IFRS S1 and S2: A Global and Indian Perspective with 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.