Home  Journals  International Accounting  7(493) - 2022 July

Approaches to climate-related risk disclosure in the draft international climate-related disclosure standard

Received: 2 June 2022

Received in revised form: 14 June 2022

Accepted: 28 June 2022

Available online: 14 July 2022

Subject Heading: INTERNATIONAL STANDARDS OF ACCOUNTING AND REPORTING

JEL Classification: M40, М41

Pages: 728–746

https://doi.org/10.24891/ia.25.7.728

Subject. This article discusses the Exposure Draft IFRS S2 Climate-related Disclosure Standard.
Objectives. The article aims to address the content of the proposals set forth in the Exposure Draft that is one of the first documents published by the International Sustainability Standards Board in the structure of the IFRS Foundation for comment.
Methods. For the study, I used analysis, synthesis, comparison, and generalization.
Results. Based on a study of the structure of the Exposure Draft IFRS S2 Standard, the article notes that the main focus is on disclosing information about the impact of significant climate-related risks and opportunities on the value of the enterprise, which is useful to users of general-purpose financial statements.
Conclusions and Relevance. The approaches to disclosing climate-related risks and opportunities proposed in the Exposure Draft IFRS S2 Standard can help improve the quality of decision-making by key users of general-purpose financial statements. They can be used by Russian organizations to disclose information on climate-related risks and opportunities.

Keywords: sustainability standards, draft climate-related disclosure standard, climate-related risk, opportunities, industry requirements

References:

1. Abdalova E.B., Karel'skaya S.N. [Global tends in the corporate reporting development]. Uchet. Analiz. Audit = Accounting. Analysis. Auditing, 2022, vol. 9, no. 1, pp. 19–30. (In Russ.) URL: Link
2. Abraham S., Shrives P.J. Improving the Relevance of Risk Factor Disclosure in Corporate Annual Reports. The British Accounting Review, 2014, vol. 46, iss. 1, pp. 91–107. URL: Link
3. Druzhilovskaya E.S. [Problems of risk disclosure in the financial statements of organizations and ways to solve them]. Bukhuchet v zdravookhranenii = Accounting in Healthcare, 2022, no. 5, pp. 21–28. (In Russ.) URL: Link
4. Eremeeva O.S. [Information about future events in financial statements: risk as an object of accounting]. Auditorskie vedomosti = Audit Journal, 2020, no. 1, pp. 27–34. (In Russ.)
5. Efimova O.V., Rozhnova O.V. [The strategy for harmonizing financial and non-financial reporting on climate risk disclosures. Part 1]. Uchet. Analiz. Audit = Accounting. Analysis. Auditing, 2020, vol. 7, no. 3, pp. 18–25. (In Russ.) URL: Link
6. Efimova O.V., Rozhnova O.V. [The strategy for harmonizing financial and non-financial reporting on climate risk disclosures. Part 2]. Uchet. Analiz. Audit = Accounting. Analysis. Auditing, 2020, vol. 7, no. 4, pp. 6–17. (In Russ.) URL: Link
7. Rozhnova O.V., Ermakova M.N., Mel'nik M.V. et al. Analiticheskie vozmozhnosti integrirovannoi otchetnosti i ikh ispol'zovanie dlya strategicheskikh reshenii: kollektivnaya monografiya [Analytical capabilities of integrated reporting and their use for strategic decisions: a collective monograph]. Moscow, KnoRus Publ., 2020, 246 p.
8. Zenkina I.V. [Disclosure of risk information in corporate reporting and its integration into the investment decision-making process]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2022, vol. 25, iss. 4, pp. 387–415. (In Russ.) URL: Link
9. Kogdenko V.G. [Investigating company risks within the framework of the stakeholder approach to analysis]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2018, vol. 17, iss. 6, pp. 1051–1072. (In Russ.) URL: Link
10. Кузьмінський Ю.А., Воронова М.О. Обліково-аналітичні можливості системи бухгалтерського (фінансового) обліку в забезпеченні управління ризиками. Бухгалтерский учет и анализ. 2017. № 1. С. 30–33.
11. Malinovskaya N.V. [Methods of preparation of integrated reporting]. Bukhuchet v stroitel'nykh organizatsiyakh = Accounting in Construction Companies, 2016, no. 4, pp. 58–68. (In Russ.)
12. Nazarova K., Bezverkhyi K., Hordopolov V. et al. Risk Analysis of Companies' Activities on the Basis of Non-Financial and Financial Statements. Agricultural and Resource Economics, 2021, vol. 7, no. 4, pp. 180–199. URL: Link
13. Plotnikov V.S., Plotnikova O.V. [The concept of environmental capital in business accounting and integrated reporting]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2021, vol. 24, iss. 12, pp. 1330–1348. (In Russ.) URL: Link
14. Sapozhnikova N.G. [Formation of risks' information in corporate accounting and reporting]. Uchet. Analysis. Audit = Accounting. Analysis. Auditing, 2021, vol. 8, no. 5, pp. 41–54. (In Russ.) URL: Link
15. Serrasqueiro R.M., Mineiro T.S. Corporate Risk Reporting: Analysis of Risk Disclosures in the Interim Reports of Public Portuguese Non-Financial Companies. Contaduría y Administración, 2018, vol. 63, iss. 2, pp. 1–23. URL: Link
16. Serebryakova T.Yu., Gordeeva O.G. Riski organizatsii. Ikh uchet, analiz i kontrol': monografiya [Risks of the organization: Their accounting, analysis and control: a monograph]. Moscow, INFRA-M Publ., 2019, 233 p.
17. Serebryakova T.Yu., Fedorova L.P., Gordeeva O.G., Malinovskaya N.V. Risks and Internal Control in the Organization Management. Journal of Advanced Research in Dynamical and Control Systems, 2020, vol. 12, no. 7, pp. 322–331. URL: Link
18. Malinovskaya N.V. [New international public reporting initiatives]. Audit, 2021, no. 4, pp. 22–26. (In Russ.)
19. Malinovskaya N.V. [Transformation of global regulation of non-financial reporting]. Ekonomicheskie nauki = Economic Sciences, 2022, no. 2, pp. 114–116. (In Russ.) URL: Link

View all articles of issue

ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

Journal current issue

Vol. 27, Iss. 4 April 2024

Archive