Last updated: 06 Oct 2023 11:00 Posted in: Sustainability
The International Accounting Standards Board (IASB) is to explore ways it can improve the reporting of climate-related and other uncertainties in financial statements.
It said that possible initiatives include development of educational materials, illustrative examples and targeted amendments to IFRS Accounting Standards to improve the application of existing requirements.
In a statement it said: “Given the pace of change in this area, the IASB will also continue to monitor developments to determine whether to take further action.
“In progressing this work, IASB technical staff will continue to work closely with ISSB technical staff to facilitate connections in the boards’ work.”
As part of this project – named Climate-related and Other Uncertainties in the Financial Statements – the IASB has brought together all its available material supporting companies in their reporting of the effects of climate-related and other uncertainties in the financial statements.
This material can be found on the project page, and will include translations of educational documents published earlier in the year as they become available.