Business Services Firm - Future of Climate Change Disclosures - Woolworths Ltd and BHP Ltd - Finance Assignment Help

Assignment Task :

Part 1: Report  

You are a recent graduate working for a Big 4 business services firm (i.e. EY, Deloitte, PWC or KPMG) in Australia. Many of your large, listed clients are interested in the future of climate change disclosures. Your manager has asked you to prepare a report which is to be presented to the staff of your own firm to update them on current climate change disclosure practices and possible future changes.  The report should include the following:

1. To illustrate current practice, provide a comparative analysis, highlighting both similarities and differences, between the climate-related disclosure of Woolworths Ltd and BHP Ltd for the 2019 year-end. Please include both annual reports and sustainability reports in your analysis.  

Your analysis should include examples and cover at least the following aspects:

2. 1. Types of climate-related topics covered. 

   2. Whether disclosures are qualitative and/or quantitative. 

   3. Whether disclosures are inward impact (i.e. impact of climate change on the company) and/or outward impact (i.e. impact of the company on climate change) focused. 

   4. Where disclosure is reported: 

      1. 1.  Annual and/or sustainability report?

         2. What section(s) of the annual report (e.g. Director’s report, management commentary, financial statements and notes)? 

   5. What guidelines do companies refer to in the reports (if any) for climate related disclosures? 

2. Discuss your findings in (a) in terms of the IASB Chair’s comments about “two streams of sustainability reporting”. Explain whether the current disclosure in the two companies shows influence of one and/or both ‘streams’. Based on the IASB chair’s speeches, comment on whether and how you think the current disclosure may change in the future 

3. Discuss how the climate related disclosure in the future may or may not change in terms of the AASB-AUASB report 

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