June 2023 Regulatory Alerts || Faqonline.org

The regulatory updates publication issued by the Foundation for Audit Quality (FAQ) highlights the latest developments in accounting, auditing and regulatory developments in India and internationally.

Regulatory updates for June 2023

Key updates covered in this publication are as follows:

Recently, the Securities and Exchange Board of India (SEBI) issued certain amendments to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The key amendments include:

Strengthening corporate governance at listed entities by empowering shareholders
Streamlining of disclosures by listed entities
Disclosure of material events or information
Other amendments

Additionally, on 26 June 2023, the International Sustainability Standards Board (ISSB) issued the first two IFRS Sustainability Disclosure Standards – IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2, Climate-related Disclosures. The standards provide guidance on certain key aspects, including:

Applicability
Overview of the key elements
Consistency with the existing frameworks, and
Interlinking sustainability and financial reporting

This issue of the regulatory updates publication covers some of the important updates on accounting, auditing and regulatory matters and other discussion/consultation papers and publications for the period from 1 June 2023 to 30 June 2023. It also highlights some of the action points that auditors may consider when applying the relevant provisions.