Global Reporting Initiative
GRI Standards use an impact-oriented reporting perspective. IFRS Sustainability Disclosure Standards focus on sustainability-related risks and opportunities that could reasonably be expected to affect an entity’s prospects and on information material to primary users. An organisation may apply multiple frameworks if required or chosen, but must assess each framework’s materiality and disclosure requirements separately.
Worked example
A company assesses the effects of its operations on a local community for an impact-focused report and separately considers whether related risks could affect its own prospects under IFRS S1.
Common mistake
Assuming that an IFRS financial-materiality assessment and a GRI impact assessment always identify the same information or have identical intended users.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | SBR | Supporting | September 2026–June 2027 |