IMPACT OF CLIMATE CHANGE ON FINANCIAL REPORTING AND CORPORATE GOVERNANCE
DOI:
https://doi.org/10.56362/Rev23101023VKeywords:
climate change, climate accounting, financial reportingAbstract
This paper discusses the implications of ecology and sustainability on financial statements prepared in accordance with IFRS. International financial reporting standards include activities and methods that recognize, value, display and disclose economic, social and environmental impacts on the sustainability of a business entity. The aim of this paper is to identify accounting regulations that take into account the risks of climate change. Research of the available literature shows that the risk of climate change increasingly affects investment decisions, creating financial risks, and at the same time provides new opportunities for business entities.
References
Brundtland G. H., et al. (1987). Our Comon Future. Report of the World Commision on Enviroment and Development, Oxford University Press ‘’Human Development Report 2001’’.
CDSB, KPMG, (2021). Accounting for climate, https://www.cdsb.net/sites/default/files/cdsb_climateaccountingguidance_2021_v4.pdf, (09.02.2023)
Damnjanović, S. (2021). Priručnik za kompanije „Korak po korak do nefinansijskog izveštaja“. Smart kolektiv Beograd.
EY (2022). Applying IFRS Accounting for climate change, (20.02.2023.), https://www.ey.com/en_gl/ifrs-technical-resources/applying-ifrs-accounting-for-climate-change-updated-may-2022
IAS 1 (MRS 1), https://www.mfin.gov.rs//upload/media/JgWljh_6015e1eeed5ad.pdf
IAS 2 (MRS 2), https://www.mfin.gov.rs//upload/media/YV3e9Z_6015e2080f972.pdf
IAS 12 (MRS 12), https://www.mfin.gov.rs//upload/media/8CySDD_6015e25e06985.pdf
IAS 16 (MRS 16), https://www.mfin.gov.rs//upload/media/G0ZTMK_6015e2776892f.pdf
IAS 36 (MRS 36), https://www.mfin.gov.rs//upload/media/4etY0C_6015e3c775d80.pdf
IAS 37 (MRS 37), https://www.mfin.gov.rs//upload/media/4ciZX-1_6015e3e1338a2.pdf
IAS 38 (MRS 38), https://www.mfin.gov.rs//upload/media/bDHlCd_6015e3fa6b0ef.pdf
IAS 41 (MRS 41), https://www.mfin.gov.rs//upload/media/ dCGOit_6015e44366a04.pdf
IASB (2021). IFRS Staff Paper: Post-implementation Review of IFRS 9-Classification and Measurement: Feedback on financial assets with sustainability linked features, https://www.ifrs.org/content/ dam/ifrs/meetings/2021/july/iasb/ap3b-pir-ifrs-9-cm-feedback-onfinancial-assets-with-sustainability-linked-features.pdf
IFAC (2022). Time for action on sustainability: next steps for the accountancy profession, https://www.ifac.org/system/files/publications/files/IFAC-Time-for-Action-on-Sustainability.pdf
IFRS 3 (MSFI 3) Poslovne kombinacije https://www.mfin.gov.rs//upload/media/aKQ39I_6015e649c8cfa.pdf
IFRS 6 (MSFI 6) Istraživanje i procenjivanje mineralnih resursa https://www.mfin.gov.rs//upload/media/uBNSyH_6015e68cc8dc3. pdf
IFRS 7 (MSFI 7), https://www.mfin.gov.rs//upload/media/dSWFfw_6015e6a2a7975.pdf
IFRS 8 (MSFI 8), https://www.mfin.gov.rs//upload/media/y2PKcF_6015e6b97c293.pdf
IFRS 9 (MSFI 9), https://www.mfin.gov.rs//upload/media/Fvxtj9_6015e6cf04564.pdf
IFRS 13 (MSFI 13), https://www.mfin.gov.rs//upload/media/tzSYGn_6015e72bd1e66.pdf
IFRS 17 (MSFI 17), https://www.ifrs.org/issued-standards/list-ofstandards/ifrs-17-insurance-contracts/
KPMG (2021), Accounting for climate, https://www.cdsb.net/sites/ default/files/cdsb_climateaccountingguidance_2021_v4.pdf
Stanković, D. & Trivan, G. (2009). Održivi razvoj u koncepciji multidisciplinarnog pristupa zaštite životne sredine, Topola, (183/184): 129-136.
United Nations, Framework Convention on Climate Change, FCCC/ CP/2015/L.9/Rev.1, https://unfccc.int/resource/docs/2015/cop21/ eng/l09r01.pdf
Vićentijević, K. (2019). Konjička industrija u svetlu cirkularne ekonomije, Zbornik radova II Međunarodna naučno-stručna konferencija „Regionalni razvoj i prekogranična saradnja“, Pirot, 39-47.
Vićentijević, K. (2020). Uloga nefinansijskog izveštavanja u konjičkoj industriji, Agroekonomika, Vol. 48, No 86: 81-92.
Vićentijević, Kosana (2022). Konsekvence cirkularne ekonomije na računovodstvenu regulativu, Zbornik radova sa Međunarodne naučnostručne konferencija MEFkon 2022 „Inovacije kao pokretač razvoja“, Beograd, str. 234-242.
Vićenijević, K. (2022a). Računovodstvo održivosti u funkciji dodate vrednosti privrednog entiteta, 10. Međunarodni simpozij „Finansije, računovodstvo, menadžment – jučer danas sutra“, Tuzla, 258-265.
Vićentijević, K. (2022b). Izazovi Internet of Things tehnologije na trendove u računovodstvenoj profesiji. Revizor, 25(100), 31–40. https://doi.org/10.56362/Rev22100031V
Vićentijević, K., Rakić, S., & Marković, V. (2022). Integration of CSR and SDG in creating added value of the textile industry. Tekstilna industrija, 70(3), 26-31. https://doi.org/10.5937/tekstind2203026V
