Climate Reporting: Seen as at least moderately important by many Chartered Accountants (CAs), despite a decline in perceived importance since 2021.
Digital Reporting: Over half of CAs support mandatory digital financial reporting for listed companies.
IFRS 16 Leases: Majority report a moderate to very significant impact from adopting this standard, slightly down from 2022.

The 2024 Chartered Accountants IFRS Survey provides critical insights into the perspectives of Chartered Accountants (CAs) on the impacts, challenges, and opportunities in financial reporting standards. As the financial landscape evolves, these insights will help shape local and international standards.

While the importance of climate reporting in the roles of CAs has decreased since 2021, it remains at least moderately important for many due to the growing recognition of climate-related business risks and opportunities. Key reasons for viewing climate reporting as less critical include a “general lack of currently applicable climate change disclosure requirements” and the belief that “climate-related impacts are non-significant for their organization.” Notably, 75% of CAs believe that “independent assurance would increase their confidence in climate reporting published by listed companies.” Additionally, approximately two-thirds of CAs find “international alignment of Australian and New Zealand climate-related financial disclosures” important.

The survey reveals strong support for digital financial reporting, with over 50% of CAs in favor of making it mandatory for listed companies. This move is seen as a step toward greater transparency and accessibility in financial reporting, aligning with global trends in digital transformation.

Over half of the surveyed CAs reported experiencing a moderate to very significant impact from adopting IFRS 16 Leases, though this is slightly less than reported in 2022. This finding highlights the ongoing adjustments that companies are making to adapt to new leasing standards.

CA ANZ extends its gratitude to all respondents for their contributions, which will be instrumental in advocating for more streamlined and effective accounting standards. These insights will be voiced directly to local and international standard setters to ensure the continuous improvement of financial reporting practices.