Cas3701 Assignment 6 (Detailed Answers) 2024 - Distinction Guaranteed

CAS3701 Assignment 6 (DETAILED ANSWERS) 2024 - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED Answers, guidelines, workings and references ...... Part 1 The seven guiding principles of the Integrated Reporting Framework (IRF) which impact the presentation of the Intergrated Report are as follows: - Strategic focus and future orientation - Connectivity of information - Stakeholder relationships - Materiality - Conciseness - Reliability and completeness - Consistency and comparability The qualitative characteristics of the IFRS Conceptual Framework (IFRS) which impact the presentation of the annual financial statement (AFS) are as follows: - Relevance - Faithful Representation - Comparability - Verifiability - Timeliness - Understandability The Integrated Reporting Framework is mainly concerned with the presentation of an entity’s financial and non-financial information in the integrated report of a company which communicates its value creation process. However, the IFRS Conceptual Framework is mainly concerned with the presentation of an entity’s financial information in the AFS. Required: Select the Intergrated Report including the financial statements (AFS) of a JSE-listed (Johannesburg Stock Exchange | JSE) company of your choice. The Integrated Report and AFS should be for the financial year ending 2022. 1. Compare and/or contrast any of the seven guiding principles of the Integrated Reporting Framework (IRF) with any one of the qualitative characteristics of the IFRS Conceptual Framework (IFRS). Your comparison and contrast must be practically applied using actual examples from the 2022 Integrated Report and AFS your group selected. In your solution cover the following topics as your headings: - Remuneration - Accuracy of information - Sustainability issues - Whether the information reflects the needs of the users of the Integrated Report and AFS. 2. Provide a conclusion on the comparison made between the chosen guiding principles and the qualitative characteristics under 1 above Part 2 The United Nations Sustainable Development Goals (UN SDGs) and the principles of the United Nations Global Compact that companies should follow in adopting the UN SDGs, are presented below. Part 2: Addressing the UN SDGs and UN Global Compact Principles