Advocacy: Standard Setters

The Society engages with domestic and international standard-setters and other standard-setters principally to help shape proposed and emerging mandatory and voluntary disclosure standards that apply to U.S.-based companies or U.S. companies with global operations, raise member challenges and concerns with implementation, and educate members on new disclosure-related developments.

The Society regularly engages with the International Financial Reporting Standards Foundation or the IFRS Foundation and has submitted several letters (most recently in July 2022 and December 2020) in response to public consultations on proposed International Sustainability Standards Board (ISSB) sustainability-related standards. The Society also regularly seeks the involvement of representatives of the IFRS Foundation in its National Conference and other national programming such as member roundtables and meetings of the Sustainability Practices Committee.

The Society has on occasion engaged with the Financial Accounting Standards Board (FASB) on financial reporting-related matters of interest/concern to our members, for example, in relation to disclosure of loss contingencies.

The Society currently has representation on an advisory council that is overseeing the development of a COSO corporate governance framework and has otherwise engaged with COSO on other frameworks such as its Internal Control over Sustainability Reporting framework.