Reporting Climate-related and Other Uncertainties in Financial Statements
Proposed illustrative examples to support disclosures
Stakeholder concerns about inconsistent application and insufficient disclosures of climate-related matters in financial statements has led the International Accounting Standards Board (IASB) to develop eight illustrative examples to demonstrate how entities should report the effects of climate-related and other uncertainties in their financial statements.
The illustrative examples highlight:
- Materiality judgements
- Assumption and other sources of estimation uncertainty
- Aggregation and disaggregation.
What’s your view?
We are keen to get your perspective on the proposed illustrative examples to inform our submission to the IASB. Specifically, we would like to understand, should these illustrative examples be introduced in New Zealand, whether they help improve disclosures in this area, and what the initial and ongoing cost implications might be on your business, such as system or process changes and staff training.
How to provide feedback
There are a number of ways you can provide your view:
- Fill in the form below
- Email the team at Accounting@xrb.govt.nz
- You can also send your comments directly to the IASB (by 28 November 2024), sending a copy of your submission to the XRB would be appreciated.
XRB Submissions close 25 October 2024
We intend on publishing all comments on the XRB website, unless they may be defamatory. If you have any objection to this, we will not publish them. However, they will remain subject to the Official Information Act 1982 and, therefore, may be released in part or in full. The Privacy Act 2020 also applies.