Assessment 6 - PART B – CASE STUDY

Due date – 28 June 2024

This is a group assessment and must be completed by all members of the group.

NOTE THE FOLLOWING SUBMISSION INSTRUCTIONS

1. All submissions must be typed.

2. Use Font Arial and Font size 11
3. References should be made to page numbers in the <IR> and AFS.
4. Provide a list of references used, in line with the Harvard Referencing method.

Part 1

The seven guiding principles of the Integrated Reporting Framework (IRF) which impact the
presentation of the <IR> are as follows:
- Strategic focus and future orientation
- Connectivity of information
- Stakeholder relationships
- Materiality
- Conciseness
- Reliability and completeness
- Consistency and comparability

The qualitative characteristics of the IFRS Conceptual Framework (IFRS) which impact the
presentation of the annual financial statement (AFS) are as follows:
- Relevance
- Faithful Representation
- Comparability
- Verifiability
- Timeliness
- Understandability
The Integrated Reporting Framework is mainly concerned with the presentation of an entity’s
financial and non-financial information in the integrated report of a company which communicates
its value creation process. However, the IFRS Conceptual Framework is mainly concerned with
the presentation of an entity’s financial information in the AFS.

Required:
Select the <IR> including the financial statements (AFS) of a JSE-listed company of your choice.
The <IR> and AFS should be for the financial year ending 2022.

1. Compare and/or contrast any of the seven guiding principles of the Integrated Reporting
Framework (IRF) with any one of the qualitative characteristics of the IFRS Conceptual
Framework (IFRS). Your comparison and contrast must be practically applied using actual
examples from the 2022 <IR> and AFS your group selected.

In your solution cover the following topics as your headings:

- Remuneration
- Accuracy of information
- Sustainability issues
- whether the information reflects the needs of the users of the <IR> and AFS.

2. Provide a conclusion on the comparison made between the chosen guiding principles and
the qualitative characteristics under 1 above.

Refer to the below set of examples that guide you on how to answer the question. We utilised the
topic Revenue for the purpose of the example.

First example
Revenue
Consistency and comparability (IRF) vs Comparability (IFRS)

Reason for comparison of IRF guiding principle with IFRS qualitative characteristic:
The IRF states that a <IR> should be presented in a consistent manner over time and allow for
comparison with other entities (IRF 2021).
Similarly, the comparability qualitative characteristics of the IFRS Conceptual Framework state
that information about an entity is more useful if it can be compared against the same entity
over time or with other entities (IASB 2018).

The guiding principle and qualitative characteristics are aligned because they both require a
comparison of information over time and with others.

Framework IRF <IR> IFRS (AFS)

Item Consistency and comparability Comparability
Comparison and On page 79 of BankCo. Limited’s <IR>, net On the face of the
contrast and practical interest income ratio as well as non-interest BankCo. Limited’s
example. revenue ratio are presented from 2019 till Statement of
2022 to show the performance of the bank Comprehensive Income
over time. (page 21), the bank’s
Interest and similar
 income as well as Non-
interest revenue and
income (revenue)
performance is
compared over 2022
and 2021 years using
the same line items.
Explanation The examples selected above show a comparison and performance
of revenue over the respective years and meet both the objectives of
both the consistency and comparability guiding principle and
comparability qualitative characteristic.
Conclusion BankCo. Limited’s AFS and <IR> achieve the principle and qualitative
characteristic. The information is aligned.

Second example
Revenue
Strategic focus and future orientation (IRF) vs Relevance (IFRS)

Strategic focus and future orientation means that a <IR> should provide insights into the
company’s strategy, and how it relates to its plans, creates value over time as well as the effect
on the capitals (IRF 2021).
On the other hand, Relevance (IFRS) means that the financial information in the AFS should
have the ability to influence the decision-making of users. Materiality also stems from relevance,
and something is material if it can influence decisions of users (IASB 2018).

The guiding principle and qualitative characteristics are aligned because an <IR> might detail
the company’s strategy which could also be relevant to its users’ decision-making.

Framework IRF (IR) IFRS (AFS)

Item Strategic focus and future Relevance
orientation
Comparison and contrast and Page 80 of BankCo. Limited’s Note B6 in BankCo. Limited’s
practical example <IR>, shows how Notes to the AFS (page 43),
performance of its revenue comprehensively covers the
impacted its value creation. type of revenue generated by
Information about the future, the bank. And because this is
2023 outlook, is also a bank, the type of revenue
provided. reflects the nature of the
business (e.g. income from
home loans, credit cards,
overdrafts …etc) which is
useful to users of BankCo.’s
AFS.
Explanation The examples selected have provided important information
about the bank’s strategy and material information about the
revenue of BankCo. which can be relevant to users.
 Conclusion BankCo. Limited’s AFS and <IR> achieve the principle and
qualitative characteristic since material information which can
influence the decision-making of users is included.

Part 2

The United Nations Sustainable Development Goals (UN SDGs) and the principles of the United
Nations Global Compact that companies should follow in adopting the UN SDGs, are presented
below.

Figure 1: 17 United Nations’ Sustainable Development Goals (UN SDG’s).

Figure 2: UN Global Compact 10 principles for company adoption of UN SDGs.

Required:
Using the 2022 JSE <IR> your group has selected:

1. Select any 2 of the UN SDGs that your chosen company supports. Explain how your
selected company plans to achieve these goals.

2. The United Nations Global Compact developed 10 principles that companies can utilise to
address the UN SDGs as depicted in Figure 2 above. Of these 10 principles, select any 5
principles and explain how they have been used to address the 2 SDGs selected in 1 above.

The five principles must be selected in such a manner that each category/group of principles
is covered as outlined below:

2 principles from Labour standards

1 principle from Environment
1 principle from Anticorruption
1 principle from Human rights

Use the table below to address this required:

UN SDG Principle United Nations Global How has the principle been
Addressed No. Compact development addressed
principle

3. Assume the role of a member of the National Legislator (Parliament) in South Africa.
As a member of Parliament suggest areas of improvement as well as recommendations for
the 2022 <IR> prepared by your selected company. Base your recommendations and
improvement areas on sustainability matters, the UN SDGs as well as the United Nations
Global Compact Principles that your group selected and discussed under 1 and 2 above.
Assessment 6 - PART C – GROUP WORK

Due date – 28 June 2024

Under this part, team members will evaluate the group’s collective performance in
completing the assessment. This part must be completed by all team members and not
individually.

Required:
Reflect on the overall performance of the group, and together as a team answer the below
questions.

1. What was the level of accountability of all the team members and did all equally participate
in all the tasks?
(You can give an overall response or specifics if necessary). Example – Student A made
no contribution to meeting 3 and was not helpful. / Student B did not attend meeting 1 but
made an effort to watch the recording or call the team leader so that they can be up to
date with what is happening in the team. / All the team members participated fairly in
providing answers to the case study …etc.).

2. Did all team members contribute meaningfully to the overall project by producing quality
work?
(You can give an overall response or specifics if necessary). Example – Student A
produced sub-standard work that did not meet requirements. / All the team members
contributed equally in answering the case study and level of answers shows good
understanding of the subject matter …etc.).

3. Did all team members deliver on their tasks on time?

(You can give an overall response or specifics if necessary).

4. How was conflict managed in your team?

(You can give an overall response or specifics if necessary).
PART B – CASE STUDY

Assessment rubric: Part B – Case Study

Rubric Criteria 0 points - Not 1 point - Fair 2 points – Good 3 points – Maximum Group Feedback
demonstrated Excellent Mark Mark

Part 1
Question 1 - Integrated Reporting
Comparison of the Fails to compare any Compares only one Compares between Compares four 3
IRF guiding guiding principle with guiding principle with two or three (2 -3) guiding principles
principles with the a qualitative a qualitative guiding principles with with the qualitative
qualitative characteristic. characteristic. the qualitative characteristics using
characteristics characteristics, the four headings
contained in the OR using between two provided.
IFRS Conceptual or three (2 -3)
Framework using Comparison and headings out of the
the following four contrast do not use total four.
headings: the four headings
required.
- Remuneration
- Accuracy of
information
- Sustainability
issues
- whether the
information meets
the needs of users
of the <IR> and AFS.
Provides a Fails to provide a Provides a basic Provides a clear and Provides a clear and -
discussion on the discussion and (generic) discussion coherent discussion coherent discussion
comparison of the comparison of the and comparison and comparison and comparison
selected IRF guiding IRF principle and the between the IRF between the IRF between the IRF
principle with an IFRS Conceptual principle and the principle and the principle and the
IFRS qualitative Framework qualitative IFRS Conceptual IFRS Conceptual IFRS Conceptual
characteristic. characteristic. Framework qualitative Framework qualitative Framework qualitative
characteristic. characteristic. characteristic.
Provide your OR
discussion under each OR AND
of the following Not a valid
headings: comparison between Lacks clarity in Provides additional
the IRF principle and discussion and insight into the validity
the IFRS Conceptual comparison of IRF of the comparison.
Framework qualitative principle and the
characteristic. IFRS Conceptual
Framework qualitative
characteristic.

- Remuneration 3
- Accuracy of information 3
- Sustainability issues 3
- whether the information reflects the needs of users of the <IR> and AFS 3
Identifies and For each valid For each valid For each valid For each valid -
explains the practical comparison made - comparison made – comparison made – comparison made –
examples from the
selected 2022 <IR> Fails to identify and The practical Identifies and Identifies and
and AFS in relation explain relevant examples identified explains the explains the
to the comparison practical examples are not from the comparison using a comparison using a
made for each topic. from the 2022 <IR> 2022<IR> and/or AFS relevant practical relevant practical
and AFS selected selected. example. The example.
Provide your that support the explanation is basic
discussion under each comparison. OR (generic). AND
of the following
headings: Practical examples
provided display a
 Do not support the logical link to the
comparison and/or comparison made
are illogical. between the guiding
principle and
qualitative
characteristic.
- Remuneration 3
- Accuracy of information 3
- Sustainability issues 3
- whether the information reflects the needs of users of the <IR> and AFS 3
Provides a For each valid comparison made: -
conclusion on the
comparison made Provides a logical and coherent conclusion (max 1 mark per valid comparison).
between the guiding
principle and
qualitative
characteristic.

Provide your
discussion under each
of the following
headings:
- Remuneration 1
- Accuracy of information 1
- Sustainability issues 1
- whether the information reflects the needs of users of the <IR> and AFS 1
Part 2
Question 1 - The 17 United Nations’ Sustainable Development Goals (UN SDGs)
Selection of United Fails to identify any Identifies at least one Identifies two UN N/A 2
Nations Sustainable UN SDG. UN SDG. SDGs.
Goals (UN SDGs).

Explanation of how Fails to provide any Provides a basic Provides a clear Provides a clear, well- 3
the selected explanation of how explanation of how explanation of how structured, and
company has the company plans the company has the company has comprehensive
outlined its plans to to achieve the outlined its plans to outlined its plans to understanding of how
achieve the UN SDGs relevant UN SDG. achieve the relevant achieve the relevant the company has
as per the company UN SDG. UN SDG. outlined its plans to
Integrated Report. OR achieve the relevant
UN SDG.
Lacks clarity in
explaining how the
company has
outlined its plans to
achieve the relevant
UN SDG.
Question 2 - The United Nations Global Compact principles
Identification and Fails to select any Identifies and selects Identifies and selects N/A 2
selection of the valid United Nations less than five valid five valid United
United Nations Global Compact United Nations Global Nations Global
Global Compact principle. Compact principles Compact principles
principles using the using the formula using the formula
below formula: OR provided. provided.
Labour standards 2
principles Identifies and
Environment 1 selects five valid
principle United Nations
Anticorruption 1 Global Compact
principle principles BUT the
Human rights 1 selection is not in
principle line with the
Total 5 Principles formula.
Explanation of the For each valid For each valid For each valid For each valid 3
application of the principle selected - principle selected - principle selected - principle selected -
United Nations
Global Compact Fails to provide an Provides a basic Provides a clear and Provides a clear and
principles. explanation of how explanation of how coherent explanation coherent explanation
the principle the principle of how the principle of how the principle
addresses the addresses the addresses the addresses the
selected UN SDG. selected UN SDG. selected UN SDG. selected UN SDG.

OR AND

lacks clarity in provides additional

explaining how the insight into the
principle addresses relevance of the
the selected UN United Nations Global
SDG. Compact principle.
Question 3 – Role of a member of the National Legislator (Parliament)
Recommendations Fails to identify and Identifies and Identifies and Clearly identifies and 3
and explanation for articulate relevant articulates articulates articulates the
improvement areas recommendations recommendations recommendations recommendations
and improvement and improvement and improvement and improvement
areas. areas, with significant areas, with some areas that have
gaps or limited minor gaps or some relevance to the
understanding of their relevance to the company and UN
relevance to the company and UN SDGs.
company and UN SDGs.
SDGs.
Content
Knowledge and Displays limited Displays logical N/A N/A 1
understanding understanding of the understanding of the
module content, module content,
struggles to which is evidenced by
articulate themselves explanations that
clearly. convey convincing
and coherent
arguments.
 Communication
Tone and style Informal style of Tone and style of N/A N/A 1
communication used communication are
with a complete professional and
disregard for appropriate for the
audience and context. audience and context.

Grammar Usage Mechanical or Almost no mechanical N/A N/A 1

grammatical errors or grammatical errors
are present.
Plagiarism Plagiarism detected N/A N/A Group avoided 3
plagiarism (as defined
in UNISA’s plagiarism
policy).
References No referencing done Some form of A list of references N/A 2
(page numbers and referencing has been has been given in
list of references have done (including only line with the
been excluded). providing a list of referencing
references and no guidance provided.
page numbers or vice
versa) AND

Specific reference to
page numbers.
Sub - total 52
PART C - GROUPWORK

Assessment rubric: Part C - Groupwork

Rubric Criteria 0 points - Not 1 point - Fair 2 points – Good 3 points – Excellent Maximum Group Feedback
demonstrated Mark Mark

Accountability of The team members Team members All team members All team members 3
team members did not participate in somewhat participated in all participated in all
any tasks or participated in tasks tasks and meetings. tasks and meetings.
meetings. Team and meetings and Team members held Team members went
members did not made a minor themselves above and beyond
display a sense of contribution to the accountable and what was required,
accountability and group project. made a good provided outstanding
contributed nothing to contribution to the individual
the group project. good project. contributions and fully
held themselves
accountable.
Quality of work Quality of work Quality of work Quality of work Quality of work 3
produced produced by all team produced by team produced by team produced by all team
members was poor members was low, members was members was
and did not meet showed some consistently high, significant and
requirements. attention to detail showed attention to consistently exceeded
with some small level detail, had minor expectations and
of accuracy. errors and showed a assessment
good understanding requirements. The
of the subject matter. work submitted by all
The level of work team members was
produced by team accurate, showed
adhered to all attention to detail, had
assessment minor errors and
instructions. displayed advanced
 understanding of the
subject matter.
Time management Team members did Team members tried Team members Team members 3
not manage their to manage their time managed their time managed their time
time effectively and effectively but missed effectively and met all effectively and
missed multiple some deadlines set deadlines set by the consistently
deadlines set by the by the group. group. submitted their work
group. ahead of set
deadlines.
The assessment
had high quality
work and was
submitted on the
main site way ahead
of the due date.
Conflict Team members Team members tried Team members tried All team members 3
management could not manage to somewhat handle to mostly handle were all exemplary
conflict effectively, conflict well but did conflict well, actively and managed
were disrespectful, not constantly listen listen to each other conflict very well. All
could not listen to to each other and and remained team members were
each other and remain respectful. respectful. The team consistently actively
could not The team tried to worked together listening to each
collaboratively work somewhat collaboratively other and remained
together towards a collaboratively work towards a resolution. respectful. Team
resolution. together towards a members created a
resolution. camaraderie spirit,
and consistently
worked together
collaboratively
towards a
resolution.
Sub - total 12

GRAND TOTAL (PART A, B AND C) 64

References:

IASB (International Accounting Standards Board). 2018. Conceptual framework for financial
reporting. IFRS Foundation. Retrieved from https://www.ifrs.org/issued-standards/list-of-
standards/conceptual-framework.html/content/dam/ifrs/publications/html-
standards/english/2024/issued/cf/ [Accessed 18 February 2024].

IRF (Integrated Reporting Framework). 2021. Integrated Reporting Framework. IFRS Foundation.
Retrieved from https://integratedreporting.ifrs.org/resource/international-ir-framework/ [Accessed
18 February 2024].