March 2025 IFASS Meeting Wrapped Up

The International Forum of Accounting Standard Setters (IFASS) concluded a successful meeting last week from 12 to 14 March. The meeting comprised of 18 sessions covering a wide range of financial and sustainability reporting topics as well as sharing use cases in the application of AI and digital technologies for standard setting tasks. The event was co-organised by EFRAG and Organismo Italiano di Contabilità (OIC), with the support of SIDREA and KPMG Italy.

The conference provided a platform for the standard setters to have in-depth exchanges across a range of financial and sustainability reporting topics as well as sharing cases in the application of AI and digital technologies for standard setting tasks.

Leadership Handover at IFASS

At the event Chiara Del Prete, who chaired IFASS since March 2022, handed over the leadership reins to the incoming co-chairs Armand Capisciolto, Chair of Canada's Accounting Standards Board (AcSB), and Dr. Keith Kendall, Chair of the Australian Accounting Standards Board (AASB).

Chiara Del Prete stated:

"It has been an honour to serve as Chair of IFASS since March 2022. During my term, we have endeavoured to ensure inclusive participation from multiple jurisdictions and to continue in the attempt of having a space for independent thinking and cooperation between jurisdictions about corporate reporting developments. This mandate coincided with the progressive adoption of mandatory sustainability reporting obligations worldwide and with the broadening of the international corporate reporting community to embrace sustainability.I am confident that under Armand and Keith's leadership IFASS will continue to play a pivotal role."

The summary report of the IFASS meeting will be available soon.