Nigeria, June 13 -- The Financial Reporting Council (FRC) of Nigeria is the first reporting regulator to announce the adoption of IFRS S1 and S2 in Africa. This explains why the International Sustainability Standard Board (ISSB) that issued IFRS S1 and S2 always wants to hear from Nigeria on the presentation of the sustainability reports. Four early adopters emerged at the end of the early adoption phase, namely: Access Bank Plc, Fidelity Bank Plc, MTN Nigeria Plc and Seplat Energy Plc. These four companies claimed to have published a sustainability report that complies with IFRS S1 and S2.

A cursory look at their sustainability reports will leave one wondering what should be the content and presentation format of IFRS S1 and S2 sustaina...