IAS 1 Presentation of Financial Statements – Additional disclosure considerations for companies engaging in crypto-asset activities

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Dec 12, 2022

On December 12, 2022, the Accounting Standards Board (AcSB) released a resource to support the financial statement preparation process.

The recent failures of several companies involved in crypto-asset activities may signal a need for companies engaged in crypto-asset activities to reassess the adequacy of their financial statement disclosures. Preparers may not always consider the need to provide additional disclosures beyond the specific disclosure requirements in IFRS Accounting Standards. Additional disclosures are needed when the accounting and minimum disclosures required do not enable the users of financial statements to understand the impact of particular transactions, other events, and/or conditions on the company’s financial position and performance.

Review the publication on the AcSB's website.

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