AICPA comments on SEC climate disclosure rule proposal
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AICPA comments on SEC climate disclosure rule proposal

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On March 21, 2022, the SEC proposed amendments to Regulations S-X and S-K for the Enhancement and Standardization of Climate-Related Disclosures. See also the AICPA’s summary of the SEC’s Proposed Rule on Climate-Related Disclosures.

The AICPA response to the SEC’s proposed rule on climate disclosure highlights the following:

The importance of alignment with existing standards and frameworks and international sustainability standard-setting developments

Views on due process for prescribing accounting principles for preparing climate-related financial statement metrics

The necessary components for contributing to the trust in, and effectiveness of, our financial reporting system, including assurance provided by licensed professionals who are held accountable to core values of integrity, objectivity, and independence

Support for a degree of flexibility with respect to disclosure requirements (e.g., Scope 3 greenhouse gas emissions) in the forms of safe harbor from liability and phased-in compliance requirements

Read the comment letter for deeper insights on each of the matters outlined above.

Download the AICPA Response to SEC Request for Comment on Proposed Climate Disclosure Rule

File name: aicpa-response-to-sec-request-for-comment-on-proposed-climate-disclosure-rule-final.pdf

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