IFRS S1 and S2: A Global and Indian Perspective with Implications for Auditors

Kapileshwar Bhalla; Subhrangshu Sekhar Sarkar

doi:10.51244/ijrsi.2025.120800236

January 1, 2025International journal of research and scientific innovation

IFRS S1 and S2: A Global and Indian Perspective with Implications for Auditors

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Key Points

Implementation of IFRS S1 and S2 sets a high standard for sustainability reporting, impacting auditors directly.
Auditors must develop new skills like carbon accounting to effectively verify sustainability information.
The comparison of IFRS and India's BRSR framework highlights significant differences relevant to financial reporting.
The introduction of ISSB standards necessitates a shift in the auditing profession towards more comprehensive skills.

Implication

Article contrasts IFRS S1/S2 with India's BRSR framework, highlighting implications for auditors.

Abstract

This article outlines the framework and purpose of IFRS S1/S2, contrasts them with India's BRSR framework, and examines how their implementation will impact auditors and financial reporting in Indian accounting (Ind AS). We determine that the ISSB standards establish a demanding benchmark for sustainability reporting, requiring auditing professionals to acquire new skills (such as carbon accounting and climate risk modeling) to verify this information.

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Cite This Study

Bhalla et al. (2025) studied this question.

synapsesocial.com/papers/68d90bc641e1c178a14f6e10 https://doi.org/10.51244/ijrsi.2025.120800236

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IFRS S1 and S2: A Global and Indian Perspective with Implications for Auditors

Key Points

Implication

Abstract

Discussion

Cite This Study

IFRS S1 and S2: A Global and Indian Perspective with Implications for Auditors

Key Points

Implication

Abstract

Discussion

Cite This Study

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