External events – e.g. natural disasters, pandemics, geopolitical tensions or rapid changes in worldwide economic policies – may trigger uncertainty and cause market volatility, inflationary pressures, shifting customer demands and disrupted supply chains.
In times of heightened uncertainty, investors and regulators look for clarity in your annual report. They want to know how your company is affected, how you address the challenges, what judgements, estimates and assumptions you make, and how you have reflected it all in the financial statements. So you should expect more scrutiny.
To help you determine the financial reporting impacts, read our guide and use the articles in this hub.
Uncertain times digital hub
- Tariff refunds – Assessing the impact
- Uncertainty – Reflecting its impacts in financial reporting
- New import tariffs – Assessing the impact
- Onerous contracts – Assessing the impact
- Restructuring provisions – Assessing the impact
- Employee benefits – Assessing the impact
- Revenue – Assessing enforceability of customer contracts
- Revenue – Reviewing estimates
- Government grants – Determining timing and amount to recognise
- Government assistance – Evaluating nature and type
- Insurance proceeds – Assessing the impact
- Tax incentives – Determining which accounting standard to apply
- Lease assets – Assessing recoverability
- Lease assets – Impact of vacating or sub-letting office space
- Leases – Impact of renewal, termination or purchase options
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