Authored by Sue Todd, CPA, CA. Coro was the Strategic Advisor and Editorial Director.
Disclosing With Purpose: Guidance for Preparers and Users for Purpose Disclosures provides guidance to social purpose companies seeking to disclose progress on their purpose. It proposes a voluntary framework consisting of purpose disclosure objectives with examples of how to fulfill them. The guidance is informed by familiar disclosure elements in other standards and frameworks.
The primary audience for Disclosing With Purpose: Guidance for Preparers and Users for Purpose Disclosures are the preparers and users of social purpose disclosures.
Part 1 of Disclosing With Purpose: Guidance for Preparers and Users for Purpose Disclosures includes an introduction and summary of the purpose disclosure guidance. Part 2 follows with an explanation of the framework elements, showing examples of current practice for each element, and discussion of some conceptual and practical issues addressed by the framework. Part 3, the core of the guidance, is the detailed framework. Part 4, supporting information, includes frequently asked questions, sources and acknowledgements. The Appendix provides tools for using these purpose disclosures with the International Sustainability Standards Board (ISSB) standard International Financial Reporting Standards (IFRS) S1 or the Integrated Reporting Framework.
Examples from current practice are included to illustrate possible approaches to parts of each element.
The Purpose Disclosures include seven core disclosure elements with 24 supporting objectives.
Disclosing With Purpose: Guidance for Preparers and Users for Purpose Disclosures also sets out seven framework principles, as follows.
- Flexibility
- Voluntary
- Compatibility
- Objectives-based
- Information mix
- Progress
- Business oriented
