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Hi Ms. Smith,
Hope you’re well.
I want to know if the introduction of IFRS S1 & S2 would have an impact on climate related risks. I’m not aware of the requirements of IFRS S1 & S2 but it is obvious that the requirements would have impact on the financial statements directly..
But the Kaplan Study text still links it to the annual report i.e. other information. The ACCA Study Hub is also on the same page as the Kaplan Study Text.
So is it safe to look at it from ‘other information’ point of view until introduction of the new syllabus?
I am – thank you!
I’m not entirely clear what it is that you are asking/which “new syllabus” you are referring to.
IFRS S1 and IFRS S2 are IFRS Sustainability Standards as opposed to IFRS Accounting Standards. Neither IFRS S1 nor IFRS S2 are examinable documents for SBR in 2023-24 – and hence they are not examinable in AAA.
The AAA examinable doc is the IAASB’s “The consideration of climate-related risks in an audit of financial statement (October 2020)” – this is looking specifically at climate-related information as it is currently disclosed i.e. outside of the financial statements.
You’ve answered it.. that is what I needed to know. I thought maybe we would have to look at S1 and S2 specific risks and that the text was outdated (for 2023-24). Thank you!
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