IFRS S1 — General Requirements for Disclosure of Sustainability-related Financial Information
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Effective date: |
An entity is required to apply IFRS S1 for annual reporting periods beginning on or after January 1, 2024. Earlier application is permitted. If an entity applies IFRS S1 earlier, it is required to disclose that fact and apply IFRS S2 at the same time. |
| Published by the IASB: |
June 2023 |
| Included in Part I of CPA Canada Handbook: |
Not determined yet
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Overview
IFRS S1 sets out overall requirements with the objective to require an entity to disclose information about its sustainability-related risks and opportunities that is useful to the primary users of general purpose financial reports in making decisions relating to providing resources to the entity.
History of IFRS S1
The following table shows the history of this standard subsequent to the adoption of IFRS in Canada.
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Date1 |
Development |
Comments |
Included in Part I of the CPA Canada Handbook2 |
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June 26, 2023 |
An entity is required to apply IFRS S1 for annual reporting periods beginning on or after January 1, 2024. Earlier application is permitted. If an entity applies IFRS S1 earlier, it is required to disclose that fact and apply IFRS S2 at the same time. The following transitional reliefs are available:
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Not determined yet |
Notes
- For further details of relevant developments prior to this, please refer to our Deloitte Global section.
- Newly issued, amended or revised IFRSs are part of Canadian GAAP only after they are approved by the Accounting Standards Board in accordance with its due process.
The above summary does not include details of consequential amendments made as the result of other projects.
Amendments under consideration
- None
