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 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 also relevant to other uncertainties that may affect financial reporting.

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

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

The Issue under MFRS 18

The illustrative example considers whether an entity should disclose information about an uncertainty even when the matter does not yet affect the figures in its financial statements.

Under MFRS 18 Presentation and Disclosure in Financial Statements, financial statements must provide all material information necessary for users to understand the effects of transactions and events on the entity’s financial performance and financial position.

Paragraph 20 of MFRS 18 introduces an important principle:

Even if a specific accounting standard does not expressly require a disclosure, an entity must provide additional information if it is necessary for users to understand the financial statements.

Example: A Climate Transition Plan

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

The plan includes:

• Investment in energy-efficient technology;

• Changes to manufacturing methods; and

• The replacement of certain raw materials.

For the current reporting period, the company determines that the plan does not affect its assets, liabilities, income or expenses. For example:

• The useful lives of its assets remain unchanged;

• Existing inventory will be used before the planned changes take place;

• No impairment loss is required; and

• Decommissioning obligations are not affected.

Based on the specific requirements of existing accounting standards, the company may not have a mandatory disclosure requirement.

However, a further question remains:

Should the company disclose information about the transition plan in its financial statements?

Under MFRS 18, the answer may be yes if the information is material to users and necessary for them to understand the company’s future risks and strategy.

Comparing Two Scenarios

Scenario 1: A Manufacturing Company with Climate Transition Risks

A large manufacturing company plans to reduce its carbon emissions over the next ten years.

Although the plan has no immediate effect on the financial statement figures, it may be strategically significant and could affect the company’s future operations.

Investors may want to understand:

• Whether existing factories will need to be replaced;

• Whether certain assets may become obsolete; and

• Whether significant future investment will be required.

If the company does not explain why the transition plan has not yet affected the financial statements, users may misunderstand its current position and future plans.

Additional disclosure may therefore be necessary to explain:

• The nature of the transition plan;

• Why it has not affected the current-period figures; and

• How management expects it may affect the business in the future.

Scenario 2: A Service Company with Limited Climate Exposure

Another company operates in a low-emission service industry.

It has a general environmental policy, but:

• Its emissions are already low;

• The policy does not significantly affect its operations; and

• Its expected future impact is minimal.

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

The decision depends on materiality and the information needs of users, not merely on whether the entity has an environmental policy.

Disaggregation of Information

MFRS 18 also emphasises the importance of disaggregating information when items have different risk characteristics.

For example, a company may own two types of equipment:

• High-emission machinery; and

• Low-emission machinery.

Both may be classified as property, plant and equipment. However, they may face different climate-related risks.

Future regulations could:

• Reduce the value of high-emission assets; while

• Increase demand for low-emission technology.

In such circumstances, the company may need to present or disclose the assets separately in the notes rather than combining them into one total amount.

Disaggregation can help users understand the different risks and potential effects associated with each category of asset.

Who Is Affected?

1. Companies Preparing Financial Statements

Companies must take a broader view when preparing financial statements. They should consider:

• Whether there is important information that users need in order to understand the financial statements; and

• Whether additional disclosure is necessary even when no specific standard expressly requires it.

This may result in additional narrative explanations in the notes to the financial statements.

2. Financial Statement Preparers

Finance teams will need to exercise professional judgement when determining:

• Whether information is material;

• Whether qualitative factors are significant; and

• Whether additional disclosures would improve transparency.

This increases the importance of maintaining clear documentation for materiality assessments and disclosure decisions.

3. Auditors

Auditors are likely to pay closer attention to:

• Management’s materiality assessments;

• Consistency between the financial statements and sustainability or transition disclosures; and

• Whether important risks have been adequately explained.

This may lead to more audit discussions concerning narrative disclosures, even where the related risks have not yet affected the reported numbers.

4. Investors and Other Financial Statement Users

Investors may benefit from clearer information about:

• The company’s future strategic plans;

• Risks that have not yet been reflected in the financial statement figures; and

• The company’s long-term direction.

When Does MFRS 18 Apply?

MFRS 18 Presentation and Disclosure in Financial Statements is a new accounting standard that replaces MFRS 101 Presentation of Financial Statements.

The key timeline is:

• Effective date: 1 January 2027;

• Early adoption: Permitted.

However, the MASB illustrative examples issued in December 2025 are intended to encourage entities to improve their disclosures earlier, particularly for financial statements for periods ending in 2025 onwards.

Key Lessons for Accountants and Auditors

Three practical lessons can be drawn from the illustrative example:

1. Materiality Is Broader Than Numbers

Materiality is not limited to the size of an amount. Qualitative matters, such as business strategy, climate-related risks and regulatory changes, may also require disclosure.

2. Financial Statements Should Tell a Coherent Story

The information in the financial statements should be consistent with other corporate information, including sustainability reports and climate transition plans.

3. Professional Judgement Is Increasingly Important

Preparers and auditors must carefully assess what information users need in order to understand the business, its risks and its future direction.

A matter may be financially invisible today but still material to users if it could affect the company’s future strategy, risks or decisions.

MFRS 18：财务报表中如何披露数字以外的重要不确定性

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 要求应如何在实务中应用。

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

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 18 所涉及的核心问题

示例探讨了一个问题：即使某项不确定性目前还没有影响财务报表中的数字，企业是否仍然需要披露相关资料。

根据 MFRS 18《财务报表的列报与披露》，财务报表必须提供所有对使用者而言重要的资料，使他们能够了解交易及事项对企业财务表现与财务状况的影响。

MFRS 18 第 20 段提出了一项重要原则：

即使具体会计准则没有明确要求披露，如果额外资料是使用者理解财务报表所必需的，企业仍必须提供相关披露。

例子：气候转型计划

假设一家企业制定了一项为期十年的气候转型计划，以减少温室气体排放。

该计划包括：

• 投资节能技术；

• 改变生产方式；以及

• 更换部分原材料。

在本报告期间，企业判断该计划目前并没有影响其资产、负债、收入或费用。例如：

• 资产的使用年限没有改变；

• 现有存货将在计划中的变化发生前使用；

• 不需要确认减值损失；以及

• 拆卸义务没有受到影响。

根据现有会计准则的具体要求，企业可能没有强制披露义务。

不过，另一个问题仍然存在：

企业是否仍应在财务报表中披露这项转型计划？

根据 MFRS 18，如果相关资料对使用者具有重要性，并且是使用者了解企业未来风险及战略所必需的，答案可能是需要披露。

两种情景比较

情景一：面对气候转型风险的制造企业

一家大型制造企业计划在未来十年降低碳排放。

虽然该计划目前还没有影响财务报表中的数字，但它可能对企业战略具有重大意义，并可能影响未来经营。

投资者可能希望了解：

• 现有工厂是否需要被替换；

• 某些资产是否可能过时；以及

• 企业未来是否需要进行重大投资。

如果企业没有解释为什么转型计划目前还没有影响财务报表，使用者可能会误解企业目前的状况及未来计划。

因此，企业可能需要提供额外披露，说明：

• 气候转型计划的性质；

• 为什么该计划尚未影响本报告期间的数字；以及

• 管理层预计该计划未来可能如何影响企业。

情景二：气候影响有限的服务企业

另一家企业在低排放服务行业经营。

该公司虽然有一项一般性的环境政策，但：

• 企业排放量已经较低；

• 该政策没有对经营活动产生重大影响；以及

• 预计未来影响也很有限。

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决策。

最终判断应根据重要性及财务报表使用者的信息需求作出，而不能仅仅因为企业拥有环境政策，就认为一定需要披露。

信息拆分披露

MFRS 18 也强调，当不同项目具有不同风险特征时，企业应考虑将信息进一步拆分披露。

例如，一家公司可能拥有两类设备：

• 高排放机器；以及

• 低排放机器。

两者虽然都属于不动产、厂房及设备，但可能面对不同的气候相关风险。

未来法规可能：

• 降低高排放资产的价值；同时

• 增加市场对低排放技术的需求。

在这种情况下，企业可能需要在财务报表附注中分别列示或披露这两类资产，而不是将它们合并为一个总数。

拆分披露有助于使用者了解不同资产类别所面对的风险，以及可能产生的影响。

谁会受到影响？

1. 编制财务报表的企业

企业在编制财务报表时，需要采取更全面的角度进行考虑，包括：

• 是否存在使用者需要了解的重要信息；以及

• 即使具体准则没有明确要求，是否仍然需要提供额外披露。

这可能导致企业需要在财务报表附注中加入额外的叙述性解释。

2. 财务报表编制人员

财务团队在判断以下事项时，需要运用更强的专业判断：

• 相关信息是否具有重要性；

• 定性因素是否重要；以及

• 额外披露是否能够提升透明度。

因此，企业更需要保留清晰的文件记录，说明其重要性评估及披露决定的依据。

3. 审计师

审计师可能会更加关注：

• 管理层对重要性的判断；

• 财务报表与可持续发展或转型披露之间是否一致；以及

• 重大风险是否已经获得充分解释。

即使相关风险尚未影响财务报表中的数字，审计师也可能就叙述性披露展开更多讨论。

4. 投资者及其他财务报表使用者

投资者可以通过更清晰的披露了解：

• 企业未来的战略计划；

• 尚未反映在财务报表数字中的风险；以及

• 企业的长期发展方向。

MFRS 18 何时生效？

**MFRS 18《财务报表的列报与披露》**是一项新的会计准则，将取代 MFRS 101《财务报表的列报》。

主要时间表如下：

• **生效日期：**2027 年 1 月 1 日；

• **允许提前采用：**是。

不过，MASB 于 2025 年 12 月发布的示例，旨在鼓励企业更早改善披露，尤其是针对 2025 年及之后结束的报告期间的财务报表。

给会计人员及审计师的重点启示

这项示例带来三个实务启示：

1. 重要性不只是数字大小

重要性并不局限于金额大小。企业战略、气候相关风险及监管变化等定性事项，也可能需要披露。

2. 财务报表应讲述一致的故事

财务报表中的信息，应与企业其他报告保持一致，包括可持续发展报告及气候转型计划。

3. 专业判断变得更加重要

财务报表编制人员及审计师必须仔细评估，使用者需要哪些资料才能了解企业的业务、风险及未来发展方向。

一项事项今天可能还没有反映在财务数字中，但如果它可能影响企业未来的战略、风险或决策，对使用者而言仍然可能是重要信息。