Key Information
Date: 29 September 2026
Time: 7:00-8:30 AM EST | 1:00-2:30 PM CET
Format: Virtual Webinar
Language: English
 

The International Federation of Accountants (IFAC) congratulates Steven Maijoor on his appointment as the next Chair of the IFRS Foundation Trustees, Sam Woods on his appointment as Chair of the International Accounting Standards Board (IASB), and Laura Forzani on her appointment as Managing Director of the IFRS Foundation.

Together, these appointments mark an important new chapter for the IFRS Foundation as it continues to strengthen the global financial reporting architecture and support high-quality, internationally accepted standards.

Lee White, Chief Executive Officer of IFAC, said:

"I have been fortunate to work with Steven over many years in different capacities and have always valued his thoughtful leadership, deep expertise, and unwavering commitment to the public interest. I look forward to continuing our close collaboration in his new role as Chair of the IFRS Foundation Trustees.

I also warmly congratulate Sam Woods on his appointment as Chair of the IASB. His extensive experience in financial regulation and international policy, together with his strong commitment to high-quality global standards, will serve the IASB well as it continues to meet the evolving needs of investors, businesses, and capital markets.

And I congratulate Laura Forzani on her appointment as Managing Director. Her proven leadership and operational expertise will be a tremendous asset to the Foundation as it continues to evolve and deliver on its important mission."

IFAC also extends its sincere appreciation to Erkki Liikanen for his outstanding leadership as Chair of the IFRS Foundation Trustees since 2018, guiding the Foundation through a period of significant growth and transformation. IFAC likewise thanks Andreas Barckow for his leadership of the IASB and his important contributions to advancing high-quality global accounting standards during his tenure. In addition, IFAC recognizes Michel Madelain for his service as Managing Director, including his leadership of the Foundation's transformation program that has strengthened its operations and positioned it well for the future.

IFAC looks forward to continuing its strong partnership with the IFRS Foundation, the IASB, the ISSB, and the Foundation's leadership team in advancing high-quality international standards that serve the public interest and strengthen trust in global capital markets.

About IFAC

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

• ‘Fragmented landscape’ becomes a bit more structured with shift toward standardization and integration

• Three-quarters of large global companies obtained assurance on at least some of their sustainability disclosures

• The percentage of companies that used audit firms to perform assurance of sustainability information rose to 59% globally

The global sustainability reporting ecosystem is becoming less fragmented as more of the world’s largest companies begin to adopt or form plans to use the International Sustainability Standards Board (ISSB) standards and European Sustainability Reporting Standards (ESRSs), an updated report from the International Federation of Accountants (IFAC), American Institute of CPAs (AICPA) and Chartered Institute of Management Accountants (CIMA) shows.

The report, The State of Play: Sustainability Disclosure and Assurance (Six-Year Trends and Analysis, 2019-2024), is the sixth annual benchmark of sustainability reporting and assurance practices of global companies in G20 jurisdictions. Because the newest data in the report is from 2024, due to the typical lag for sustainability information, the results likely understate the extent of movement toward more uniform standards.

“(T)he global reporting ecosystem is transitioning from a fragmented landscape toward one that is increasingly structured, standardized, and integrated,” the report summarizes. “However, this transition is not yet complete and may continue to be challenged by shifting geopolitical and regulatory sentiment within some of the world’s largest economies.”

While global companies still use a patchwork of sustainability-related standards, the survey found progress in a number of areas:

• A third of companies with sustainability information disclosures in 2024 referenced the use or future use of ISSB standards, compared to only 16 percent that did so the previous year. Turkey adopted the ISSB Standards beginning for fiscal year 2024 and several additional jurisdictions will implement ISSB requirements in reports that will be published in 2026.
• Similarly, 20 percent of companies that disclosed sustainability information in 2024 said they used or plan to use ESRS, which suggests their implementation in the European Union may be having a cross-border impact.
• Use of other standards and frameworks – the Task Force on Climate-Related Financial Disclosures (TCFD) framework, Global Reporting Initiative (GRI) standards and U.N. Sustainability Development Goals (SDG) – all fell by single digits between 2023 and 2024.

"Around the world, we are seeing growing alignment behind high-quality sustainability reporting and assurance practices,” said Lee White, IFAC Chief Executive Officer. “This progress matters because trusted, decision-useful information supports better decisions, stronger organizations, and more efficient capital allocation. We expect this momentum to continue as stakeholders increasingly recognize the value of reliable sustainability-related information.”

Among other highlights of the updated survey:

• Ninety-seven percent of global companies had some form of disclosure of sustainability information in 2024, a percentage drop from the previous year.
• Seventy-five percent of companies in the survey obtained assurance on their sustainability disclosures in 2024, up slightly from 73 percent the previous year. Most of the assurance performed was at a limited assurance level.
• Audit firms continue to lead in providing assurance on sustainability disclosures by large global companies (59 percent of engagements, up four percentage points from last year), with broad variations country to country.

“The growing use of audit firms for sustainability assurance is a good sign for capital markets and investors,” said Susan Coffey, CPA, CGMA, the CEO of public accounting for AICPA and CIMA. “Auditors have earned their reputation for trust and expertise, backed by strong professional certification programs and robust rules on audit, independence and professional integrity.”

Seventy-six percent of companies reported sustainability information with financial disclosures in 2024 annual or integrated reports, up two percentage points from the previous year. Organizations that obtain assurance over sustainability information within their annual or integrated reports overwhelmingly use their statutory auditor to provide assurance over those disclosures.

Mexico, Singapore and Turkey all had large increases in the percentage of audit firms performing assurance on sustainability information in 2024. The United States, meanwhile, had just under a third (32 percent) of sustainability-related assurance engagements performed by audit firms, up four percentage points from the previous year.

About the Study

IFAC, AICPA and CIMA partnered to understand sustainability reporting and assurance practices on a global basis by capturing reports containing environmental, social and governance (ESG) information in 22 jurisdictions. Some 1,400 companies were reviewed—one hundred from each of the largest six economies, with 50 companies reviewed in the remaining 16 jurisdictions. The current report includes data from 2019-2024.

About the Association of International Certified Professional Accountants, AICPA, and CIMA

The Association of International Certified Professional Accountants (the Association) advances the reputation, employability and quality of CPAs, CGMA designation holders and accounting and financial professionals globally. Founded in 2017 by the AICPA and CIMA, it represents 574,000 AICPA and CIMA members, students, and registrants in more than 150 countries and territories, advocating for the public interest and business sustainability on current and emerging issues.

About the International Federation of Accountants

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality, and proudly carry their membership as a badge of international recognition.

IFAC and its members work together with the Forum of Firms and other key stakeholders to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

This edition of The State of Play: Sustainability Disclosure and Assurance marks six years of benchmarking data and corresponding analysis. Our findings suggest the global sustainability reporting ecosystem is becoming less fragmented as more companies begin adopting, or preparing to adopt, the International Sustainability Standards Board (ISSB) Standards and European Sustainability Reporting Standards (ESRSs).

Yong Sok Jhun is a Technical Advisor for IFAC Board Member Jungeun Shim nominated by the Korean Institute of Certified Public Accountants (KICPA).

Mr. Jhun is a Partner at Echon & Co., a member firm of Morison Global. He previously led the Audit & Assurance practice at Deloitte Korea. 

In addition, Mr. Jhun is the President of Confederation of Asian and Pacific Accountants (CAPA) and currently serves as the Vice President for International Affairs and as a Board Member of KICPA. 

Mr. Jhun received his bachelor's degree in business administration from Korea University and holds an MA in business administration from Soongsil University. He is a certified public accountant in Korea.

IFAC's Financial Statements are prepared in accordance with International Public Sector Accounting Standards (IPSAS) and include an independent auditor’s report.

The International Federation of Accountants (IFAC) and South African Institute of Chartered Accountants (SAICA) are thrilled to announce the World Congress of Accountants (WCOA) will be held in Cape Town, South Africa in November 2028. Recognized as the accountancy profession’s premier global gathering, WCOA is a bi-annual event that brings together representatives of the profession from jurisdictions around the world to strengthen the accountancy community through shared learning, collaboration, and relationship-building.

This announcement represents a monumental achievement for the South African accountancy profession, marking the first time in WCOA’s 124-year history that the flagship event for the profession will be held on the African continent. Hosting the Congress in Cape Town positions South Africa as a key enabler of Africa’s global innovation, connectedness and resilience.

News of SAICA’s co-hosting comes as the profession prepares to convene in Seoul, South Korea for the 2026 World Congress of Accountants this November. Like the 2026 Congress, WCOA 2028 will be scheduled alongside IFAC’s Annual Council Meeting. In-person attendees will experience plenary sessions, expert panels, and networking opportunities designed to foster collaboration and knowledge exchange across sectors. Participants will include IFAC Professional Accountancy Organization (PAO) leadership, professional services firms, standard-setters, regulators, government officials, multilateral and development agencies, and representatives from the business and investor communities.

Lee White, IFAC Chief Executive Officer, said: "Cape Town is a dynamic, diverse, and globally connected city, an outstanding choice for WCOA 2028. This Congress will spotlight the accountancy profession’s role in driving trust, sustainability, and innovation in an increasingly complex world. We are honored to partner with SAICA to create an event that inspires our profession and equips our society for a better future”. 

"Securing WCOA 2028 is both a validation of our standing as a professional body deeply committed to serving the public interest, and a powerful affirmation of South Africa's appeal as a premier destination for global business, tourism, and investment,” said Patricia Stock, SAICA Chief Executive Officer. "Our CA(SA) designation was recently voted the #1 most trusted designation by renowned research body, Edelman DxI in 2025, following similar success in 2023. Hosting this congress allows us to leverage trust to drive conversations on transparency, ethical leadership, and the role of the profession in building resilient economies. This is a win not just for SAICA, but for the entire African continent as we lead the global profession into a sustainable and ethical future.”

About IFAC  

IFAC, by connecting and uniting its members, makes the accountancy profession truly global.

IFAC member organizations are champions of integrity and professional quality and proudly carry their membership as a badge of international recognition.

IFAC and its members work together with the Forum of Firms and other key stakeholders to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.

About SAICA

The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent accountancy body, is recognised as the world’s leading accounting institute and is home to the leading CA designation in the world.  The Institute provides a wide range of support services to more than 60 000 members and associates who are chartered accountants (CAs[SA]), as well as associate general accountants (AGAs[SA]) and accounting technicians (ATs[SA]), who hold positions as CEOs, MDs, board directors, business owners, chief financial officers, auditors and leaders in every sphere of commerce and industry, and who play a significant role in the nation’s highly dynamic business sector and economic development.

SAICA is a member of Chartered Accountants Worldwide (CAW), a global family that connects over 1,8 million fellow Chartered Accountants and students in more than 190 countries. Together, we support, develop, and promote the role of Chartered Accountants as trusted business leaders, difference makers, and advisers.