The qualitative characteristics identified in the Global Reporting Initiatives (GRI)Guidelines are similar with those provided in AASB 101 Presentation of Financial Statements.

Question

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The qualitative characteristics identified in the Global Reporting Initiatives (GRI) Guidelines focus on sustainability reporting and include principles such as stakeholder inclusiveness, sustainability context, materiality, and completeness. In contrast, AASB 101 Presentation of Financial Statements, which is aligned with IAS 1, emphasizes financial reporting principles such as understandability, relevance, reliability, and comparability. These sets of characteristics serve different purposes and are tailored to the specific needs of financial versus sustainability reporting.

The Qualitative Characteristics Identified in the Global Reporting Initiatives (GRI)Guidelines