IFRS highlights main proposals for reporting climate-related uncertainties on a webcast
IASB technical staff Gustavo Olinda and Karen Robson recently presented a webcast on the Exposure Draft Climate-related and Other Uncertainties in the Financial Statements.
The session focused on how companies can improve the reporting of climate-related and other uncertainties within their financial statements, addressing the strong demand from investors for more transparent and consistent information on these topics.
The webcast provided a deep dive into the findings of the IASB’s research, which led to the development of eight illustrative examples. These examples demonstrate how entities can apply IFRS Accounting Standards to effectively report the financial effects of uncertainties. The goal is to improve transparency, particularly in areas such as materiality judgements, disclosures about assumptions, and disaggregation of information. The webcast also stressed the importance of aligning financial statements with sustainability disclosures to present a clearer, connected view of a company’s risks and financial health.
If you’re following this topic closely, don’t miss our earlier news on the Exposure Draft, which offers further insights and context. You can find it here. The deadline for submitting comments on the draft is 28 November 2024.
