AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information
Australia's voluntary general sustainability disclosure standard, the IFRS S1 equivalent: what to disclose about governance, strategy, risk management and metrics and targets for sustainability-related risks and opportunities that could affect an entity's prospects, and the rules on materiality, location, timing, comparatives, compliance statements, judgements and errors.
AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information is a compliance framework from Australia with 8 domains and 18 controls. The largest domains are General requirements (paragraphs 54 to 73) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information (4 controls), Strategy (paragraphs 28 to 42) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information (4 controls), Conceptual foundations (paragraphs 10 to 24) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information (3 controls). Every control below carries what it requires and what an assessor expects to see.
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Framework Domains (8)
Conceptual foundations (paragraphs 10 to 24) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information
| Code | Title |
|---|---|
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::11 | Fair presentation of all sustainability risks and opportunities that could affect prospects |
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::17 | Materiality |
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::20 | Reporting entity and connected information |
Effective date and transition (Appendix E) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information
| Code | Title |
|---|---|
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::E1 | Effective date and first-year transition |
General requirements (paragraphs 54 to 73) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information
| Code | Title |
|---|---|
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::54 | Sources of guidance for identifying risks, opportunities and disclosures |
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::60 | Location of disclosures and cross-referenced information |
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::64 | Timing of reporting and interim reports |
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::70 | Comparative information and the statement of compliance |
Governance (paragraphs 26 and 27) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information
| Code | Title |
|---|---|
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::27 | Governance disclosures |
Judgements, uncertainties and errors (paragraphs 74 to 86) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information
| Code | Title |
|---|---|
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::74 | Judgements and measurement uncertainty |
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::83 | Errors |
Metrics and targets (paragraphs 45 to 53) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information
| Code | Title |
|---|---|
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::46 | Metrics: required by other standards, by sources of guidance and entity-defined metrics |
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::51 | Targets: what must be disclosed and how metrics are labelled and compared |
Risk management (paragraphs 43 and 44) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information
| Code | Title |
|---|---|
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::44 | Risk management disclosures |
Strategy (paragraphs 28 to 42) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information
| Code | Title |
|---|---|
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::30 | Strategy: the sustainability risks and opportunities themselves |
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::33 | Strategy: business model, value chain and effects on strategy and decision-making |
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::35 | Strategy: financial position, financial performance and cash flows |
| aasb-s1-general-requirements-for-disclosure-of-sustainability-related-financial-information::41 | Strategy: resilience |
What is AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information and who does it apply to?
AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information is a compliance framework from Australia with 8 domains and 18 controls. Australia's voluntary general sustainability disclosure standard, the IFRS S1 equivalent: what to disclose about governance, strategy, risk management and metrics and targets for sustainability-related risks and opportunities that could affect an entity's prospects, and the rules on materiality, location, timing, comparatives, compliance statements, judgements and errors. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
What does AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information actually require?
AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information has 18 controls organised across 8 domains. The largest domains are General requirements (paragraphs 54 to 73) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information (4 controls), Strategy (paragraphs 28 to 42) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information (4 controls), Conceptual foundations (paragraphs 10 to 24) – AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information (3 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
If I already comply with another framework, how much of AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information do I already cover?
AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information does not currently have cross-framework mappings in our system. Check back as we continuously expand our mapping database.
How do I implement AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information?
Start your AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information compliance journey by running a self-assessment on our platform to identify your current compliance posture. Our AI advisory can answer specific questions about AASB S1 General Requirements for Disclosure of Sustainability-related Financial Information requirements, and cross-framework mapping helps you leverage existing controls from other frameworks you may already comply with. Create a free account to access all 18 controls and track your progress.
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