• IFRS Foundation publishes educational material on considerations of climate-related matters when applying IFRS for SMEs Accounting Standard

IFRS Foundation publishes educational material on considerations of climate-related matters when applying IFRS for SMEs Accounting Standard

19 May 2023

The IFRS Foundation has published educational material to illustrate the requirement to consider climate-related matters that have a material effect on the financial statements when applying IFRS for SMEs Accounting Standard.

The material has been developed in response to feedback from some members of the SME Implementation Group and respondents to the 2022 Exposure Draft Third edition of the IFRS for SMEs Accounting Standard.

The material contains a non-exhaustive list of examples of when companies may need to consider climate-related matters in their financial statements and is aimed at supporting the consistent application of the IFRS for SMEs Accounting Standard.

The educational material may be accessed here.