10 May 2023

IFRS S2 about to drop

In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again.

  1. What is the ISSB?

  2. How many standards are currently in development by the ISSB?

  3. Which, if any, of the following statements are true? Statement 1, Scope 1-3 emissions disclosures will need to be disclosed in IFRS S2, or Statement 2, There will be a temporary exemption of 1 year for scope 3 disclosures in IFRS S2

  4. What is IFRS S2 concerned with?

  5. Which of these is NOT one of the four sections required by IFRS S2?

  6. In which section should entities disclose their business model’s resilience to climate?

  7. Which two types of risk need to be identified?

  8. Which of these statements is true? Statement 1, IFRS S2 comes with an appendix of metrics per industry, or Statement 2, Appendix B is not mandatory for application

  9. Which section has resulted in the most pushback from respondents?

  10. Which, if any, of the following statements is correct? Statement 1, IFRS S1 is an underpinning standard, rather than containing specific disclosures, or Statement 2, Implementation of these standards will be applicable in 2023

1 Unit