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CIMA - F3 > 2. Sustainability & Integrated Reporting > Flashcards

2. Sustainability & Integrated Reporting Flashcards

1
Q

Is sustainability reporting compulsory?

A

No, it is voluntary

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2
Q

What are the 3 categories within the Global Reporting Initiative (GRI) principles?

A
  1. Economy
  2. Environment
  3. Society
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3
Q

What are the 4 principles for defining sustainability report content?

A
  1. Stakeholder inclusiveness
  2. Sustainability context
  3. Materiality
  4. Completeness
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4
Q

What comes under stakeholder inclusiveness in GRI principles for defining sustainability report content?

A

Identify stakeholders and show response to their expectations and interests

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5
Q

What comes under sustainability context in GRI principles for defining sustainability report content?

A

The organisation’s performance in the context of limits and demands placed on environmental and social resources

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6
Q

What comes under materiality in GRI principles for defining sustainability report content?

A

Reporting on only:
- Significant impacts
- Aspects substantively influencing assessments and decisions of stakeholders

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7
Q

What comes under completeness in GRI principles for defining sustainability report content?

A

Covering all material aspects and their boundaries:
- Scope
- Boundary
- Time (during the reporting period)

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8
Q

What are the 6 principles for defining sustainability report quality?

A
  1. Balance
  2. Comparability
  3. Accuracy
  4. Timeliness
  5. Clarity
  6. Reliability
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9
Q

What comes under balance in GRI principles for defining sustainability report quality?

A

Reflecting both positive and negative aspect of performance

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10
Q

What comes under comparability in GRI principles for defining sustainability report quality?

A

Consistency of reporting to enable comparison to historic performance and other organisations

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11
Q

What comes under accuracy in GRI principles for defining sustainability report quality?

A

Sufficient accuracy and detail for stakeholder review (qual and quant)

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12
Q

What comes under timeliness in GRI principles for defining sustainability report quality?

A

Reporting on a regular schedule and in good time for stakeholders to make decisions

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13
Q

What comes under clarity in GRI principles for defining sustainability report quality?

A

Information is understandable and accessible

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14
Q

What comes under reliability in GRI principles for defining sustainability report quality?

A

Recording and disclosure of information and processes used in preparing the report

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15
Q

What are the 2 categories of disclosure under sustainability reporting?

A

General standard disclosures (giving context) and specific standard disclosures

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16
Q

What are the 7 aspects of general standard disclosures?

A
  1. Strategy and analysis
  2. Organisational profile
  3. Identified material aspects and boundaries
  4. Stakholder engagement
  5. Report profile (period and frequency)
  6. Governance
  7. Ethics + Integrity
17
Q

What comes under strategy and analysis within general standard disclosures?

A

A statement from the CEO on relevance of sustainability to the organisation, key impacts in the report and strategy and outlook from managing impacts in the future

18
Q

What are the 4 possible justifications for non disclosure?

A
  1. Not applicable
  2. Subject to confidentiality
  3. Legally prohibited
  4. Information is unavailable
19
Q

What are the 4 subcategories under economic specific standard disclosures?

A
  1. Economic performance (rev + distributed)
  2. Market presence
  3. Indirect economic impacts (support low economic)
  4. Procurement practises
20
Q

What are the 6 subcategories under environmental specific standard disclosures?

A
  1. Materials
  2. Energy
  3. Biodiversity
  4. Emissions
  5. Products & Services
  6. Supplier assessment
21
Q

What are the 4 subcategories under social specific standard disclosures?

A
  1. Labour practises
  2. Human rights
  3. Society
  4. Product responsibility
22
Q

What is the aim of integrated reporting?

A

To show how businesses create value over time, linking the business with the context within which it operates

23
Q

Are integrated reporting and sustainability reporting the same?

A

No, integrated reporting builds on the foundations of sustainability erporting

24
Q

What should the business get from integrated reporting?

A

Being able to make more sustainable decisions and optimum use of scarce resource

25
Q

What should stakeholders get from integrated reporting?

A

Being able to better judge the viability of businesses

26
Q

What are capitals, in the context of integrated reporting?

A

The resources and relationships used by the business and which businesses affect

27
Q

What are the 6 capitals within integrated reporting?

A
  1. Financial
  2. Intellectual (patents and knowledge)
  3. Social and relationship
  4. Human (skills, experience and loyalties)
  5. Manufactured
  6. Natural
28
Q

What are the 7 principles of integrated reporting?

A
  1. Strategic focus and future orientation
  2. Connectivity of information
  3. Stakeholder responsiveness
  4. Materiality
  5. Conciseness
  6. Reliability and completeness
  7. Consistency and comparability
29
Q

What are the 8 elements of content of integrated reports?

A
  1. Organisational overview
  2. Governance structure + value creation
  3. Business model
  4. Impact of R&Os on value creation
  5. Strategy and resource allocation
  6. Performance
  7. Outlook
  8. Basis of preparation and presentation
30
Q

What are the 4 main benefits of non-financial reporting?

A
  1. Good publicity
  2. Willingness to identify and manage risk
  3. Improved profitability (^ sales and v costs)
  4. Good for employee morale
31
Q

What are 5 arguments against integrated reporting?

A
  1. Lack of comparability
  2. Lack of reliability (unaudited)
  3. May only present positive
  4. Bias / hiding damaging elements
  5. Danger of information overload

CIMA - F3 (13 decks)

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