News and analysis

Reporting the effects of climate risk in financial statements: Part I

The IASB deviated from its usual due process earlier this year, when it published a "near-final draft" of illustrative examples that have been under development for the past two years. The examples are designed to show companies how existing requirements of IFRS Accounting Standards should be applied to climate risk and other uncertainties; examples one and two are covered in this article, the remaining examples will be covered in the next issue of WAR .