International Financial Reporting Standards (IFRS)

As we observe currently, company are too focused on reports and disclosure, seeing them as the goal instead of useful tools. The real goal is not the report itself, but to be inline with the Sustainability Development Goals, Climate Change pledge and achieving its ambitious target.

The reporting is not about collecting the data for only “keeping the data as the records” but they are designed as “informed decision making”. This should become our guidebook.

As we are already aware, National Sustainability Reporting Framework (NSRF) is using IFRS as a baseline disclosure requirements. It is about double materiality assessment as a tool for decision making which is more relevant for business entities. This involved both inside-out impact and outside-in impact which consider the cash-flow, financial position and financial performance.

If you need support with your reporting or navigating these changes, feel free to reach out! I’m happy to help.

Register at: GEES GROUP (previously known as HSE Group)
https://lnkd.in/gPiGnUqe.