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International Accounting
 

International sustainability reporting standards: A comparative analysis

Vol. 25, Iss. 11, NOVEMBER 2022

Received: 22 September 2022

Received in revised form: 26 October 2022

Accepted: 31 October 2022

Available online: 15 November 2022

Subject Heading: INTERNATIONAL STANDARDS OF ACCOUNTING AND REPORTING

JEL Classification: M40, М41

Pages: 1206–1224

https://doi.org/10.24891/ia.25.11.1206

Natal'ya V. MALINOVSKAYA Financial University under Government of Russian Federation, Moscow, Russian Federation
nvmali@mail.ru

https://orcid.org/0000-0001-8153-2233

Subject. This article discusses the Exposure Drafts of International Sustainability Reporting Standards.
Objectives. The article aims to explore the particularities of the architecture of Drafts Sustainability Reporting Standards submitted by the International Sustainability Standards Board (ISSB) under the IFRS Foundation and the Project Task Force on European Sustainability Reporting Standards.
Methods. For the study, I used analysis, synthesis, comparison, and generalization.
Results. Based on a comparative analysis of the architecture, provisions and substance of the Exposure Drafts submitted by the two developers, the article notes that there are certain differences in aspects of the organization's activities covered by the studied systems of standards, goal-setting, and approaches to determining the materiality and applicability.
Conclusions and Relevance. The Exposure Drafts of the International Sustainability Standards Board (ISSB) under the IFRS Foundation aim to meet the information needs of capital markets, and they are based on the concept of financial materiality. The application of the European Standards will provide information in the field of sustainable development to a wide range of stakeholders, since they are based on the concept of double materiality. Both the systems aim to create conditions for more complete, coherent, comparable, and verifiable information in the field of sustainable development. The results of the study can be applied in the development of Russian requirements for the disclosure of sustainability-related information.

Keywords: sustainability reporting standards, cross-cutting standards, topical standards, industry-based requirements, financial materiality, double materiality

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