IFRS S1 requirements for disclosure of sustainability related financial information

Question 1

objective of IFRS S 1

Answer 1

The objective of IFRS S1 is to require an entity to disclose information about its sustainability related risks and opportunities that is useful to primary users of general purpose financial reports in making decisions relating to providing resources to the entity.

Question 2

Scope of IFRS S1

Answer 2

IFRS S1 requires disclosure of information about all sustainability related risks and opportunities that could reasonably be expected to affect the entity’s cash flows, its access to finance or cost of capital over the short, medium or long term.

Question 3

Qualitative characteristics

Answer 3

• fundamental characteristics of relevance and faithful representation and enhancing characteristics of comparability, verifiable, timeliness and understandability.
• For an entity to achieve
  the objective of IFRS S1and still provide relevant information, it should only include disclosures of material sustainability related risks and opportunities.

Question 4

content

Answer 4

• governance
• strategy
• risk management
• metrics.