On 19 December 2025, the Malaysian Accounting Standards Board (MASB) issued a publication titled “Disclosures about Uncertainties in the Financial Statements”.

The publication contains six illustrative examples designed to help companies better understand how to disclose uncertainties in their financial statements. The examples are aligned with guidance issued by the International Accounting Standards Board (IASB) and demonstrate how existing IFRS and MFRS requirements can be applied in practice.

Although many of the examples focus on climate-related uncertainties, the principles are equally relevant to other uncertainties that may affect financial reporting.

Importantly, the examples do not introduce new accounting requirements or amend existing standards. Instead, they provide practical guidance to help entities apply existing disclosure requirements more clearly and consistently.

There is no formal effective date. However, entities are encouraged to consider the examples when preparing financial statements for periods ending in December 2025 and thereafter.

The Issue under MFRS 101

The guidance concerns how companies should disclose uncertainties in their financial statements, particularly when those uncertainties have not yet affected the reported figures.

Under paragraph 31 of MFRS 101 Presentation of Financial Statements, an entity must consider an important question:

Are the disclosures already provided sufficient for users to understand the entity’s financial position and financial performance?

If the answer is no, the entity must provide additional information, even if no specific accounting standard expressly requires that disclosure.

Why Has This Become Important?

In practice, companies may sometimes take the position that:

“There is no accounting impact this year, so no disclosure is needed.”

However, regulators and standard setters have highlighted that:

• Important risks may still exist;

• The future impact may be significant; and

• Users may be misled if the uncertainty is not explained.

Examples of matters that may require consideration include:

• Climate transition risks;

• Regulatory changes;

• Major business transformation plans;

• Supply chain disruptions;

• ESG commitments;

• Business restructuring plans; and

• Other significant strategic initiatives.

The illustrative examples were issued to clarify how MFRS 101 should be applied when such uncertainties exist.

The important point is that the examples do not change the accounting standards. They clarify how management should apply judgement when deciding whether additional disclosure is necessary.

Two Illustrative Scenarios

Scenario A: Disclosure Is Required

Assume that a manufacturing company has developed a ten-year climate transition plan to reduce its emissions.

At present:

• No impairment loss has been recognised;

• The reported accounting figures have not changed; and

• There is no immediate recognition impact.

However, the plan:

• Is strategically important;

• Is expected to affect the company’s future operations; and

• Is relevant to investors.

Under paragraph 31 of MFRS 101, management should ask:

Would users misunderstand the financial statements if the company did not explain this matter?

If the answer is yes, the company should provide additional disclosure explaining:

• The nature of the transition plan;

• Why it has not yet affected the financial statements; and

• How it may affect the business in the future.

Scenario B: Additional Disclosure Is Not Required

Assume that a small service company has minimal exposure to climate-related risks.

Its environmental policy does not affect:

• Future operations;

• The entity’s financial position; or

• Investors’ decisions.

In this situation, additional disclosure may not be necessary because the information is unlikely to influence users’ understanding or decisions.

The need for disclosure depends on materiality and the information needs of users, not merely on the existence of a policy or plan.

Who May Be Affected?

The guidance primarily affects financial statement disclosures rather than the underlying accounting figures.

1. Companies Preparing Financial Statements

Companies need to exercise greater care when deciding:

• What information is material;

• Which uncertainties need to be explained; and

• Whether additional narrative disclosure is necessary even when there is no current financial impact.

Some entities may need to:

• Provide more narrative explanations;

• Explain key assumptions; and

• Clarify the nature and extent of significant uncertainties.

2. Auditors

Auditors are likely to challenge management on whether important uncertainties have been properly disclosed.

Audit discussions may include:

• Consistency between sustainability reports and financial statements;

• Management’s materiality assessment; and

• The assumptions supporting management’s conclusions.

Entities should expect greater audit scrutiny of narrative disclosures and the consistency of financial and non-financial reporting.

3. Investors and Regulators

Investors rely on disclosures to understand:

• Future risks;

• Management’s strategies; and

• Potential financial effects.

Regulators are increasingly focusing on:

• Climate-related risk disclosures;

• Transparency in financial reporting; and

• Consistency between financial and non-financial information.

When Should Entities Consider the Examples?

Because the examples do not amend MFRS 101, they do not have a formal effective date.

However:

• MASB issued the examples on 19 December 2025; and

• Companies are encouraged to consider them when preparing financial statements for periods ending in December 2025 and thereafter.

Implementation should take place within a reasonable period, or “sufficient time”, based on the nature and complexity of the required changes. This may take several months and would generally not be expected to exceed one year.

Key Lessons for Accountants and Auditors

1. Disclosure Judgement Is Becoming More Important

Financial figures alone may not be sufficient. Management may also need to explain:

• The assumptions used;

• The uncertainties faced; and

• The potential future risks.

2. Financial and Non-Financial Reporting Should Be Consistent

If a company’s sustainability report describes climate-related risks as significant, but its financial statements contain no explanation, the inconsistency may raise questions.

The information presented across different reports should tell a coherent story.

3. “No Accounting Impact” Does Not Mean “No Disclosure”

Even when:

• Assets have not been impaired; and

• Liabilities have not changed,

the company may still need to explain why the matter has not affected the financial statements and whether it could affect the business in the future.

The absence of a current accounting impact does not automatically mean that there is nothing important to disclose.

MFRS 101：“没有会计影响”并不代表“无需披露”

2025 年 12 月 19 日，**马来西亚会计准则委员会（MASB）**发布了题为 **《财务报表中的不确定性披露》（Disclosures about Uncertainties in the Financial Statements）**的出版物。

该出版物包含六个示例，旨在帮助企业更好地理解应如何在财务报表中披露不确定性。这些示例与**国际会计准则理事会（IASB）**发布的指引保持一致，并展示现有 IFRS 及 MFRS 要求应如何在实践中应用。

虽然许多示例聚焦于气候相关不确定性，但其中所阐释的原则同样适用于其他可能影响财务报告的不确定性。

需要强调的是，这些示例并没有引入新的会计要求，也没有修订现有准则，而是提供实务指引，帮助企业更清晰及一致地应用现有披露要求。

这些示例没有正式的生效日期。不过，企业应考虑在编制 2025 年 12 月及之后结束的报告期间财务报表时参考相关内容。

MFRS 101 所涉及的核心问题

这项指引主要探讨企业应如何披露财务报表中的不确定性，尤其是在这些不确定性目前尚未影响已报告数字的情况下。

根据 MFRS 101《财务报表的列报》第 31 段，企业必须考虑一个重要问题：

现有披露是否已经足够让使用者理解企业的财务状况及财务表现？

如果答案是否定的，即使没有任何具体会计准则明确要求，企业仍必须提供额外资料。

为什么这个问题越来越重要？

在实务中，企业有时可能会认为：

“本年度没有会计影响，所以不需要披露。”

然而，监管机构及准则制定者指出：

• 重大风险可能已经存在；

• 未来影响可能相当显著；以及

• 如果企业没有解释，财务报表使用者可能会受到误导。

可能需要考虑的事项包括：

• 气候转型风险；

• 监管政策变化；

• 重大业务转型计划；

• 供应链中断；

• ESG 承诺；

• 业务重组计划；以及

• 其他重大战略举措。

发布这些说明性示例的目的，是进一步说明当企业面对这类不确定性时，应如何应用 MFRS 101。

需要注意的是，这些示例并没有改变会计准则本身，而是说明管理层在判断是否需要额外披露时，应如何运用专业判断。

两个说明性情景

情景 A：需要披露

假设一家制造企业制定了一项为期十年的气候转型计划，以减少排放。

目前：

• 企业没有确认资产减值损失；

• 财务报表中的会计数字没有发生变化；以及

• 目前没有立即的确认影响。

不过，该计划：

• 对企业战略具有重要性；

• 预计会影响企业未来经营；以及

• 与投资者的判断有关。

根据 MFRS 101 第 31 段，管理层应当问：

如果企业不解释这项事项，使用者是否可能误解财务报表？

如果答案是肯定的，企业就应提供额外披露，说明：

• 气候转型计划的性质；

• 为什么该计划目前尚未影响财务报表；以及

• 该计划未来可能如何影响企业。

情景 B：无需额外披露

假设一家小型服务企业所面对的气候相关风险非常有限。

其环境政策并不会影响：

• 未来经营活动；

• 企业的财务状况；或

• 投资者的决策。

在这种情况下，额外披露可能并无必要，因为相关资料不太可能影响使用者的理解或判断。

是否需要披露，应根据重要性及财务报表使用者的信息需求来决定，而不能仅仅因为企业存在一项政策或计划，就认为必须披露。

哪些企业及人士可能受到影响？

这项指引主要影响财务报表披露，而不是相关事项本身的会计数字。

1. 财务报表编制企业

企业在判断以下事项时，需要更加谨慎：

• 哪些资料具有重要性；

• 哪些不确定性需要解释；以及

• 即使目前没有财务影响，是否仍需提供额外叙述性披露。

部分企业可能需要：

• 增加更多叙述性说明；

• 解释关键假设；以及

• 说明重大不确定性的性质及程度。

2. 审计师

审计师可能会进一步质询管理层，了解重大不确定性是否已经获得适当披露。

审计讨论可能涉及：

• 可持续发展报告与财务报表之间是否一致；

• 管理层对重要性的判断；以及

• 支持管理层结论的相关假设。

企业应预期，叙述性披露以及财务与非财务报告之间的一致性，将面对更加严格的审计审查。

3. 投资者及监管机构

投资者依赖财务报表披露来了解：

• 未来风险；

• 管理层的应对策略；以及

• 潜在财务影响。

监管机构也越来越关注：

• 气候相关风险披露；

• 财务报告的透明度；以及

• 财务与非财务信息之间的一致性。

企业何时应考虑这些示例？

由于这些示例没有修订 MFRS 101，因此没有正式的生效日期。

不过：

• MASB 已于 2025 年 12 月 19 日发布相关示例；以及

• 企业应在编制 2025 年 12 月及之后结束的报告期间财务报表时考虑相关内容。

企业应根据所需变更的性质及复杂程度，在合理期间内，即“足够时间”内落实相关披露。整个过程可能需要数个月，通常不应超过一年。

给会计人员及审计师的重点启示

1. 披露判断变得更加重要

仅仅提供财务数字可能不足够。管理层可能还需要说明：

• 所采用的假设；

• 企业面对的不确定性；以及

• 未来可能产生的风险。

2. 财务与非财务报告应保持一致

如果企业的可持续发展报告强调气候相关风险十分重大，但财务报表完全没有作出解释，这种不一致可能引发质疑。

企业在不同报告中所提供的信息，应当能够呈现一致且连贯的整体情况。

3. “没有会计影响”不等于“无需披露”

即使：

• 资产没有发生减值；以及

• 负债没有发生变化，

企业仍可能需要说明为什么相关事项目前没有影响财务报表，以及未来是否可能影响企业。

目前没有会计影响，并不自动代表没有重要事项需要披露。