Assessing Accountants’ Strategic Functions and ESG Implementationunder IFRS S1 and S2: A Comparative Study in Kazakhstan

Abstract

The introduction of IFRS S1 and IFRS S2 standards in 2024 has significantly transformed the scope and nature of professional accounting practice, shifting the focus from traditional recording functions to a strategic role in supporting organizational sustainable development. This study examines the impact of these standards on accountants’ activities using three leading Kazakhstani companies – Kazatomprom, Samruk-Energy, and QazaqGaz – as case examples, with particular attention to the integration of ESG indicators into corporate reporting. A comparative analysis was conducted to assess accountants’ readiness to implement sustainability reporting and the extent to which ESG data informs managerial decision-making. The findings indicate that the adoption of IFRS S1 and S2 expands accountants’ professional responsibilities, enhances corporate reporting transparency, and contributes to the long-term sustainability of organizations. Based on these results, practical recommendations are proposed to strengthen accountants’ professional competencies and optimize the use of ESG reporting in corporate practice.