The International Financial Reporting Standards (IFRS) are a set of accounting rules and standards maintained by the International Standards Board (ISB). The IFRS cover a range of accounting topics related to financial reporting. These standards have been expanded to include requirements relating to sustainability reporting. Sustainability topics are covered in the IFRS Sustainability Disclosure Standards.

IBM® Envizi ESG Suite provides systematic data capture, embedded questions, answer guidance and and integrated set of reporting workflow tools to help you create disclosures aligned with IFRS. All of the content is drawn from the Standard and made available directly in the software, including the questions and accompanying guidance. The framework content is presented in Envizi the same way it is laid out in the implementation guidance from the IFRS Standards Level III, including the IFRS Taxonomy, labels, data types and sub-metric codes to make it easier to follow and align with reporting requirements. To further aid interpretation, the following mappings are made:

• Each Standard section corresponds to a single section in Envizi.
• Each Standard topic corresponds to a single question.
• Accompanying guidance provides further guidance on best practice.

Answers can be drawn directly from the underlying data layer that supports that capture of all the data points required by IFRS S1 and S2—both quantitative and qualitative. 

Additionally, users can leverage our SASB managed framework by adding it as a second framework and including the questions and metrics that align to their corresponding sector and operations. 

By leveraging Envizi’s support for the IFRS framework, businesses can save time, reduce risk, and enhance transparency in their sustainability reporting.

Access the full article here.

To learn more about how Envizi can help you meet IFRS requirements, reach out to our team.

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