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Sustainability is described in the IFRS General Sustainability-related Disclosures Standard (S1) as the ability of a company to sustainably maintain resources and relationships with and
Sustainability is described in the IFRS General Sustainability-related Disclosures Standard (S1) as the ability of a company to sustainably maintain resources and relationships with and manage its dependencies and impacts within its whole business ecosystem over the short, medium, and long term. Sustainability is a condition for a company to access over time the resources and relationships needed (such as financial, human, and natural), ensuring their proper preservation, development, and regeneration, to achieve its goals. REQUIRED: How does this requirement impact a company's financial reporting requirements? Using the company, you studied in your group assignment (Professional Task), identify the key elements of similarity and difference between the sustainability reporting requirements and financial reporting requirements. 10marks
Sustainability is described in the IFRS General Sustainability-related Disclosures Standard (S1) as the ability of a company to sustainably maintain resources and relationships with and manage its dependencies and impacts within its whole business ecosystem over the short, medium, and long term. Sustainability is a condition for a company to access over time the resources and relationships needed (such as financial, human, and natural), ensuring their proper preservation, development, and regeneration, to achieve its goals. REQUIRED: How does this requirement impact a company's financial reporting requirements? Using the company, you studied in your group assignment (Professional Task), identify the key elements of similarity and difference between the sustainability reporting requirements and financial reporting requirements.
10marks
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