Corporate reporting and accounting for externalities

Figures & data

Table 1. Principal qualitative characteristics of externalities information in reporting frameworks.

Principal qualitative characteristics	IASB	GRI	IIRC	TCFD	SASB	CDSB
Relevance (per IASB)
Predictive ability	✓		✓	✓	✓	✓
Confirmatory value	✓			✓	✓	✓
Materiality	✓	✓	✓	✓	✓	✓
Minimal measurement uncertainty	✓
Representational faithfulness (per IASB)
Completeness	✓	✓	✓	✓	✓	✓
Neutrality/balance	✓	✓	✓	✓	✓	✓
Accuracy/freedom from material error	✓	✓	✓	✓	✓	✓
Enhancing characteristics (per IASB)
Comparability/consistency	✓	✓	✓	✓	✓	✓
Verifiability	✓	✓		✓	✓	✓
Timeliness	✓	✓		✓
Understandability/clarity	✓	✓		✓		✓
Other qualitative characteristics
Avoidance of boilerplate disclosures				✓		✓
Use of qualitative and quantitative data		✓	✓	✓	✓	✓
Conciseness			✓
Connectivity of information			✓			✓
Contextualising reported information		✓		✓	✓	✓
Strategic focus			✓	✓
Stakeholder inclusiveness/engagement		✓	✓			✓

Figure 1. Internalising externalities continuum.