Skambju ta’ fehmiet dwar l-istandards tal-kontabilità u r-rappurtaġġ tas-sostenibbiltà fl-Ewropa

Waqt skambju ta’ fehmiet dwar l-istandards għar-rappurtaġġ tal-kontabilità u s-sostenibbiltà fl-Ewropa fil-Kumitat għall-Affarijiet Ekonomiċi u Monetarji (ECON) tal-Parlament Ewropew fi Brussell, l-eks Prim Ministru Alfred Sant irrikonoxxa li hi vitali li fil-proċess ta’ kif jiġu ssettjati l-istandards, ikun hemm l-involviment ta’ dawk kollha li b’xi mod se jużawhom.

L-iskambju ta’ fehmiet kien bejn il-Membri tal-Kumitat ECON u t-Trustees tal-Fondazzjoni tal-Istandards Internazzjonali tar-Rappurtar Finanzjarju (IFRRS), il-Bord tal-Istandards Internazzjonali tal-Kontabilità (IASB) u u l-Bord tal-Istandards Internazzjonali tas-Sostenibbiltà (ISSB).

Il-Fondazzjoni IFRS hija organizzazzjoni ta’ interess pubbliku mingħajr skop ta’ qligħ stabbilita biex tiżviluppa standards ta’ rappurtaġġ ta’ kontabilità u sostenibbiltà. L-istandards tagħhom huma żviluppati minn żewġ bordijiet li jistabbilixxu l-istandards: il-Bord tal-Istandards Internazzjonali tal-Kontabilità (IASB) u l-Bord tal-Istandards Internazzjonali tas-Sostenibbiltà. L-Iskambju ta’ fehmiet ra l-parteċipazzjoni tal-President tal-Bord tal-Istandards Internazzjonali tal-Kontabilità (IASB), Andreas Barckow, il-President tal-Fondazzjoni tal-IFRS, Erkki Liikanen u l-President tal-Bord tal-Istandards Internazzjonali tas-Sostenibbiltà (ISSB), Emmanuel Faber.

L-Ewroparlamentari Laburista Sant staqsa liċ-chairpersons tal-istituzzjonijiet preżenti jekk humiex konvinti li hemmx biżżejjed inklussività u diversità fil-mod kif topera l-fondazzjoni tal-IFRS biex jiġu stabbiliti standards fil-kontabilità. Huwa qal li fil-passat kien jintqal li l-proċess ta’ kif jiġu ssettjati l-istandards kien dominat minn perspettivi Amerikani u Ingliżi.

Sant talab ukoll għal aktar informazzjoni dwar kif jopera l-IASB biex jinkludi kunsiderazzjonijiet ambjentali, soċjali u ta’ governanza korporattiva (ESG) fl-istandards internazzjonali tal-kontabilità. Dwar id-diġitalizzazzjoni tar-rappurtar finanzjarju relatat mal-użu ta’ block chain u l-Intelliġenza Artifċjali, Sant staqsa kif l-IASB qed jadatta l-istandards tiegħu biex jinkludi dawn l-avvanzi teknoloġiċi.

Il-President tal-Fondazzjoni IFRS Barckow wieġeb billi enfasizza d-diversità u r-rappreżentanza ugwali fi ħdan l-organizzazzjoni tal-IFRS. Huwa sostna li l-kostituzzjoni tal-IFRS tiżgura rappreżentazzjoni ugwali mill-Amerika, il-pajjiżi tal-Ewropa, il-Lvant Nofsani u l-Afrika u r-reġjun tal-Ażja-Paċifiku fuq il-bord tagħha. Dwar kunsiderazzjonijiet ESG, huwa qal li l-ISSB jenfasizza l-importanza li jiġu kkunsidrati l-kunsiderazzjonijiet ambjentali, soċjali u ta’ governanza (ESG) materjali kollha u r-riskji fit-tul kemm jekk huma finanzjarji, relatati mal-likwidità, jew relatati mal-klima. Dwar id-diġitalizzazzjoni, is-Sur Barckow iddikjara li filwaqt li ż-żamma tal-kotba ssir b’mod diġitali, dak li jiġi preżentat bħala rapporti annwali, għadu prinċipalment ibbażat fuq il-karta.

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Exchange of views on accounting and sustainability disclosure standards in Europe

During an exchange of views on accounting and sustainability disclosure standards in Europe at the European Parliament’s Economic and Monetary Affairs Committee (ECON) in Brussels, former Prime Minister Alfred Sant acknowledged that stakeholder engagement is vital in the standard-setting process. The exchange of views was between the ECON Committee Members and the International Financial Reporting Standards (IFRRS) Foundation (Trustees), the International Accounting Standards Board (IASB) (and) and the International Sustainability Standards Board (ISSB). 

The IFRS Foundation is a not-for-profit, public interest organisation established to develop accounting and sustainability disclosure standards. Their standards are developed by two standard-setting boards: the International Accounting Standards Board (IASB) and International Sustainability Standards Board. The exchange of views saw the participation of the chair of the International Accounting Standards Board (IASB), Andreas Barckow, the chair of the IFRS Foundation, Erkki Liikanen and the chair of the International Sustainability Standards Board (ISSB), Emmanuel Faber. 

Labour MEP Alfred Sant asked the chairs of the institutions present whether they are convinced that there is enough inclusivity and diversity in how the IFRS foundation operates to set standards in accounting. There has been a feeling in the past, he said that the process is dominated by Anglo-saxon perspectives.

Sant also asked for more information about how the IASB operates to include ESG considerations into international accounting standards. On the digitalisation of financial reporting such as the use of block chain and AI, Sant asked how the IASB is adapting its standards to accommodate these technological advances.

The chair of the IFRS Foundation Barckow replied by emphasizing the diversity and balanced representation within the IFRS organization. He claimed that the IFRS constitution ensures equal representation from the Americas, the countries of Europe, the Middle East and Africa and the Asia-Pacific region on its board. On ESG considerations, he said that the ISSB emphasizes the importance of considering all material ESG and long-term risks whether they are financial, related to liquidity, or climate-related. On digitalisation, Mr Barckow stated that while bookkeeping is done digitally, the output such as annual reports, is still predominantly paper-based.