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IASB releases near-final draft of climate-related illustrative examples
The IASB aims to help entities consider the need for additional disclosure of climate-related and other uncertainties in financial statements.
The final illustrative examples accompanying IFRS accounting standards will be issued in October 2025.
The near-final draft, Disclosures about Uncertainties in the Financial Statements Illustrated using Climate-related Examples, includes six examples, which when released in October will amend the illustrative examples of five IFRS accounting standards. The examples illustrate application of existing requirements; they do not change them. Rather the examples are intended to improve application of the existing requirements related to reporting the effects of climate-related risks and other uncertainties in the financial statements.
Regulators are expected to focus on such disclosures. Therefore, the early release of a near-final draft may give entities more time to consider whether changes are needed to the information disclosed in their financial statements as result of these illustrative examples.