Appendix C -- Sources of guidance
This appendix is an integral part of AASB S1 and has the same voluntary status as the other parts of the Standard.
C1
This Standard requires (see paragraph 57) that in the absence of an Australian Sustainability Reporting Standard that specifically applies to a sustainability-related risk or opportunity, an entity shall apply judgement to identify information that:
(a) is relevant to the decision-making of users of general purpose financial reports; and
(b) faithfully represents that sustainability-related risk or opportunity.
C2
In making that judgement, an entity may—to the extent that these sources assist the entity in meeting the objective of this Standard (see paragraphs 1–4) and do not conflict with Australian Sustainability Reporting Standards—refer to and consider the applicability of:
(a) the Global Reporting Initiative Standards; and
(b) the European Sustainability Reporting Standards.
C3
In applying the sources of guidance specified in paragraph C2, an entity shall not obscure material information required by Australian Sustainability Reporting Standards (see paragraph B27). If an entity applies the sources of guidance specified in paragraph C2 without applying the requirements in Australian Sustainability Reporting Standards, the entity shall not make an explicit and unreserved statement of compliance with Australian Sustainability Reporting Standards.