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Effect of IFRS S1 and S2 Education on Sustainability Reporting Knowledge among Accounting Education Students in Nigeria

Abstract

The increasing global emphasis on sustainability, climate-related financial information, and transparent corporate reporting has created a growing need for accounting professionals who understand emerging sustainability disclosure requirements. The issuance of IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2, Climate-related Disclosures, by the International Sustainability Standards Board (ISSB) has strengthened the importance of sustainability reporting knowledge within accounting education. These standards provide a framework for communicating material sustainability-related and climate-related financial information to users of general-purpose financial reports. Accounting education students in Nigeria therefore require relevant knowledge of the principles, concepts, disclosure requirements, and practical applications associated with IFRS S1 and IFRS S2. However, limited exposure to these emerging standards may create knowledge gaps among students and future accounting educators and professionals. Against this background, this study investigates the effect of IFRS S1 and S2 education on sustainability reporting knowledge among accounting education students in Nigeria. The study will be anchored on Human Capital Theory, Stakeholder Theory, and Constructivist Learning Theory. Human Capital Theory explains how investment in specialized education and professional knowledge can improve students' competencies, productivity, and employability. Stakeholder Theory emphasizes the importance of providing relevant, reliable, and transparent sustainability-related information to stakeholders who require such information for decision-making. Constructivist Learning Theory emphasizes active learning, practical application, problem-solving, and knowledge construction through meaningful educational experiences, providing a basis for examining how IFRS S1 and S2 education may improve students' understanding of sustainability reporting. Collectively, these theoretical perspectives provide a suitable framework for explaining how education on IFRS S1 and IFRS S2 may influence sustainability reporting knowledge among accounting education students in Nigeria. The study will adopt a quantitative quasi-experimental or analytical cross-sectional research design. The study population will comprise undergraduate and postgraduate accounting education students enrolled in selected universities and institutions offering accounting education programmes in Nigeria. A multistage sampling technique will be used to select geopolitical zones, states, universities or institutions, faculties or departments, levels of study, and eligible accounting education students. IFRS S1 and S2 education will be assessed using indicators such as exposure to IFRS S1 and IFRS S2 instruction, frequency and duration of instruction, understanding of sustainability-related financial disclosures, climate-related disclosures, materiality, governance, strategy, risk and opportunity management, metrics and targets, sustainability-related risks and opportunities, climate-related risks and opportunities, scenario analysis, greenhouse-gas emissions information, value-chain considerations, connectivity between sustainability-related financial information and financial statements, and practical application of the standards. Sustainability reporting knowledge will be assessed using indicators such as understanding of sustainability reporting concepts, identification of material sustainability information, knowledge of disclosure requirements, recognition of climate-related financial risks and opportunities, understanding of governance and strategy disclosures, knowledge of risk-management disclosures, understanding of metrics and targets, interpretation of sustainability-related information, ability to distinguish IFRS S1 and IFRS S2 requirements, and ability to apply the standards to practical reporting scenarios. Data will be collected using structured questionnaires, standardized IFRS S1 and S2 knowledge tests, sustainability-reporting knowledge assessments, scenario-based questions, practical case studies, and pre-test and post-test assessments where a quasi-experimental intervention is adopted. Descriptive statistics will be used to summarize students' demographic and academic characteristics, previous exposure to sustainability reporting, awareness of IFRS S1 and S2, sources of sustainability information, and levels of reporting knowledge. Inferential statistical techniques, including chi-square tests, paired and independent t-tests, correlation analysis, and multiple regression analysis where appropriate, will be used to determine the effect of IFRS S1 and S2 education on sustainability reporting knowledge. Where a quasi-experimental design is adopted, sustainability reporting knowledge scores before and after the educational intervention may be compared with those of a comparison group to determine changes associated with the intervention. Diagnostic tests will also be conducted to assess the reliability, validity, and robustness of the findings. The study is expected to find that IFRS S1 and S2 education has a significant positive effect on sustainability reporting knowledge among accounting education students in Nigeria. Students exposed to structured, current, and practical instruction on IFRS S1 and IFRS S2 are expected to demonstrate greater knowledge of sustainability-related financial disclosures, climate-related disclosures, materiality, governance, strategy, risk management, metrics and targets, and climate-related risks and opportunities than students without comparable exposure. Practical case studies may help students understand how sustainability and climate-related information can be identified, assessed, and communicated within general-purpose financial reporting. Education may also improve students' ability to distinguish the requirements of IFRS S1 from those of IFRS S2 and apply relevant concepts to practical reporting scenarios. However, limited lecturer expertise, inadequate access to current sustainability standards and educational materials, curriculum gaps, limited practical exposure, insufficient digital resources, and the evolving nature of sustainability reporting requirements may constrain effective learning. The study therefore expects structured, current, practical, and professionally relevant IFRS S1 and S2 education to contribute significantly to improved sustainability reporting knowledge among accounting education students in Nigeria. The study is expected to contribute to the literature on IFRS S1 and S2 education, sustainability reporting, accounting education, sustainability accounting, climate-related financial disclosure, financial reporting, professional accounting education, and higher education in Nigeria. The findings will provide useful information to the National Universities Commission, universities, faculties of education and management sciences, accounting education departments, accounting educators, professional accounting bodies, financial reporting regulators, sustainability professionals, curriculum developers, employers, and policymakers regarding strategies for strengthening sustainability reporting knowledge among future accounting educators and professionals. The study will also provide evidence-based recommendations for integrating IFRS S1 and IFRS S2 into accounting education curricula, updating teaching materials, strengthening lecturers' professional development in sustainability reporting, incorporating practical sustainability-reporting case studies into accounting courses, improving access to current IFRS and ISSB resources, promoting university-industry collaboration, and preparing accounting education students for the evolving sustainability reporting requirements in Nigeria.

Keywords: IFRS S1, IFRS S2, sustainability reporting knowledge, accounting education students, sustainability reporting, climate-related disclosures, ISSB standards, accounting education, sustainability accounting, financial reporting, Nigerian universities, Nigeria.