✨ Opening Keynote: Taking Stock and Building for the Future
Erkki Liikanen, Chair of the IFRS Foundation Trustees, kicked off the conference with a reflection on the Foundation’s journey, highlighting its role in global accounting and sustainability standards. He emphasized the tangible benefits these standards bring to capital markets and the ongoing efforts to keep the Foundation resilient and effective.
"Our mission is to ensure high-quality standards that serve the public interest," said Liikanen.
Watch or read Erkki's full speech.
🌐 Financial Reporting in a Fragmenting World
Andreas Barckow, Chair of the IASB, discussed the importance of global accounting standards amidst geopolitical and economic fragmentation. He stressed the need for consistent, high-quality financial information to maintain market confidence.
Key Achievements of 2024:
- Completion of seven major projects
- Support from stakeholders in over 140 jurisdictions
"Markets depend on trustworthy information," Barckow affirmed.
Watch or read Andreas' full speech.
🌱 Progress Towards the Global Baseline
Emmanuel Faber, Chair of the ISSB, updated delegates on the progress in adopting IFRS Sustainability Disclosure Standards. He emphasized the need for reliable, comparable, and decision-useful disclosures to aid investors.
ISSB's Latest Efforts:
- Educational materials and capacity building
- Guidance on transition plans
- Interoperability with other standards like GRI
Watch Emmanuel's full speech.
📊 Better Information for Better Decisions
The plenary panel featured investors discussing their needs and the next steps in standard-setting for financial statements and sustainability-related disclosures. Panellists from Neuberger Berman, Eumedion, Capital Group, and DWS shared strategic insights and areas needing further standardization.
🔗 Joint IASB–ISSB Update
IASB Vice-Chair Linda Mezon-Hutter and ISSB Vice-Chair Sue Lloyd highlighted collaborative efforts to strengthen connectivity between financial statements and sustainability-related disclosures. Key priorities included the Post-implementation Review of IFRS 16 Leases, Dynamic Risk Management consultation, and enhancements to the SASB Standards.
🛠 Workshops and Breakout Sessions
The conference featured numerous workshops and breakout sessions on various topics:
Workshops:
- Connectivity between financial statements and sustainability disclosures
- Implementing IFRS 18
- Transition plan disclosures
Breakout Sessions:
- Financial instruments
- Equity method
- IFRS 19 Subsidiaries without Public Accountability
- Consistent application of IFRS Standards
- ISSB work plan
🎤 Closing Reflections
The event wrapped up with an 'Ask me anything' session, where IASB and ISSB members answered questions from the audience. The conference theme 'Knowledge in Practice' was truly brought to life through these interactive discussions.
