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Companies can streamline their environmental, social and governance reporting using technology, according to a recent report. The policy briefing explains how technologies like blockchain and artificial intelligence, along with a common, global system of taxonomies that goes beyond national and regulatory boundaries, can make the reporting process more efficient and auditable for investors and regulators, while reducing many of the manual tasks. “Basically the work that’s being done is looking at what we’re calling the ecosystem of corporate information or financial information, the act...

AICPA, CAQ support SEC’s exploration of climate change disclosures By Ken Tysiac The SEC in March asked for comments on its disclosure rules and guidance related to climate change disclosures as momentum on this topic has grown. The IFRS Foundation plans to announce a decision in the fall on whether to create an merger of the Sustainability Accounting Standards Board (SASB) and the International Integrated Reporting Council (IIRC) has increased the focus on the importance of harmonizing standards and frameworks in this area. According to the AICPA letter to the SEC, it’s critical ...

Oil companies hire accountants to legitmate inflated financial claims. Investors and regulators are targeting these auditors for fraud.

Centre for Audit Quality expected to issue the final version on July 1

To print this article, all you need is to be registered or login on Mondaq.com. Earlier this week, SEC Commissioner Allison Lee delivered keynote remarks at the 2021 ESG Disclosure Priorities Event hosted by the AICPA, the Chartered Institute of Management Accountants, SASB and the Center for Audit Quality. Her topic: "Myths and Misconceptions about 'Materiality.'" In the context of the discussion about potential mandatory ESG disclosures, Lee observed, there has been a lot of attention to the concept of materiality, which is fundamental to our securities laws. The pub...