFRAG FR TEG | EFRAG 
 

March 18 – FASB has announced that the U.S. Securities and Exchange Commission (SEC) has accepted the 2025 GAAP Financial Reporting Taxonomy (GRT), the 2025 SEC Reporting Taxonomy (SRT), and the 2025 GAAP Employee Benefit Plan Taxonomy (EBPT). In addition, FASB finalized the 2025 DQC Rules Taxonomy (DQCRT) and the 2025 GAAP Meta Model Relationships Taxonomy (MMT). 

SEC Accepts 2025 FASB Taxonomies 
 

March 1 – The ICAI published a report revealing insights on the voluntary adoption of Integrated Reporting (IR) by Indian corporations from FY 2015- 16 through FY 2022-23.  

Integrated Reporting: Trends in India  and Professional Opportunities 

March 31 – The FSA has finalized the Discussion Paper on "Issues and Practices for Dialogue on Validation of AML/CFT Frameworks," outlining the "validation of effectiveness" requirements for Financial Institutions (FIs) under the AML/CFT Guidelines, and providing guidance for FIs and the FSA on ongoing dialogue. The paper reflects amendments based on public consultation feedback. 

Publication of the finalized Discussion Paper on AML/CFT Frameworks 
 

March 19 – The NBA has published 1153 Fraud Risk Analysis, a guide to help auditors to properly apply the standards when making their fraud risk analysis as part of the overall risk analysis.  

NBA guide 1153: Fraud risk analysis 
 

March 27 – With fraud continuing to plague businesses and the wider economy, the Association of Chartered Certified Accountants (ACCA) and the Association of Certified Fraud Examiners (ACFE) have signed a Memorandum of Understanding (MoU) to collaborate in key areas, including thought leadership research and learning.  

Latest business & finance and accounting news from ACCA | ACC | ACCA Global 

March 7 – Following an initial study conducted in 2022 on automating the processing of risk disclosures in listed company documents, the French Financial Markets Authority (AMF) continued its work in 2023 and 2024 to explore the potential of artificial intelligence and automated extraction tools in the analysis of regulatory reporting. Read the report here.  

AI and possibility for automated processing of regulatory reporting insights | AMF 

 

March 27 – IFIAR has released its 2025 report on the ‘use of technology in audits – observations, risks and further evolution’. This report presents information and perspectives on the use of technology in audits. Click here to access the report. 

IFIAR releases 2025 Report on the use of technology in audits – IFIAR 
 

March 12 – IOSCO has published a new substantive report that addresses the rise of Artificial Intelligence (AI) use in capital markets and its impact on investors globally 

IOSCO publishes new Consultation Report on Artificial Intelligence in Capital Markets: Use Cases, Risks, and Challenges 

March 24 – The CPAB has announced the approval of rule and legislative amendments required to increase the disclosure of its regulatory assessment results. 

2025-release-dislcosures-phase-2 | CPAB 
 

March 17 – IFIAR has released its thirteenth annual survey of inspection findings arising from its Member regulators’ individual inspections of audit firms affiliated with the six largest global audit firm networks. Please click here to access the 2024 Inspection Findings Survey and related documents. IFIAR releases 2024 Report on Annual Survey of Audit Inspection Findings – IFIAR 
 

March 10 – IAASA’s 2024 review reports of audit firms of public-interest entities show a slight improvement in audit quality, with 19% of files needing improvement, down from 23% in 2023 but higher than 2022’s 11%. Firmwide quality management findings increased to 15, up from 5 in 2023. Common issues included financial disclosures and management override risks. While most audits were rated good, IAASA urged firms to address the causes of poor audit quality and improve conflict-of-interest procedures. 

IAASA publishes reports on the quality assurance review of firms that audit public- interest entities - IAASA 
 

March 31 – The PCAOB’s 2024 inspection results show significant improvements in audit quality, with overall deficiency rates dropping to 39%, down from 46% in 2023. The Big Four's deficiency rate decreased to 20%, and U.S. Global Network Firms to 26%. 

PCAOB Posts Report Detailing Significant Improvements | PCAOB 
 

March 19 – As part of its campaign to support small and medium-sized enterprises (SMEs) access audit services, the FRC has published the first in its series of supporting materials to help SMEs to engage with the annual audit process effectively and confidently. 

The FRC publishes first in a series of materials to support SMEs understand audit requirements 

March 27 – The IAASB released a new first-time implementation guide for the ISA for LCE—the standalone global auditing standard designed specifically for audits of financial statements of smaller and less complex entities (LCE). The guide provides an overview of the standard’s concepts, structure, and format.  

IAASB Releases Comprehensive Implementation Guide for the ISA for LCE | IAASB 

March 20 – CA ANZ published a report highlighting the growing trend of companies disclosing the financial impacts of climate-related risks in their financial statements. 

Research into the effects of climate-related risks on financial statements | CA ANZ 
 

March 18 – EFRAG, Europe’s voice in corporate reporting and CDP, the global independent environmental disclosure system, published a correspondence mapping between the ESRS and the CDP question bank, illustrating the high level of commonality announced at COP29.  

CDP and EFRAG publish correspondence mapping between CDP question bank and ESRS 1 | EFRAG 
 

March 26 – The GRI is seeking peer reviewers to evaluate the technical terminology of the GRI Climate Change and Energy Standards, ensuring consistency, clarity and accuracy. Specifically, the organization is specifically looking for subject-matter experts in climate change and energy who are native speakers of French, Italian, German, Portuguese or Traditional Chinese.  

GRI - Strengthening global scope of the GRI Standards 
 

March 13 – IFAC has finalized revisions to the International Education Standards to embed sustainability throughout aspiring professional accountants' training.  

IFAC Enhances International Education Standards to Equip Professional Accountants for Sustainability Reporting | IFAC 
 

March 19 – The CAI has approved certain Institute Registered Auditors (audit firms), and responsible individuals (RIs) at those firms, to carry out sustainability assurance engagements in Ireland, pursuant to the EU Corporate Sustainability Reporting Directive (CSRD) as transposed into Irish law. Approval to carry out sustainability assurance engagements (Ireland) 
 

March 20 – In a joint representation to the Sustainability Reporting Standards Exposure Draft 1 on Climate-related disclosures, the chartered accountancy bodies expressed concerns that the proposed definition of climate-related public policy programs – which limits company disclosures to policies with climate-related outcomes as their primary objective – was too narrow.  

Broader climate-related disclosures needed to combat greenwashing | ICAEW 

March 3 – Launched by the Global Accounting Alliance (GAA), and developed by a team led by ICAEW, the guide ‘Why Nature Matters To Accountants’ explores how nature risk is linked to financial risk, and how nature connects to the professional responsibilities of accountants. 

New guide for accountants to build resilience and value by embedding nature published | ICAEW 

February 12 – The AASB has issued AASB 2025-1 Amendments to Australian Accounting Standards – Contracts Referencing Nature-dependent Electricity to amend AASB 7 and AASB 9. The amendments clarify the application of the ‘own-use’ criteria, permit hedge accounting (if appropriate) and add new disclosure requirements.

 AASB issues amendments for Power Purchase Agreements
 

February 17 – According to the IFRS Foundation, the update to Section 23 – Revenue, of the Accounting Standard for Small and Medium-sized Enterprises (SMEs), could impact up to 9 million companies that can adopt the standard for SMEs in Brazil.

IFRS Foundation updates Accounting Standard for SMEs that can impact 9 million Brazilian companies
 

February 27 – IASB has today issued a major update to the IFRS for SMEs Accounting Standard, which is currently required or permitted in 85 jurisdictions. This Standard aims to balance the information needs of lenders and other users of SMEs’ financial statements with the resources available to SMEs. IFRS - IASB issues a major update to the IFRS for SMEs Accounting Standard
 

February 3 – The CNDEC has announced the adoption of two new principles regarding sustainability reporting in Italy: the Italian Principle of Ethics and Independence for Sustainability Reporting Attestation  and the National Principle for the Attestation of Sustainability Reporting.

The State General Accounting Office adopts two new Reporting Standards – Press

February 12 – Accountancy Europe’s latest factsheet provides an overview of the EU AI Act’s main provisions, with particular focus on their potential impact on SMEs. The factsheet aims to inform SMEs, their advisors as well as smaller accountancy practitioners themselves about ways in which the AI Act might impact their business.

The EU AI Act: a guide for SME accountants - Accountancy Europe
 

February 17 – The IDW has developed an AI tool that answers technical questions based on the IDW announcements and the ISA (DE). Designed specifically to meet the needs of auditors, the AI Pioneer Playground is available to IDW members for testing, free of charge, until the end of March.

AI tool AI Pioneer Playground - use the test phase
 

February 11 – The Consultative Committee of Accountancy Bodies – Ireland,  in collaboration with the CAI, has prepared Technical Alert TA01-2025  containing some pointers for firms to consider in their use of artificial intelligence (AI). All firms should be considering putting a policy in place whether it’s just to cover basic points such as if your trainees (or other employees) are permitted to use AI in the office or whether you need more extensive provisions. The pointers in our technical alert and links included in it may be of use to members.

Pointers for a firm’s artificial intelligence policy - ..rteredaccountants.ie
 

February 27 – According to the latest in the series of ACCA’s AI Monitor reports, Risk and responsibility, AI tools augment human capabilities while raising new questions about control, reliability and professional responsibility.

Accountants’ professional judgement critical to success in the age of AI | ACCA Global

February 5 – On February 4, 2025, the Indonesia Financial Services Authority (OJK) highlighted its efforts to improve governance and risk management using combined assurance and the Global Internal Audit Standard (GIAS). The event focused on enhancing internal controls, risk management, and collaboration, aiming to adapt to technological changes and improve OJK's effectiveness in addressing future risks.

Press Release: Internal Governance Strengthening, OJK Holds Internal Supervision Work Meeting "NGOPI PAGI"
 

February 13 – The PCAOB has posted a new series of knowledge checks designed to help auditors gauge their understanding of important aspects of QC 1000, A Firm’s System of Quality Control. Topics covered in the knowledge checks include risk assessment, roles and responsibilities under QC 1000, considerations related to ethics and independence, and more.

PCAOB Posts New Knowledge Checks To Help Auditors Gauge Understanding of New QC Standard | PCAOB

February 5 – The NBA has supplemented Alert 48 to further support members in carrying out the audit of local authorities for 2024. This NBA Alert deals with the impact of imperfect regulations on the audit and the formation of an opinion on the fairness of the legality accounts in the 2024 financial statements of municipalities, provinces and their joint schemes.

NBA Alert 48 supplemented for audit of local authorities 2024
 

February 27 – The PCAOB has posted a new knowledge check designed to help auditors gauge their understanding of important aspects of AS 2310, The Auditor’s Use of Confirmation. This new standard replaces an interim standard, AS 2310, The Confirmation Process, and is effective for audits of financial statements for fiscal years ending on or after June 15, 2025.

PCAOB Posts New Knowledge Check To Help Auditors Gauge Understanding of New Confirmation Standard | PCAOB

February 27 – Accountancy Europe has announced its support of the European Commission’s efforts to simplify sustainability rules, including the CSRD, while maintaining EU Green Deal goals.

Accountancy Europe’s initial comments on EC first omnibus package on sustainability - Accountancy Europe

February 4 – Accountancy Europe has created a table summarizing key aspects of the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD) to highlight their complementary objectives.

CSRD & CSDDD: key provisions and concepts - Accountancy Europe
 

February 27 – Accountancy Europe provides initial comments on the European Commission’s first omnibus package on sustainability.  https://accountancyeurope.eu/news/accountancy-europes-initial-comments-on-the-european-commission-proposal-to-simplify-sustainability-rules-for-companies/

February 26 – The European Commission has published a Q&A regarding omnibus I and II. Amongst key updates, the Commission will revise the delegated act establishing the ESRS, with the aim of substantially reducing the number of data points, clarifying provisions deemed unclear, improving consistency with other pieces of legislation and reducing the number of data points.  Questions and answers on simplification omnibus I and II

February 25 – The European Commission has adopted a new package of proposals to simplify sustainability reporting, reduce burdens, and support a more efficient regulatory environment.

Commission simplifies rules on sustainability and EU investments
 

February 26 – To further facilitate adoption of GRI 101: Biodiversity 2024 – set to take effect for reporting on 1 January 2026 – five companies that participated in the GRI Community Biodiversity Pilot have shared their experiences as pioneers in reporting with the new Standard, through a series of case studies.  

GRI - Early adopters of GRI Biodiversity Standard offer practical guidance

February 11 – A recent study by GRI and Deloitte Netherlands highlights the growing trend of multinational companies reporting on tax transparency using the GRI 207 Tax Standard, though comprehensive disclosure remains inconsistent.

GRI - Tax transparency is on the rise – yet depth of disclosure is often lacking

February 10 – GRI, together with 11 leading organizations in sustainable finance and corporate reporting, have issued a public letter urging UN Member States to retain key corporate sustainability disclosure provisions in the Fourth International Conference on Financing for Development (FfD4) negotiations.  GRI - A global coalition for stronger sustainability disclosures
 

February 11 – The IAASB and the International Accreditation Forum (IAF) have formalized a partnership to enhance global sustainability assurance practices. The collaboration aims to improve trust in corporate sustainability disclosures by promoting consistency and quality in assurance practices. IAASB and IAF Strengthen Collaboration to Enhance Sustainability Assurance | IAASB
 

February 18 – The CNDEC provided guidance on environmental reporting process for obliged entities, SMEs and micro-enterprises. In the IRS 12 focus on the assessment of creditworthiness – Press
 

February 6 – The NBA, the Association of Securities Issuing Companies (VEUO) and employers' organization VNO-NCW warn of legal complications due to the late implementation of the European Corporate Sustainability Reporting Directive (CSRD).

NBA, VEUO and VNO-NCW warn of problems due to late implementation of sustainability legislation
 

February 19 –Despite growth in ESG investing, a report by OCED found that there are still challenges in ESG data, including inconsistent coverage across topics, divergence in metrics used by different rating providers, and a focus on input metrics rather than actual performance. OCED recommends policymakers and standard setters expand coverage, ensure consistent measurement approaches, and promote transparency in ESG ratings.

Behind ESG ratings | OECD
 

February 24 – The Institute of Singapore Chartered Accountants (ISCA) has partnered with Singapore Exchange Regulation (SGX RegCo) to offer training workshops that help Singapore-listed companies understand mandatory climate-related disclosures and the application of International Sustainability Disclosure Standards.

ISCA partners SGX RegCo to launch training workshops to support listed companies with sustainability reporting | ISCA
 

February 5 – The Financial Reporting Council (FRC) has today published the final report the from its market study into the assurance of sustainability reporting. The 2024 study found that while the UK’s market for the assurance of sustainability reporting is functioning well, there are concerns over quality consistency amid growing demand.

FRC sets out recommendations for the sustainability assurance market

February 21 – ICAS has published research exploring companies' reporting practices, their market impact, and encourages best practices in climate reporting.

Climate change reporting: What do we know about its determinants and capital market consequences (2025) - ICAS

February 21 – The Securities Commission Malaysia (SC) and Institute of Chartered Accountants in England and Wales (ICAEW) have initiated a collaboration to enhance expertise in sustainability disclosures in capital markets.

ICAEW Partners SC to Strengthen Expertise in Sustainability Disclosures | ICAEW

February 3 – ICAEW has launched Sustainability Accelerator Programme for chartered accountants. This e-learning programme, offering over 50 hours of content, equips finance professionals with the skills to integrate sustainability and ESG reporting into their work.

ICAEW launches Sustainability Accelerator Programme | ICAEW

January 14 – The IESBA has launched a  standard-setting project on accounting firm culture and governance, following recommendations from its Working Group on Firm Culture and Governance. Key findings of the fact-finding report emphasize the importance of ethical leadership, transparent governance, firm-wide accountability, alignment of performance incentives with ethics, and continuous ethics education to foster a culture of ethical behavior.

IESBA Launches Standard-Setting Project on Accounting Firm Culture and Governance | Ethics Board
 

January 28 – The IPSASB has updated IPSAS Standards to align with relevant IFRIC Interpretations, improving consistency and clarity in public sector financial reporting.

IPSASB Issues Amendments Related to Specific IFRIC Interpretations | IPSASB

January 16 – The National Council of Accountants has updated the Technical Rules for anti-money laundering (AML) compliance, focusing on simplifying obligations like risk assessment, customer due diligence, and document storage. Key changes include revised AML safeguards and expanded professional services with lower risk. Training and updated guidelines will be provided to help members implement the changes.

Anti-money laundering: new technical rules for Accountants approved – Press
 

January 15 – ICAS will introduce updated AML Regulatory Actions Guidance on April 7, 2025, including penalties for non-compliance and faster action on issues. While most firms are compliant, some need to improve. ICAS will continue supporting firms and expects penalties only for those not addressing AML concerns.

Calling time on non-compliance with AML requirements: New guidance published - ICAS

January 21 – In a new report, CPAB addresses the challenges and opportunities brought by cutting-edge technologies like generative AI, the heightened focus on sustainability and the complexities of fraud detection.  CPAB’s plan to shape future of audits - CPA Canada.
 

January 15 – The Malaysian Institute of Accountants (MIA) Accounting & Financial Technology Showcase 2025 will bring together 2,000 delegates and 40 tech companies, focusing on digital solutions for accounting and finance. With themes like AI, blockchain, and e-invoicing, the event aims to boost productivity and future-proof the profession. Attendees will gain 6 CPE hours for professional development.  MIA Accounting & Financial Technology Showcase 2025
 

January 27 – Mark Wickersham highlights the importance of effective prompt writing for generative AI like ChatGPT in financial reporting. Key elements include defining the task, setting a persona, providing context, offering examples, and specifying the format. Wickersham recommends building a prompt library to save time and improve results, while still requiring human oversight for accuracy.  The five essential elements of a GenAI prompt | ICAEW

January 14 – The UK government’s AI Opportunities Action Plan aims to boost economic growth by advancing AI adoption, focusing on addressing the AI skills gap and assurance tools. Further, it emphasizes the need for responsible AI adoption, considering risks like bias and accuracy.

UK government launches plan to ramp up AI growth | ICAEW

January 31 – The Board of the NBA has adopted the Further Regulations for Quality Management (NVKM) and the Standards for Quality Management 1 and 3N.

Introduction of further requirements for quality management 

January 30 – Research by the Netherlands Authority for the Financial Markets (AFM) revealed that in statutory audits, auditors often fail to conduct sufficiently specific and thorough procedures for identifying fraud risks. The AFM's investigation of 32 audits found that in two-thirds of the cases, the audit procedures related to fraud risks were inadequate, potentially allowing fraud to go undetected.  Accountants need to be more specific and in-depth to check for fraud risks

January 30 – The NBA has responded to AFM’s report, 'Audit procedures in fraud risks fall short'.https://www.nba.nl/nieuws/2025/januari/reactie-nba-op-afm-rapport-controlewerkzaamheden-bij-frauderisicos-schieten-tekort/

January 30 – The Auditing and Assurance Standards Board (AUASB) has approved the Australian Standard on Sustainability Assurance (ASSA) 5000 General Requirements for Sustainability Assurance Engagements and ASSA 5010 Timeline for Audits and Reviews of Information in Sustainability Reports under the Corporations Act 2001.

CA ANZ welcomes new standards to bolster investor confidence in sustainability and climate reporting | CA ANZ
 

January 16 – Since the release of its first sustainability disclosure standards (CSDS 1 and CSDS 2) on December 18, 2024, the CSSB has provided transitional reliefs for challenges like Scope 3 GHG emissions reporting. Decoding Canada’s new sustainability disclosure standards - CPA Canada
 

January 16 – The European Union is taking significant steps in promoting sustainable business practices and enhancing transparency in environmental reporting, but also to support streamlining such requirements, when possible.

 Mapping the voluntary Eco-Management and Audit Scheme (EMAS) against the ESRS
 

January 24 – In 2025, GRI is boosting support with new reporting tools, expanded training, 100 software partners, and a global community focused on new standards for climate and energy.

GRI - Pivotal year for the advancement of corporate transparency

January 22 – GRI Africa has strengthened ties with regional stock exchanges through a partnership with the African Securities Exchanges Association (ASEA), advancing sustainability disclosure practices across the continent’s capital markets. This initiative involved a series of local events, training workshops and the development of ESG reporting guidelines. 

GRI - Partnership to advance ESG integration in African capital markets
 

January 13 – The Hong Kong Institute of Certified Public Accountants (HKICPA) participated in the "Asian Financial Forum 2025," focusing on promoting Hong Kong's sustainable development and the HKFRS Sustainability Disclosure Standards (HKFRS SDS). At the forum, HKICPA President Edward Au highlighted the importance of HKFRS SDS and their role in helping businesses implement these standards.

HKICPA participates in the Asian Financial Forum 2025: Explores new growth engines in global sustainability
 

January 27 – IAASB and IESBA have launched an integrated effort to support effective implementation of their landmark standards aimed at advancing trust and transparency in sustainability reporting and assurance.

IAASB and IESBA Unveil New Standards and Guidance to Strengthen Sustainability Reporting and Assurance | IAASB
 

January 27 – The International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) today launched an integrated effort to support effective implementation of their landmark standards aimed at advancing trust and transparency in sustainability reporting and assurance.

IAASB and IESBA Unveil New Standards and Guidance to Strengthen Sustainability Reporting and Assurance | IESBA

January 17 – The International Ethics Standards Board for Accountants (IESBA) welcomes the Public Interest Oversight Board’s (PIOB) important decision to certify its Global Ethics Sustainability Standards and the International Organization of Securities Commissions (IOSCO) Statement of Support calling on its members to apply or be informed by the new framework. .

Global Ethics Sustainability Standards: IESBA welcomes certification by PIOB and IOSCO Statement of Support | IESBA
 

January 30 – The IFRS has published a new guide, Applying IFRS S1 when reporting only climate-related disclosures in accordance with IFRS S2, which aims to help companies understand how to report only climate-related information when applicable using International Sustainability Standards Board (ISSB) Standards.  IFRS Foundation publishes guide for companies applying ISSB Standards
 

January 16 – The Institute welcomes the continued commitment in Ireland’s published draft Programme for Government to accelerate Ireland’s progress towards achieving the 17 Sustainable Development Goals (SDGs). Programme-for-Government-2025 | CAI
 

January 21 – The NBA has published a paper discussing the process of integrating ESG factors into SMEs before creating a sustainability report.

SMEs, a document on the implementation of ESG factors from Accountants – Press
 

January 20 – Following the PIOB Certifications of 12 November 2024 and 17 January 2025, market participants and policymakers around the world now have a robust global baseline of the IAASB and IESBA standards to instill confidence in sustainability reporting, as it assumes greater relevance for users both within and outside of capital markets.The press release can be read here.

Sustainability standards: a global baseline to evolve in line with public interest needs

January 17 – The PIOB has certified the IESBA approval of IESSA and Use of External Experts

PIOB Certifications
 

January 30 – The AICPA has published a resource to learn more about enhancing transparency, consistency, and reliability in sustainability reporting through effective legislative and regulatory frameworks.

Sustainability Reporting and Assurance: Key Considerations for Legislators and Regulators | Resources | AICPA & CIMA

January 30 – The ICAEW’s 2025 Code of Ethics updates emphasize accountants' responsibility to act in the public interest and apply an "inquiring mind" in all professional activities. Revisions strengthen the principles of objectivity, integrity, and professional behavior, highlighting the importance of speaking up in difficult situations. The updates also address technology’s impact, awareness of bias, and the need to foster an ethics-based culture within organizations.

New ICAEW Code of Ethics explained: role and mindset | ICAEW