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IFRS Foundation: Climate-related examples on reporting uncertainties in the financial statements
- 27 August 2025
- Accounting
- South African Accounting Academy
Summary:
The staff of the IFRS Foundation has published near-final examples in this draft document, demonstrating how companies can improve the reporting of uncertainties in their financial statements using climate-related examples as practical illustrations.
Article:
This early publication titled "Near-final staff draft—Disclosures about Uncertainties in the Financial Statements Illustrated using Climate-related Examples" is intended to support timely and informed application.
Although the examples use climate-related fact patterns, they provide guidance that applies broadly to all types of uncertainties. The examples demonstrate how companies can apply IFRS Accounting Standards to enhance disclosure of uncertainties in the financial statements.
The International Accounting Standards Board (IASB) developed these examples in response to stakeholder feedback about insufficient information about uncertainties, particularly climate-related uncertainties, and apparent inconsistencies in the information a company provides. The IASB worked with the International Sustainability Standards Board (ISSB) to ensure that these examples work well with the ISSB’s sustainability-related disclosure requirements.
Click here to download the 19-page draft document:
Relevance to Auditors, Independent Reviewers & Accountants:
- It is important to stay informed on publications issued by the regulators and standard-setters, e.g. IFAC, ISSB, etc.
- As an auditor, independent reviewer, accountant or practitioner, you ned to be aware of the latest guidance on sustainability issued by relevant regulators, such as the IFRS Foundation.
- This document provides guidance on how companies can improve the reporting of uncertainties in their financial statements using climate-related examples as practical illustrations.
Relevance to Your clients:
- It is important to stay informed on publications issued by the regulators and standard-setters, e.g. IFAC, IFRS Foundation, ISSB, etc.
- This document provides guidance on how companies can improve the reporting of uncertainties in their financial statements using climate-related examples as practical illustrations.