Programme Objective

Presenting a set of “General Purpose Financial Report” not only include a set of financial statements, but also providing “connectivity” with the new IFRS-Sustainability Disclosure Standards. In addition, entity must also be well verse with applying ‘Industry Standards’ issued by ‘Sustainability Accounting Standards Board’ (SASB), using extents issued by Climate Disclosure Standards Board (CDSB) and how these Standards are integrated by using Integrated Reporting Framework <IR>. 

In 2022, SASB, CDSB and International Integrated reporting Council had now been consolidated in IFRS Foundation under the new International Sustainability Standards Board (ISSB). While the International Integrated Reporting council has been transitioned into the IFRS Foundation’s “Integrated Reporting and Connectivity Council”. In addition, The Global Reporting Initiative (GRI) had issued GRI Standards on disclosure of sustainability information through its related body the Global sustainability Standards Board (GSSB). “It appears that there are too many cooks in the kitchen!”, and it is a rather confusing current situation.

It is undoubtable that the current trend is to provide sustainability information, the key issues to is to connect these sustainability Standards into financial reporting to provide an integrated and coherent set of financial information for the user to make informed decision on the value of the company.

General Purpose Financial Reports

• The primary objective is to provide a pathway to understand the various sustainability disclosure organisations and to understand their respective contribution in the contemporary environment
• A clear chronology of events from past and present that lead to the current reporting environment and to provide a glim into the possible future
• The role that accountants play in this exciting and growing sphere of sustainability disclosure in addition to financial reporting
• A comprehensive and detailed guide to the contemporary financial reporting environments
• A brief on the IFRS Sustainability Disclosure Standards:
  • IFRS-S1 General Requirements for Disclosure of Sustainability-related Financial Information
  • IFRS-S2 Climate-related Disclosures

Programme Outline

The journey

• The historical developments that led to the contemporary concept of “Environment, Social, and Governance” disclosure, began as early as 1987 with the publication of the Brundtland Report title “Our Common Future”

The current state of affairs: the connectivity

• How the following bodies interrelate with ISSB (based on the current environment)
  • Value Reporting Foundation:
    • Sustainability Accounting Standards Board
    • International Integrated Reporting Council <IR>
  • Climate Disclosure Standards Board (CDSB)
  • GRI and the GSSB
• The current thinking on connecting sustainability disclosure with financial reporting to enable user of financial statements to have access to holistic information of the company to make informed assessments on the value of the company
• How to apply and integrate various extents issued by SASB and CDSB (as well as the GSSB) in the current financial reporting environment

A brief on the ISSB Sustainability Standards

S1 General Requirement for Disclosure of Sustainability-related Financial Information

• What are the objectives and the scope of application?
• The conceptual foundation of S1
• The four core contents explain:
  • (1): Governance, (2) Strategy, (3) Risk management, and (4) Metrics and targets
• The general requirements for disclosure of sustainability-related financial information

 

S2 Climate-related Disclosures 

• What are the objectives and the scope of application?
• Explaining climate-related risk (what are the ‘negative effects):
  • Acute Physical Risk and Chronic Physical Risk
  • Transition Risks
• Explaining climate-relate opportunity - (what are the 'positive' effects)
• A brief on Greenhouse Gases:
  • Scope 1, Scope 2 and Scope 3 as identified by Greenhouse Gas Protocal Corporate Value Chain
• Introduction to the four core contents of S2:
  • Governance - the objectives and roles of management
  • Strategy in dealing with climate-related risks and opportunities 
  • Risk management objectives and disclosure
  • Setting Climate-related Metrics and targets

 

Training Methodology
 

An interactive learning session with trainer-led facilitation, live Q&As, quick polls/surveys, self-assessment quizzes

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

This programme is suitable for preparers and auditors of financial statements, Members of Audit Committee, Finance Directors and Regulators. Those who are keen on attending a practical course that can help you to enhance your practical skills in presenting a set of main financial statements as well as supporting disclosure notes are welcome to attend.

Competency Mapping

Category 1 = 3.50 Hours

Programme Facilitator(s)