ICAS and IRC publish documents on materiality in corporate reporting

The Institute of Chartered Accountants of Scotland (ICAS) and the Integrated Reporting Committee of South Africa (IRC) have each published reports discussing the concept of materiality in corporate reporting – both financial and sustainability reporting.
The ICAS report Materiality Assessments in Corporate Sustainability and Financial Reporting: Connectivity, Practices, Processes, and Challenges aims to address the following research questions:
  • How are materiality assessments for sustainability reporting purposes aligned with financial reporting disclosures?
  • What processes and challenges do preparers face when adopting a double materiality perspective?
  • Which links explain the connectivity between impact and financial materiality?
The IRC report FAQ - Explaining Materiality in Corporate Reporting provides a high-level explanation of the materiality definitions and terms used in some of the standards and frameworks commonly applied in corporate reporting.