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. However, entities are encouraged to consider the examples when preparing financial statements for periods ending in December 2025 onwards.

The Issue under MFRS 7

The example relating to MFRS 7 Financial Instruments: Disclosures considers how entities should disclose risks arising from financial instruments, particularly credit risk affected by emerging uncertainties such as climate-related risks.

Many entities, especially banks and lending institutions, hold financial assets such as:

• Loans;

• Trade receivables; and

• Debt instruments.

These financial assets expose the entity to credit risk, which is the risk that a borrower or counterparty may fail to fulfil its contractual obligations.

The key question is:

Are entities providing sufficient information about how emerging risks affect their credit risk exposure and expected credit loss calculations?

The illustrative example explains that when these risks are material to users of the financial statements, entities should disclose how they affect:

• Credit risk management;

• Financial instrument exposures; and

• Expected Credit Loss (ECL) assessments.

Example: A Bank with Climate-Sensitive Loan Portfolios

Assume that a bank has two major loan portfolios.

1. Loans to Agricultural Businesses

Agricultural borrowers may be affected by:

• Drought;

• Extreme weather; and

• Climate variability.

These factors may reduce borrowers’ ability to generate income and repay their loans.

2. Loans Secured by Property in Flood-Prone Areas

Properties located in low-lying or flood-prone areas may be exposed to:

• Flooding;

• Damage to the underlying property; and

• Declining collateral values.

These risks may increase the probability of loan default.

As a result, the bank needs to consider the relevant factors when estimating Expected Credit Loss under MFRS 9 Financial Instruments.

Potential MFRS 7 Disclosures

The bank may need to explain:

• How climate-related risks affect its credit risk exposure;

• How those risks are incorporated into its ECL models;

• Whether management adjustments or overlays have been applied;

• Whether collateral securing the loans is exposed to those risks; and

• Whether risks are concentrated within particular portfolios, industries or geographic areas.

These disclosures help users understand how external uncertainties may affect the risk profile of the bank’s financial instruments and the measurement of expected credit losses.

Who May Be Affected?

1. Financial Institutions and Lenders

The entities most likely to be affected include:

• Banks;

• Financial institutions;

• Finance and leasing companies; and

• Companies with significant receivables or loan portfolios.

These entities should assess whether external risks have a material effect on their credit exposures. Where they do, additional disclosures may be necessary.

2. Financial Statement Preparers

Finance teams should ensure that their disclosures clearly explain:

• Credit risk management practices;

• Assumptions used in ECL models;

• Exposure to emerging risks; and

• Concentrations of risk within particular portfolios.

This may require closer cooperation between accounting, finance and risk management teams.

3. Auditors

Auditors are likely to pay greater attention to:

• How management incorporates relevant risk factors into ECL models;

• Whether climate-related and macroeconomic risks have been appropriately considered; and

• Whether the disclosures reflect the entity’s actual risk profile.

This may result in more detailed audit discussions concerning credit risk disclosures and the assumptions supporting ECL calculations.

4. Investors and Regulators

Investors rely on financial instrument disclosures to understand:

• The entity’s exposure to borrower default risk;

• How external uncertainties may affect loan portfolios; and

• How management is responding to those risks.

Regulators are also paying increasing attention to:

• Climate-related financial risks; and

• Systemic risks within lending portfolios.

Better disclosure supports greater transparency and strengthens confidence in financial reporting.

When Should Entities Consider the Guidance?

The illustrative examples do not amend MFRS 7 and therefore do not have a mandatory effective date.

However:

• MASB issued the guidance on 19 December 2025; and

• Entities are encouraged to consider it when preparing financial statements for periods ending in December 2025 onwards.

Companies should implement any necessary additional disclosures within a reasonable period, or “sufficient time”. This would typically mean within several months and generally not more than one year.

Key Lessons for Accountants and Auditors

1. Credit Risk Disclosures Should Reflect Real-World Risks

If external risks affect a borrower’s ability to repay, those risks should be explained when they are material to users.

2. Risk Management and Accounting Should Be Consistent

Credit risk management practices, ECL assumptions and financial statement disclosures should reflect the same underlying risk assessment.

3. Transparency Improves Financial Reporting

Users should be able to understand how emerging uncertainties affect financial instruments, loan portfolios and expected credit losses.

Credit risk disclosures should not describe only historical default information. Where emerging risks may affect repayment capacity or collateral values, the financial statements should explain how those risks have been considered.

MFRS 7：披露新型不确定性所带来的信用风险

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 7 所涉及的核心问题

与 **MFRS 7《金融工具：披露》**有关的示例，主要探讨企业应如何披露金融工具所产生的风险，尤其是受到气候相关风险等新型不确定性影响的信用风险。

许多企业，尤其是银行及放贷机构，持有以下金融资产：

• 贷款；

• 应收账款；以及

• 债务工具。

这些金融资产使企业面临信用风险（Credit Risk），也就是借款人或交易对手无法履行合同义务的风险。

核心问题是：

企业是否已经充分说明新型风险如何影响其信用风险敞口及预期信用损失的计算？

相关示例说明，当这些风险对财务报表使用者具有重要性时，企业应披露这些风险如何影响：

• 信用风险管理；

• 金融工具风险敞口；以及

• 预期信用损失（ECL）的评估。

例子：拥有气候敏感贷款组合的银行

假设一家银行拥有两个主要贷款组合。

1. 农业企业贷款

农业借款人可能受到以下因素影响：

• 干旱；

• 极端天气；以及

• 气候变化。

这些因素可能降低借款人的收入及偿还贷款的能力。

2. 以洪水风险地区房地产作抵押的贷款

位于低洼或容易发生洪水地区的房地产，可能面临：

• 水灾；

• 抵押物受损；以及

• 抵押品价值下降。

这些风险可能提高借款人违约的可能性。

因此，银行在根据 **MFRS 9《金融工具》估计预期信用损失（Expected Credit Loss）**时，需要考虑相关因素。

MFRS 7 可能要求的披露

银行可能需要说明：

• 气候相关风险如何影响其信用风险敞口；

• 这些风险如何纳入 ECL 模型；

• 是否采用管理层调整或管理层覆盖项（management overlay）；

• 为贷款提供抵押的资产是否面临相关风险；以及

• 风险是否集中在特定贷款组合、行业或地理区域。

这些披露有助于使用者了解外部不确定性如何影响银行金融工具的风险状况，以及预期信用损失的计量。

哪些企业可能受到影响？

1. 金融机构及放贷企业

最可能受到影响的企业包括：

• 银行；

• 金融机构；

• 融资及租赁公司；以及

• 持有大量应收账款或贷款组合的企业。

这些企业需要评估外部风险是否对其信用风险敞口产生重大影响。如果答案是肯定的，企业可能需要增加相关披露。

2. 财务报表编制人员

财务团队应确保披露清楚说明：

• 信用风险管理方法；

• ECL 模型所采用的假设；

• 企业面对的新型风险；以及

• 特定贷款组合中的风险集中度。

这可能需要会计、财务及风险管理团队之间进行更紧密的合作。

3. 审计师

审计师可能会更加关注：

• 管理层如何将相关风险因素纳入 ECL 模型；

• 是否适当考虑气候及宏观经济风险；以及

• 披露是否真实反映企业实际的风险状况。

未来审计中，信用风险披露及 ECL 计算所采用的假设，可能成为更详细讨论的重点。

4. 投资者及监管机构

投资者依赖金融工具披露，以了解：

• 企业面对借款人违约风险的程度；

• 外部不确定性如何影响贷款组合；以及

• 管理层如何应对这些风险。

监管机构也越来越关注：

• 气候相关金融风险；以及

• 放贷组合中的系统性风险。

更完善的披露能够提升透明度，并增强市场对财务报告的信心。

企业何时应考虑相关指引？

这些示例并没有修订 MFRS 7，因此没有强制性的生效日期。

不过：

• MASB 已于 2025 年 12 月 19 日发布相关指引；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。

企业应在合理的时间内，即在“足够时间”内，落实必要的额外披露。一般来说，这通常应在数个月内完成，且通常不应超过一年。

给会计人员及审计师的重点启示

1. 信用风险披露应反映现实风险

如果外部风险影响借款人的偿债能力，而相关信息对使用者具有重要性，企业就应当加以说明。

2. 风险管理与会计处理应保持一致

信用风险管理方法、ECL 模型假设及财务报表披露，应建立在一致的风险评估基础上。

3. 透明度能够提升财务报告质量

财务报表使用者应能够了解新型不确定性如何影响金融工具、贷款组合及预期信用损失。

信用风险披露不应只说明过往违约资料。如果新型风险可能影响借款人的偿债能力或抵押品价值，财务报表就应说明企业如何考虑这些风险。