Financial Statements, Enhancing the Reporting of Uncertainties in Financial Statements
Enhancing the Reporting of Uncertainties in Financial Statements – On 24 July 2025, the IASB released near-final illustrative examples aimed at improving the reporting of uncertainties in the financial statements. These examples guide companies on using IFRS standards to enhance their disclosures regarding uncertainties. Importantly, these illustrations do not change the existing IFRS requirements; instead, they provide insights for better reporting practices.
Key topics highlighted in these examples include:
- Materiality judgements
- Disclosure of assumptions – specific and general requirements
- Disclosure about credit risk
- Disclosure about decommissioning and restoration provisions
- Disclosure of disaggregated information.
The final version of these examples is expected to be released in October 2025. We look forward to the IASB’s upcoming publication. We encourage you to visit the IFRS Foundation website for further details.