The Authority Expresses Its Views on the Development of Examples for Reporting on Climate Impacts and Other Uncertainty Factors in Financial Statements

الهيئة تبدي وجهة نظرها حول استحداث أمثلة للتقرير عن تأثيرات المناخ وعوامل عدم التأكد الأخرى في القوائم المالية

The Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by its Accounting Standards Board, commented on a draft published by the International Accounting Standards Board proposing examples for reporting on climate impacts and other uncertainty factors in financial statements. SOCPA considered the examples appropriate and proposed improvements, particularly regarding qualitative factors for determining materiality, to limit unnecessary disclosures relative to their cost given the time horizon of future assumptions.

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