Digital identity and Double materiality assessment: Difference between pages

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1.  ''Treasury - risk management - cyber security - individuals - banking - finance.''
''Financial reporting - risk management - ESG - sustainability reporting - European Sustainability Reporting Standards (ESRS).''


In the context of banking and financial transactions, a digital identity is a mechanism for an individual to prove their identity, without presenting physical documents.
In the context of sustainability reporting, a double materiality assessment is one that covers material information about both:


:(1) A reporting entity's impact on people or the environment ("impact materiality") and


:<span style="color:#4B0082">'''''Risks and opportunities of Central Bank Digital Currencies (CBDCs)'''''</span>
:(2) Financial risks or opportunities relating to a sustainability matter ("financial materiality").


:"Professor Bill Buchanan OBE presented on the risks and opportunities of CBDCs from a technology perspective.


:He addressed the role of AI, quantum, cybersecurity, and programmable payments.  
For reporting purposes, a matter is material if it falls into either of these categories.


:Members discussed how different forms of technology such as distributed ledger technology or digital identities may change the role of banking and finance."


:''UK CBDC Academic Advisory Group - March 2024.''
:<span style="color:#4B0082">'''''The European Sustainability Reporting Standards (ESRS) approach to materiality'''''</span>


:"The ESRS require that the sustainability statement include sustainability information related to material IROs identified through a materiality assessment process that applies the principles of double materiality...


2. ''Treasury - risk management - cyber threat - cyber security - individuals - banking - finance.''
:The terms ‘material’ and ‘materiality’ are used throughout the ESRS to refer to double materiality unless otherwise specified."


The totality of information about an individual's online activities, including the potential for criminals to impersonate the individual if the information is compromised.
:''EFRAG Implementation Guidance - Materiality Assessment - p9.''




==See also==
== See also ==
*[[Advanced Persistent Threat]]
* [[Double materiality]]
*[[Artificial intelligence]]  (AI)
* [[Environmental, social and governance]]  (ESG)
*[[Authentication]]
* [[European Financial Reporting Advisory Group]] (EFRAG)
*[[Central bank digital currency]]  (CBDC)
* [[European Sustainability Reporting Standards]]  (ESRS)
*[[Council to Secure the Digital Economy]]
* [[Financial materiality]]
*[[Credential compromise]]
* [[Financial reporting]]
*[[Cyber security]]
* [[Guidance]]
*[[Cyber security: protecting your business and your clients]]
* [[Immaterial]]
*[[Cyber threat]]
* [[Impact]]
* [[Cybercrime]]
* [[Impact materiality]]
*[[Cybercrime – A Threat And An Opportunity]]
* [[Material by nature]]
*[[Digital footprint]]
* [[Materiality]]
*[[Distributed ledger]]   
* [[Materiality assessment]]  (MA)
*[[Malware]]
* [[Risk]]
*[[Quantum]]
* [[Risk management]]
*[[Ransomware]]
* [[Sustainability]]
*[[Risk management]]
* [[Sustainability reporting]]
*[[Strong Customer Authentication]]
* [[Sustainability statement]]
*[[Treasury]]
*[[Two-factor authentication]]
*[[Whaling]]




==Other resource==
==Other resource==
*[https://edu.bankofengland.co.uk/minutes/2024/march/minutes-of-cbdc-academic-advisory-group-march-2024 Minutes of the UK Central Bank Digital Currency (CBDC) Academic Advisory Group - March 2024]
*[https://www.efrag.org/Assets/Download?assetUrl=/sites/webpublishing/SiteAssets/IG+1+Materiality+Assessment_final.pdf EFRAG Implementation Guidance - Materiality Assessment]


[[Category:Financial_products_and_markets]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Financial_risk_management]]

Latest revision as of 14:10, 3 August 2024

Financial reporting - risk management - ESG - sustainability reporting - European Sustainability Reporting Standards (ESRS).

In the context of sustainability reporting, a double materiality assessment is one that covers material information about both:

(1) A reporting entity's impact on people or the environment ("impact materiality") and
(2) Financial risks or opportunities relating to a sustainability matter ("financial materiality").


For reporting purposes, a matter is material if it falls into either of these categories.


The European Sustainability Reporting Standards (ESRS) approach to materiality
"The ESRS require that the sustainability statement include sustainability information related to material IROs identified through a materiality assessment process that applies the principles of double materiality...
The terms ‘material’ and ‘materiality’ are used throughout the ESRS to refer to double materiality unless otherwise specified."
EFRAG Implementation Guidance - Materiality Assessment - p9.


See also


Other resource

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