Welcome to the website of the IFRS Foundation and the IASB

Saturday 30 August 2014

Banner graphic

Presentation of Financial Statements: Disclosures about going concern


 Narrow-scope amendment to IAS 1 Presentation of Financial Statements

IAS 1 Presentation of Financial Statements: Disclosures requirements about assessment of going concern

IAS 1 Presentation of Financial Statements includes guidance on when financial statements should be prepared on a going concern basis. It also requires that when management are aware of material uncertainties about the entity’s ability to continue as a going concern, those uncertainties shall be disclosed. This project aims to make this guidance clearer about when these disclosures are required, and what information should be given when the disclosures are made.

Project stages

Deliberations

The IASB has decided not to proceed with this proposed amendment. The Interpretations Committee finalised an agenda decision at its July 2014 meeting to complete this process.