The Briefing Summary has findings on the following:
- Nature and prevalence of concerns related to the reporting of climate-related risks in the financial statements – Although an improving trend in the reporting of climate risk in financial statements, there are still several areas of concern including the disconnect between the information inside and outside the financial statements.
- Causes of concerns –The concerns arise due to a perceived lack of full compliance with existing requirements of IFRS Accounting Standards including by some entities excluding material information. There are also limitations of existing IFRS Accounting requirements and the current IASB educational material. Other causes are challenges in the quantification of climate risk and the expectation gaps on the financial statements in part due to new types of users.
- Suggested IASB actions – Stakeholders have suggested the issuance of illustrative examples, application guidance on challenging reporting areas, enhancement of the IASB educational material and limited amendments to some IFRS Accounting Standards.
- Suggested scope of the IASB project – Mixed views have been expressed on the scope of the project with some stakeholders suggesting a climate-risk first approach while others support broadening the scope to encompass other long-term risks.
Read the Briefing Summary here.
Briefing summary löytyy myös Jäsenalueelta, ”Whitepaper” osiosta.