Summary of the 2024 World Standard-setters Conference in London
The final plenary session of the World Standards Conference showcased the work of the Foundation’s Connectivity team, emphasising the importance of aligning IFRS Accounting Standards with IFRS Sustainability Disclosure Standards. This integration aims to deliver comprehensive and high-quality financial information. The team illustrated how the combined application of these standards leads to disclosures that are both interconnected and complementary, enhancing the overall transparency and usefulness of financial and sustainability reporting.
Recordings of all conference sessions can be accessed on the WSS 2024 webpage.
Breakout sessions
The WSS Conference included six breakout sessions on:
- the IASB’s Provisions –Targeted Improvements project;
- the IASB’s Equity Method project;
- the IASB’s financial instruments projects;
- the forthcoming third edition of the IFRS for SMEs Accounting Standard;
- the adoption or other use of ISSB Standards;
- the implementation of IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures.
In addition to the main sessions, attendees had the chance to participate in three optional sessions that provided updates on the Foundation’s Translations, Adoption, and Copyright initiatives; the development of a new IFRS Accounting Standard addressing Regulatory Assets and Regulatory Liabilities; and the ongoing Management Commentary project by the IASB.
Reflecting on the event, Andrea Pryde, the Conference Chair, described the WSS Conference as a valuable networking platform that offered significant insights into the latest developments in ISSB and IASB Standards. She emphasized the importance of collaboration with national standard-setters to address challenges, develop globally accepted standards, and ensure that stakeholder perspectives are considered. Pryde expressed her anticipation for the next WSS Conference, set to take place in September 2025.
For further information and to access recordings of the sessions, visit the WSS 2024 webpage.
