MFRS / Financial reporting
Clear thinking.
Considered reporting.
Turn emerging risks into focused financial reporting questions. Risk & Record helps finance teams navigate the judgements, estimates and disclosures that matter at year end.
For finance leaders, preparers & reporting teams
What to expect
Plain-language analysis
Judgement, not shortcuts
Financial & sustainability connectivity
The reporting agenda
Six issues.
One connected view.
A starting point for your 30 September 2026 year-end planning. Follow each issue from business exposure to accounting implications and disclosure.
These are review prompts, not predetermined accounting conclusions. Confirm current requirements and assess your entity’s specific facts.
Keep in view / MFRS 121
Where a currency lacks exchangeability, assess the measurement implications and relevant disclosures. Check the amendments’ applicability to your reporting period.
01Geopolitical exposureConnect market disruption to the numbers.
Consider energy and freight costs, supply-chain disruption, inflation and currency volatility. Review the implications for forecasts, asset valuations, liquidity and material risk disclosures.
02Tariffs & recovery claimsSeparate an expectation of recovery from recognition.
Assess the applicable recognition model and evidence supporting any tariff refund claim. Consider whether costs passed through to customers or suppliers create separate obligations or receivables. Verify current legal developments before reaching a conclusion.
03Non-financial asset impairmentChallenge the assumptions behind carrying values.
Review impairment indicators and cash-generating unit assessments. Test whether cash-flow forecasts, discount rates and sensitivities consistently reflect inflation, geopolitical exposure and climate-related risks.
04Climate & reporting connectivityMake the financial and sustainability narratives connect.
Compare climate-related assumptions across financial statements and sustainability reporting. Identify material effects on estimates and explain relevant differences in measurement bases rather than leaving readers to reconcile them.
05Private capital transactionsRead the terms before deciding the classification.
Assess contractual rights and obligations together, including redemption terms and settlement conditions. Consider debt-versus-equity classification, measurement and the effects of defaults or restrictions on redemptions.
06AI ecosystem transactionsAccount for the whole arrangement, not isolated pieces.
Evaluate linked acquisitions, investments and partnerships together. Map counterparties, commercial substance and relevant MFRS requirements, then identify significant judgements and estimates requiring disclosure.
From insight to action
Make uncertainty part of your review. Not an afterthought.
Use the six priorities to shape your next reporting discussion. Start with the exposures that could materially change your numbers or your narrative.
Start with the six priorities- 01Which exposures could affect recognition or measurement?
- 02What evidence supports our assumptions and judgements?
- 03Do our disclosures tell a consistent, material story?