Topic 4.3 Practice answer

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Sustainability for Accountants S To takeholder analysis pic 4.3 Practice question Suggested solution Task 1: Identify the ESG issues Subterrain should prioritise in the short term Modern slavery Quality control Climate change Customer service Employee engagement and satisfaction Corporate governance Supply chain management and ethics Waste management Anti-corruption Employee training and development (However it can be argued that it may be appropriate to exclude this issue (employee training and development) if there are already many ESG issues to address, and employee training and development is a lower priority than the other issues.) Task 2: Identify the issues Subterrain should monitor and re-evaluate for relevance when it undertakes its next materiality assessment © 2023 Page 1 SFA_1 Employee training and development (could also be included in Task 1 response) R&D innovation Cybersecurity Regulation Chartered Accountants Australia and New Zealand ABN 50 084 642 571. All rights reserved. ) 81_4-3-3-3_PQ_Sol_v3-4

Task 3. How would you respond to the suggestion to not closely involve employees in the materiality analysis? During the stakeholder analysis, employees were identified as having high degrees of influence on Subterrain and high levels of interest in the business. The suggestion that they do not need to be closely involved with Subterrain’s materiality analysis does not align with these findings. As important stakeholders of the company employees should be managed carefully. Employees should be included in future stakeholder outreach and Subterrain should be encouraged to engage with as many employees as possible throughout the process, through interviews or surveys or by other means. Task 4: Based on the insights shared in the example report, what is your opinion of a reappraisal of that purpose for Subterrain today? The report highlights that Subterrain needs to address a wide range of ESG issues, which indicates that the way the company is currently operating needs to be reviewed and enhanced where possible. In addition, tensions in relation to affordability and quality, the two key pillars of Subterrain’s original philosophy, may be posing challenges for the business' ethical and sustainable operating practices. This suggests that a reappraisal could be appropriate, to determine whether Subterrain’s key stakeholders still view quality and affordability as being the most important pillars of the business today (and potentially more important than some ESG issues). © 2023 Chartered Accountants Australia and New Zealand ABN 50 084 642 571. All rights reserved. Page 2 SFA_181_4-3-3-3_PQ_Sol_v3-4 )

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