statements understand the estimate made in the context of a significant risk resulting in a material If the company determines that matters are adjustment to the carrying amounts of assets and relevant to financial statement impact, they liabilities in the next financial year:37 will be subject to the scope of the financial audit. [...] For example, companies could the range of reasonably possible outcomes consider whether they have factored in additional in the next financial year with respect to the cost implications due to carbon pricing and carrying amounts of the assets and liabilities perform line-by-line analysis of the completeness affected; and of material climate impacts in the financial statements. [...] of the possible global warming paths targeted by the Paris Agreement as what they think is The role of the Board is to ensure that the best estimate of the actual outcome for management is making the appropriate the entity. [...] Has the company considered the playing a role in the phasing out of coal mines over potential impact of climate-related fines the next decade and driving the decarbonization and penalties on the provision? of electricity supply in the EU. [...] → It is probable that settling the obligation will require an outflow of resources embodying Management should explain in the accounts economic benefits; and how it has taken the climate transition into account in estimating the amount of the → The company can make a reliable estimate of provision and provide sensitivities for the the amount of the obligation.
- Pages
- 47
- Published in
- Switzerland
