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In July 2024, the International Accounting Standards Board (IASB) published the Exposure Draft Climate-related and Other Uncertainties in the Financial Statements. The Exposure Draft proposes eight examples illustrating how an entity applies the requirements in IFRS Accounting Standards to report the effects of climate-related and other uncertainties in its financial statements.

The Exposure Draft is open for comment until 28 November 2024.

IASB® Update April 2024

The IASB met on 22 April 2024 to discuss:

  • the project direction (Agenda Paper 14A); and
  • the due process steps it has taken to begin the process for balloting an exposure draft (Agenda Paper 14B).

Project direction (Agenda Paper 14A)

The IASB tentatively decided:

  1. to provide examples to illustrate how an entity applies IFRS Accounting Standards to report the effects of climate-related and other uncertainties in its financial statements;
  2. to include the examples as illustrative examples that would accompany IFRS Accounting Standards; and
  3. to publish an exposure draft to obtain feedback from stakeholders about the examples.

All 14 IASB members agreed with these decisions.

Due process and permission to begin the balloting process (Agenda Paper 14B)

The IASB set a 120-day comment period for the exposure draft.

All 14 IASB members agreed with this decision.

All 14 IASB members confirmed they were satisfied the IASB has complied with the applicable due process requirements and has undertaken sufficient consultation and analysis to begin the process for balloting the exposure draft.

No IASB member indicated an intention to dissent from the proposals in the exposure draft.

Next milestone

Exposure Draft Feedback