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Taking climate-related matters into account in IFRS financial statements
In November 2020, the IFRS Foundation published educational material illustrating the circumstances under which the application of IFRSs might require entities to take account of climate issues.
Keywords: Mazars, Thailand, IFRS, Climate Risks, Insurance Contracts, Financial Statement Disclosures
In July the IFRS Foundation published an update to this document (available here), in particular in order to include an example relating to the new IFRS 17 on insurance contracts.
In parallel, the IASB will pursue its project to examine whether and how to provide better disclosures about climate risks in financial statements. The technical team is currently continuing to gather feedback from stakeholders, with the aim of presenting the evidence to the IASB by the end of the year to decide on the direction of the project.
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