The International Accounting Standards Board (IASB) has issued seven hypothetical scenarios illustrating how companies can apply IFRS Accounting Standards when disclosing the effects of uncertainties in their financial statements.
While all seven examples use climate-related scenarios, the underlying principles can be applied to all uncertainties.
As the examples are not mandatory, and no changes have been made to the IFRS Accounting Standards, there is no effective date on the illustrative examples.
In June, the IASB voted to issue near-final drafts of the seven examples and to delete a proposed example of reporting on regulatory uncertainty. The board announced that the final examples only differ from the near-final drafts “in minor editorial details”.
Companies:IASB
