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Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
(A) Company act requirements
1 Sect Has the entity prepared the Directors report as
159(1). required by Company Act Sect 159. 1 1 1 1 1 1
2 Sect 160 Has the entity’s directors’ report been approved by
(1). the board of directors and signed on behalf of the
board by a director of the company. 1 1 1 1 1 1
3 Sect 158(1) Has the entity's annual accounts been approved by
the board of directors and signed on behalf of the
board by a director of the company. 1 1 1 1 1 1
4 Sect 194(1) Section 194 sets the minimum age for appointment
of directors to be twenty one and maximum age for
retirement of directors to be seventy. age of the
Has directors' report disclosed the
directors of the entity and are the ages of all
directors not below twenty one or not above
seventy years?. 1 1 1 1 1 1
(B) Principles of Good Corporate Governance
for listed companies (Issued by CMSA)
5 Sect 3.1 Every listed companies is required to be headed by
an effective board to offer strategic guidance, lead
and control the company and be accountable to its
shareholders.
Does the annual report show that the entity has a
board of directors? 1 1 1 1 1 1
6 Sect 3.1.4 The board of directors is required to compose of a
balance of executive directors and non –executive
directors of diverse skills in order to ensure that no
individual or small group of individuals can
dominate the board’s decision making processes.
Is the board of directors composed of executive
directors and non -executive directors. 1 1 1 1 1 1
7 Sect 3.1.1 The Board is required to establish relevant board
committees and delegate specific mandates to such
committees as may be necessary. Does the entity
have an audit and nominating committee?. 1 1 1 1 1 1
8 Sect 3.1.1 Did the reporting entity disclose in its annual report
(ii) remuneration policies including incentives for the
board and senior management?. 1 1 1 1 1 1
9 Sect 3.4.3 As part of maintaining a sound system of internal
control to safeguard the shareholders investments
and assets, does the entity have an independent
internal auditor?. 1 1 1 1 1 1
(C) DISLOSUREs AS PER DIRECTORS’ REPORT (NBAA)
The nature, objectives and strategies of the
business
10 Para 14.1 In order to provide members with an understanding
of the industry in which the entity operates, it is
recommended that the directors’ reports include
description of the business.
Does the directors’ report include a description of
the business on its main products, services,
customers, business processes, structures of the
business and its economic model? 1 1 1 1 1 1
11 Para 14.2 As every entity is affected by its external
environment, does the directors’ report include
discussion on the external environment factors such
as entity’s major market, significant features of
legal and requlatory,and macro economic and social
environment that influence the business. 1 1 1 1 1 1
12 Para 16 Does the directors’ report disclose directors’
strategies for the entity’s stated objectives? 1 1 1 1 1 1
13 Para 17 Does the directors report indicate the key
performance indicators, both financial and non
financial which are used by the directors in
assessing the progress against the stated 1 1 1 1 1 1
objectives?. and future development and
Current
performance
Page 1 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
14 Para 19 Does the directors’ report describes the significant
features of the development and performance of the
business in the financial year covered by the
financial statements on the those business segments
that are relevant to understanding of the
development and performance as a whole? 1 1 1 1 1 1
15 Para 20 Does the directors’ report indicate the main trends
and factors that are likely to affect the future
development and performance of the business?
This should Include the development of the new
products and services, benefit expected from
capital investment, current level of investment
expenditure together with planned future
investment, assumptions underlying the main trends 1 1 1 1 1 1
and factors.
Resources
16 Para 21 The directors’ report must include a description of
the resources available to the entity i.e. corporate
reputation and brand strength; natural resources;
employees; research and development; intellectual
capital; licenses, patents, copyright and trademarks;
market position and Government
policies/regulations.report indicates the key
Does the directors’
strengths and resources, tangible and intangible
available to the business and can assist the business
in pursuit of its objectives and in particular those
items that are not reflected in the statement of 1 1 1 1 1 1
financial position?. uncertainties
Principal risks and
17 Para 22 The directors’ report is required to include a
description of the principal risks and uncertainties
facing the entity, together with a commentary on
the directors’ approach to them.
Does the directors’ report indicates the following
with regard to risks and uncertainties:-
18 Para 22.1 a. Strategic, commercial, operational and financial
risks which may significantly affect the entity’s
strategies and development of the entity’s value. 1 1 1 1 1 1
Para 22.3 b.The directors’ policy for managing principal risks 1 1 1 1 1 1
Relationships
19 Para 23 Director’ report should include information about
significant relationships with stakeholders other
than members, which are likely, directly or
indirectly, to influence the performance of the
business and its value.
Does the directors’ report disclose the following: -
Para 23 a. Relationships with customers, suppliers,
employees, contractors, lenders, creditors and
regulators 1 1 1 1 1 1
Para 24 b.Receipts from, and returns to, shareholders in
relation to shares held by them. This should include
a description of any distributions, capital raising
and share repurchase 1 1 1 1 1 1
Financial position
20 Para 25 Does the directors’ report contain an analysis of the
financial position of the entity on the following
Para 25.1 a. Comment on the events that have impacted the
financial position of the entity during the financial
year, and future factors that are likely to affect the
financial position going forward. The analysis
should supplement the disclosures required in
accounting standards, in particular those required
by IAS 32 ‘Financial Instruments: Presentation’ or
IFRS 7 ‘Financial Instruments: Disclosures’. 1 1 1 1 1 1
Para 25.2 b.Highlights on accounting policies set out in the
notes to the financial statements and discuss those
accounting policies that are critical to an
understanding of the performance and financial
position of the entity together with accounting
policies which have changed during the financial
year under review 1 1 1 1 1 1
Page 2 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
21 Para 25.3 Does the directors’’ report indicate the balance
between equity and debt, the maturity profile of
debt, type of capital instruments used, currency,
regulatory capital and interest rate structure. 1 1 1 1 1 1
Cash flows
22 Para 27 Does the directors’ report supplement the
information provided in the financial statements by,
for example, commenting on any special factors
that have influenced cash flows in the financial
year and those that may have a significant effect on
future cash flows including, for example, the
existence and timing of commitments for capital
expenditures and other known or probable cash 1 1 1 1 1 1
requirements?.
Liquidity
23 Para 28 Does the directors’ report contain discussion on
the entity’s current and prospective liquidity
including commentary on the level of borrowings,
the seasonality of borrowing requirements
(indicated by the peak level of borrowings during
that period) and the maturity profile of both
borrowings and undrawn committed borrowing 1 1 1 1 1 1
facilities?.
Membership of the Board of Directors
24 Para 33 Does the directors’ report state the names of all
persons who at any time during the accounting
period or at the time the financial statements were
adopted by the Board, functioned either as the
Chief Executive or as members of the Board of
together with their particulars of nationality and
position within the Board?. 1 1 1 1 1 1
25 Para 34 Does the directors’ report state Committees of the
Board together with names of members of those
committees?. 1 1 1 1 1 1
(D) IFRSs DISCLOSURES CHECKLIST
GENERAL
Identification and components of financial
statements
25 IAS 1.49 Have the financial statements been identified
clearly (using an unambiguous title) and
distinguished from other information in the same 1 1 1 1 1 1
26 IAS 1.810,I document.
Do the financial statements include, and identify
AS 1.51 clearly, the following components:
a. a Statement of Financial Position; 1 1 1 1 1 1
b. a Statement of Comprehensive Income; 1 1 1 1 1 1
c. a Statement of Changes in Equity showing
– all changes in equity; or 1 1 1 1 1 1
– changes in equity other than those arising from
capital transactions with equity holders acting in
their capacity as equity holders; 1 1 1 1 1 1
d. a Statement of cash flows; and 1 1 1 1 1 1
e. notes, comprising a summary of significant
accounting policies and other explanatory notes. 1 1 1 1 1 1
27 IAS 1.51 Is the following information displayed prominently
and repeated when it is necessary for a proper
understanding of the information presented:
a. the name of the reporting entity or other means
of identification, and any change in that
information from the preceding reporting period; 1 1 1 1 1 1
b. whether the financial statements cover the
individual entity or a group of entities; 1 1 1 1 1 1
c. the date of the end of the reporting period or the
period covered by the financial statements,
whichever is appropriate to the related component
of the financial statements; 1 1 1 1 1 1
d. the presentation currency; and 1 1 1 1 1 1
e. the level of rounding used in the presenting of
amounts in the financial statements. 1 1 1 1 1 1
Corporate information
28 IAS 1.138 Does the entity disclose the following information,
if not disclosed elsewhere in information published
with the financial statements:
Page 3 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
a. the domicile of the entity; 1 1 1 1 1 1
b. the legal form of the entity; 1 1 1 1 1 1
c. the entity’s country of incorporation; 1 1 1 1 1 1
d. the address of the registered office (or principal
place of business, if different from the registered
office); 1 1 1 1 1 1
e. a description of the nature of the entity’s
operations and its principal activities; 1 1 1 1 1 1
f. the name of the parent; and 1 1 1 1 1 1
g. the name of the ultimate parent of the group. 1 1 1 1 1 1
Compliance with International Financial
Reporting Standards
29 IAS 1.15, Does the entity provide additional disclosures when
IAS 1.17, the particular requirements in IFRS and
IAS 1.112 Interpretations of those Standards are insufficient to
enable users to understand the impact of particular
transactions, other events and conditions on the
entity’s financial position and financial 1 1 1 1 1 1
30 IAS 1.16 performance. disclose an explicit and unreserved
Does the entity
statement of compliance with IFRS in the notes. 1 1 1 1 1 1
IAS 1.14 Financial statements shall not be described as
complying with IFRS and Interpretations of those
Standards unless they comply with all the
requirements of IFRS.
IAS 21.55 When the entity presents its financial statements in
a currency that is different from its functional
currency, does it describe the financial statements
as complying with IFRS only if they comply with
all the requirements of each applicable Standard
and each applicable Interpretation of those
Standards including the translation method set out
in IAS 21.39 and 21.42. 1 1 1 1 1 1
31 IAS 1.19, In the extremely rare circumstances in which
IAS 1.20 management concludes that compliance with a
requirement in an International Financial Reporting
Standard or an Interpretation of a Standard would
be so misleading that it would conflict with the
objective of financial statements set out in the
Framework, and departs from that requirement
(where the relevant regulatory framework requires
or otherwise does not prohibit such a departure),
does the entity disclose the following information:
a. that management has concluded that the financial
statements present fairly the entity’s financial
position, financial performance and cash flows; 1 1 1 1 1 1
b. that it has complied with applicable IFRS and
Interpretations of those Standards, except that it has
departed from a requirement of a Standard or an
Interpretation to achieve a fair presentation; 1 1 1 1 1 1
c. the title of the Standard or Interpretation from
which the entity has departed; 1 1 1 1 1 1
d. the nature of the departure; 1 1 1 1 1 1
e. the treatment that the Standard or Interpretation
would require; 1 1 1 1 1 1
f. the reason why that treatment would be so
misleading in the circumstances that it would
conflict with the objective of financial statements
set out in the Framework; 1 1 1 1 1 1
g. the treatment adopted; and 1 1 1 1 1 1
h. for each period presented, the financial impact of
the departure on each item in the financial
statements that would have been reported in
complying with the requirement. 1 1 1 1 1 1
32 IAS 1.21, When an entity has departed from a requirement of
IAS 1.20 a Standard or an Interpretation in a prior period,
and the departure affects the amounts recognised in
the financial statements for the current period, does
the entity disclose:
a. the title of the Standard or Interpretation from
which the entity has departed; 1 1 1 1 1 1
Page 4 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
b. the nature of the departure; 1 1 1 1 1 1
c. the treatment that the Standard or Interpretation
would require; 1 1 1 1 1 1
d. the reason why that treatment would be so
misleading in the circumstances that it would
conflict with the objective of financial statements
set out in the Framework; 1 1 1 1 1 1
e. the treatment adopted; and 1 1 1 1 1 1
f. for each period presented, the financial impact of
the departure on each item in the financial
statements that would have been reported in
complying with the requirement. 1 1 1 1 1 1
33 IAS 1.23 In the extremely rare circumstances in which
management concludes that compliance with a
requirement in an International Financial Reporting
Standard or an Interpretation of a Standard would
be so misleading that it would conflict with the
objective of financial statements set out in the
Framework, but the relevant regulatory framework
prohibits departure from the requirement, does the
entity, to the maximum extent possible, reduce the
perceived misleading aspects of compliance by
disclosing:
a. the title of the Standard or Interpretation from
which the entity has departed. 1 1 1 1 1 1
b. the nature of the requirement; 1 1 1 1 1 1
c. the reason why management has concluded that
complying with that requirement is so misleading
in the circumstances that it conflicts with the
objective of financial statements set out in the 1 1 1 1 1 1
Framework; and presented, the adjustments to
d. for each period
each item in the financial statements that
management has concluded would be necessary to
achieve a fair presentation. 1 1 1 1 1 1
Audit teams will need to obtain approval from their
IFRS Area Desk before issuing an audit opinion on
financial statements that are based on accounting
policies that are not in accordance with IFRS. 1 1 1 1 1 1
Comparative information
34 IAS 1.38 Does the entity disclose comparative information in
respect of the previous period for all amounts
reported in the financial statements, unless an
International Financial Reporting Standard or
Interpretation of those standards permits or requires
otherwise. 1 1 1 1 1 1
35 IAS 1.38 Does the entity include comparative information for
narrative and descriptive information when it is
relevant to an understanding of the current period’s
financial statements. 1 1 1 1 1 1
36 IAS 1.41 When the presentation or classification of items in
the financial statements is amended and
comparative amounts are reclassified (unless the
reclassification cannot be applied after making
every reasonable effort to do so), does the entity
disclose the following information:
a. the nature of the reclassification; 1 1 1 1 1 1
b. the amount of each item or class of items that is
reclassified; and 1 1 1 1 1 1
c. the reason for the reclassification. 1 1 1 1 1 1
37 IAS 1.42 When reclassification of comparative amounts
cannot be applied after making every reasonable
effort to do so, does the entity disclose the
following information:
a. the reason for not reclassifying the amounts; and 1 1 1 1 1 1
b. the nature of the adjustments that would have
been made if the amounts were reclassified. 1 1 1 1 1 1
Consistency
38 IAS 1.45 Does the entity retain in the financial statements
from one period to the next:
a. the presentation of items; and 1 1 1 1 1 1
b. the classification of items. 1 1 1 1 1 1
Page 5 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
IAS 1.45 The presentation and classification of items in the
financial statements shall be retained from one
period to the next unless:
a. it is apparent, following a significant change in
the nature of the operations of the entity or a review
of its financial statement demonstrates that another
presentation or classification would be more
appropriate, refer to the criteria for the selection
application of accounting policies in IAS 8; or
b. a change in presentation is required by a
Standard or an Interpretation.
39 IAS 1.46 Does the entity reclassify its comparative
information in accordance with IAS 1.41 and IAS
1.42, when it changes the presentation of its 1 1 1 1 1 1
financial statements.
Reporting period
40 IAS 1.36 When an entity’s reporting period changes and the
annual financial statements are presented for a
period longer or shorter than one year, does the
entity disclose, in addition to the period covered by
the financial statements, the following information:
a. the reason for using longer or shorter periods; 1 1 1 1 1 1
b. the fact that comparative amounts for the Income
Statement, Statement of Changes in Equity, Cash
Flow Statement and related notes are not entirely
comparable. 1 1 1 1 1 1
Going concern
IAS 1.25, An entity shall not prepare its financial statements
IAS 10.14 on a going concern basis if management determines
after the balance sheet date either that it intends to
liquidate the entity or to cease trading, or that it has
no realistic alternative but to do so.
IAS 1.25 An entity shall prepare its financial statements,
except for cash flow information, using the accrual
basis of accounting.
41 IAS 1.25 When management is aware, in making its
assessment of an entity’s ability to continue as a
going concern, of material uncertainties related to
events or conditions that may cast significant doubt
upon the entity’s ability to continue as a going
concern, have those uncertainties been disclosed. 1 1 1 1 1 1
42 IAS 1.25 When the financial statements are not prepared on a
going concern basis, has the following information
been disclosed:
a. the fact that the financial statements are not
prepared on a going concern basis; 1 1 1 1 1 1
b. the basis on which the financial statements are
prepared; and 1 1 1 1 1 1
c. the reason why the entity is not regarded as a
going concern. 1 1 1 1 1 1
Date of authorisation
43 IAS 10.17 Does the entity disclose the following information:
a. the date when the financial statements were
authorised for issue; 1 1 1 1 1 1
b. who authorised the financial statements; and 1 1 1 1 1 1
c. if applicable, the fact that the entity’s owners or
others have the power to amend the financial
statements after issue. 1 1 1 1 1 1
FIRST-TIME ADOPTION
IFRS 1.47 Entities are required to apply IFRS 1 in their first
IFRS financial statements if these are for a period
beginning on or after 1 January 2004. Early
application of IFRS 1 is encouraged.
IFRS 1.Ap IFRS 1 defines the following terms:
pA
– Date of transition to IFRS – The beginning of the
earliest period for which an entity presents full
comparative information under IFRS in its first
IFRS financial statements;
Page 6 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
– Opening IFRS statement of financial position –
An entity’s statement of financial position at the
date of transition to IFRS;
– First IFRS financial statements – The first annual
financial statements in which an entity adopts IFRS
(IFRS), by an explicit and unreserved statement of
compliance with IFRS; and
– Previous standard – The basis of accounting that
a first-time adopter used immediately before
adopting IFRS.
Reconciliations
IFRS 1.42 IAS 8 does not deal with changes in accounting
policies that occur when an entity first adopts
IFRS. Therefore, the requirements in IAS 8 for
disclosures about changes in accounting policies do
not apply in an entity’s first IFRS financial
statements. requirements for entities that present
The IFRS 1
interim financial reports under IAS 34 for part of
the period covered by its first IFRS financial
statements are included in the section on Interim
Reporting, which contains all disclosure
requirements related to interim reporting. That
section does not need to be completed for annual
44 IFRS 1.38 financial statements. how the transition from
Does the entity explain
previous standard to IFRS affected its reported
financial position, financial performance and cash
flows. 1 1 1 1 1 1
IFRS 1.IG Implementation Guidance to IFRS 1 paragraph
63 IG63 provides an example of the level of detail
required in the reconciliations from previous
45 Do the entity’s first
IFRS 1.39, standard to IFRS. IFRS financial statements
IFRS 1.40 include:
a. reconciliations – that give sufficient detail to
enable users to understand the material adjustments
to the Balance Sheet – of its equity reported under
previous standard to its equity under IFRS for:
– the date of transition to IFRS; and 1 1 1 1 1 1
– the end of the latest period presented in the
entity’s most recent annual financial statements
under previous standard; 1 1 1 1 1 1
b. a reconciliation – that gives sufficient detail to
enable users to understand the material adjustments
to the Income Statement – of the profit or loss
reported under previous standard for the latest
period in the entity’s most recent annual financial
statements to its profit or loss under IFRS for the
same period; and 1 1 1 1 1 1
c. the disclosures in items 206. and 207. that would
have been required by IAS 36 if the entity had
recognised those impairment losses or reversals in
the period beginning with the date of transition to
IFRS. 1 1 1 1 1 1
46 IFRS 1.40 If the entity presented a cash flow statement under
its previous standard, does it explain the material
adjustments to the cash flow statement:
a. in the reconciliations of equity:
– any errors made under previous standard; and 1 1 1 1 1 1
– changes in accounting policies; 1 1 1 1 1 1
b. in the reconciliation of profit or loss:
– any errors made under previous standard; and 1 1 1 1 1 1
– changes in accounting policies. 1 1 1 1 1 1
47 IFRS 1.43 If an entity did not present financial statements for
previous periods, has that fact been disclosed. 1 1 1 1 1 1
Designation of financial assets or financial
liabilities
Page 7 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
48 IFRS 1.43 If an entity designates a previously recognised
A financial asset or financial liability as a financial
asset or financial liability at fair value through
profit or loss or as available for sale in accordance
with IFRS 1.25A, does the entity disclose the fair
value of any financial assets or financial liabilities
designated into each category and the classification
and carrying amount in the previous financial 1 1 1 1 1 1
statements. value as deemed cost
Use of fair
49 IFRS 1.44 If an entity uses fair value in its opening IFRS
Balance Sheet as deemed cost for an item of
property, plant and equipment, an investment
property or an intangible asset, does it disclose for
each line item in the opening IFRS Statement of
Financial Position:
a. the aggregate of those fair values; and 1 1 1 1 1 1
b. the aggregate adjustment to the carrying amounts
reported under previous standard. 1 1 1 1 1 1
Employee benefits
IFRS 1.20 If an entity is a first time adopter, the entity may
A disclose the amounts required by IAS 19.120A(p)
as the amounts are determined for each accounting
period prospectively from the transition date (IFRS
1.20A). (see item 133.)
50 Has the entity disclosed the following amounts of
defined benefit plans for each accounting period
from transition date:
a. the present value of the defined obligation, the
fair value of the plan assets and the surplus or
deficit in the plan; and 1 1 1 1 1 1
b. the experience adjustments arising on:
– the plan liabilities expressed either as (1) an
amount or (2) a percentage of the plan liabilities at
the balance sheet date; and 1 1 1 1 1 1
– the plan assets expressed either as (1) an amount
or (2) a percentage of the plan assets as the balance
sheet date. 1 1 1 1 1 1
Comparatives
51 IFRS 1.36 Does the entity present at least one year of
comparative information, which complies with 1 1 1 1 1 1
FINANCIAL REVIEW BY MANAGEMENT
IAS 1.114 Reports and Statements presented outside financial
statements are outside the scope of IFRS.
52 IAS 1.13 Does the entity present, outside the financial
statements, a financial review by management
which describes and explains the main features of
the entity’s financial performance and financial
position and the principal uncertainties it faces,
including: factors and influences determining
a. the main
performance, including:
– changes in the environment in which the entity
operates; 1 1 1 1 1 1
– the entity’s response to those changes and their
effect; and 1 1 1 1 1 1
– the entity’s policy for investment to maintain and
enhance financial performance, including its
dividend policy; 1 1 1 1 1 1
b. the entity’s sources of funding and its targeted
ratio of liability to equity; and 1 1 1 1 1 1
c. the entity’s resources not recognised in the
Balance Sheet in accordance with IFRS. 1 1 1 1 1 1
53 IAS 1.14 Does the entity present, outside the financial
statements, reports and statements such as
environmental reports and value added statements,
particularly in industries where environmental
factors are significant and when employees are
regarded as an important user group. 1 1 1 1 1 1
STATEMENT OF FINANCIAL POSITION
Page 8 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
54 IAS 1.29 Has each material class of similar items been
presented separately in the statement of financial
position. 1 1 1 1 1 1
55 IAS 1.32 Have assets and liabilities been presented separately
and not been offset (unless required or permitted by
another Standard or Interpretation). 1 1 1 1 1 1
IAS 12.71, Guidance on offsetting current and deferred tax
IAS 12.74, items is provided in IAS 12.71 and IAS 12.74,
IAS 32.42, respectively. Guidance on offsetting a financial
IAS 39.36 asset and a financial liability is provided in IAS
32.42 and IAS 39.36.
Current/non-current distinction
56 IAS 1.60 If the entity does not present separately current and
non-current assets, and current and non-current
liabilities on the face of its statement of financial
position, does it present all assets and liabilities
broadly in order of liquidity. 1 1 1 1 1 1
IAS 1.60 An entity shall present current and non-current
assets, and current and non-current liabilities, as
separate classifications on the face of its statement
of financial position except when a liquidity
presentation provides information that is reliable
and is more relevant.
57 If the entity presents separately current and non-
current assets, and current and non-current
liabilities on the face of its statement of financial
position, does the entity classify:
IAS 1.66 a. an asset as current when it:
– is expected to be realised in, or is intended for
sale or consumption in, the entity’s normal
operating cycle; 1 1 1 1 1 1
– is held primarily for the purpose of being traded; 1 1 1 1 1 1
– is expected to be realised within twelve months
after the balance sheet date; or 1 1 1 1 1 1
– is cash or a cash equivalent asset unless it is
restricted from being exchanged or used to settle a
liability for at least twelve months after the balance
sheet date. 1 1 1 1 1 1
IAS 1.69 b. a liability as current when it:
– is expected to be settled in the entity’s normal
operating cycle; 1 1 1 1 1 1
– is held primarily for the purpose of being traded; 1 1 1 1 1 1
– is due to be settled within twelve months after the
balance sheet date; or 1 1 1 1 1 1
– is not attached to an unconditional right to defer
settlement of the liability for at least twelve months
after the balance sheet date. 1 1 1 1 1 1
IAS 1.72 c. its financial liabilities as current, when they are
due to be settled within twelve months after the
balance sheet date, even if:
– the original term was for a period longer than
twelve months; and 1 1 1 1 1 1
– an agreement to refinance, or to reschedule
payments, on a long-term basis is completed after
the balance sheet date and before the financial
statements are authorised for issue. 1 1 1 1 1 1
IAS 1.73 However item (c) above is classified as non-current
if an entity expects, and has the discretion to
refinance or rollover an obligation for at least 12
months after balance sheet date under an existing
IAS 1.74 loan facility.
d. its long-term liability as current, where an entity
breaches an undertaking under a long term loan
agreement on or before the balance sheet date with
the effect that the liability becomes payable on
demand, even if the lender has agreed, after the
balance sheet date and before the authorisation of
the financial statements for issue, not to demand
payment as a consequence of the breach. 1 1 1 1 1 1
IAS 1.75 However item (d) above is classified as non-current
if:
Page 9 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
– the lender agreed by the end of reporting period
to provide a period of grace ending at least twelve
months after the balance sheet date, within which
the entity can rectify the breach; and 1 1 1 1 1 1
– during the grace period the lender cannot demand
immediate repayment. 1 1 1 1 1 1
58 IAS 1.61 Whichever method of presentation is adopted, does
the entity disclose, for each asset and liability line
item that combines amounts expected to be
recovered or settled within no more than twelve
months after the reporting period and more than
twelve months after the reporting period, the
amount expected to be recovered or settled after
more than twelve months. 1 1 1 1 1 1
59 IAS 1.56 When the entity makes a distinction between
current and non-current assets and liabilities in its
financial statements, has it presented deferred tax
assets and deferred tax liabilities as non-current 1 1 1 1 1 1
60 IAS 28.38 items.the entity classify investments in associates
Does
accounted for using the equity method as non-
current assets. 1 1 1 1 1 1
Information to be presented in the statement of
financial position
61 IAS 1.54 Have, as a minimum, the following line items been
included on the face of the statement of financial
statement to the extent that they are not presented in
accordance with IAS 1.54A noted below:
a. property, plant and equipment; 1 1 1 1 1 1
b. investment property; 1 1 1 1 1 1
c. intangible assets; 1 1 1 1 1 1
d. financial assets (excluding amounts shown under
(e), (h) and (i.); 1 1 1 1 1 1
IAS 28.38 e. investments accounted for using the equity 1 1 1 1 1 1
f. biological assets; 1 1 1 1 1 1
g. inventories; 1 1 1 1 1 1
h. trade and other receivables; 1 1 1 1 1 1
i. cash and cash equivalents; 1 1 1 1 1 1
j. trade and other payables; 1 1 1 1 1 1
k. provisions; 1 1 1 1 1 1
l. financial liabilities (excluding amounts shown
under (j) and (k.); 1 1 1 1 1 1
m. liabilities and assets for current tax; 1 1 1 1 1 1
n. deferred tax liabilities and deferred tax assets; 1 1 1 1 1 1
IAS 27.33 o. minority interest, presented within equity; and 1 1 1 1 1 1
p. issued capital and reserves attributable to equity
holders of the parent. 1 1 1 1 1 1
IAS 1.57 The descriptions used and the ordering of items or
aggregation of similar items may be amended
according to the nature of the entity and its
transactions, to provide information that is relevant
to an understanding of the entity’s financial
position. For example, a bank amends the above
descriptions to apply the more specific
requirements in IAS 32. If IFRS 7 is applied, a
financial institution amends the above descriptions
to provide information that is relevant to the
62 IAS 1.54A operations of the financial institution.
Have the following line items been included in the
statement of financial position:
IFRS 5.38 a. total assets classified as held for sale and assets
included in disposal groups classified as held for
sale in accordance with IFRS 5; and 1 1 1 1 1 1
b. liabilities included in disposal groups classified
as held for sale in accordance with IFRS 5. 1 1 1 1 1 1
63 IAS 1.55 Have additional line items, headings and subtotals
been presented in the statement of financial
position when such presentation is relevant to an
understanding of the entity’s financial position. 1 1 1 1 1 1
Information to be presented either on the face
of the Balance Sheet or in the notes
Page 10 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
64 IAS 1.74 Does the entity disclose further sub classifications
of the line items presented, classified in a manner
appropriate to the entity’s operations. 1 1 1 1 1 1
65 IFRS 5.38 Does the entity disclose separately the major classes
IFRS 5.39 of assets and liabilities classified as held for sale
either on the face of the Balance Sheet or in the
notes, except if the disposal group is a newly
acquired subsidiary that meets the criteria to be
classified as held for sale at acquisition. 1 1 1 1 1 1
STATEMENT OF COMPREHENSIVE
INCOME
66 IAS 1.29 Has each material class of similar items been
presented separately in the statement of
comprehensive income. 1 1 1 1 1 1
67 IAS 1.32 Have items of income and expenses been presented
separately and not been offset (items shall only be
offset when this is required or permitted by a
Standard). 1 1 1 1 1 1
IAS 1.34 Examples of items which are offset in the Income
Statement include the following:
IAS 1.35 a. gains and losses on the disposal of non-current
assets, including investments and operating assets,
are reported by deducting from the proceeds on
disposal the carrying amount of the asset and
related selling expenses;
b. expenditure related to a provision that is
recognised in accordance with IAS 37 and
reimbursed under a contractual arrangement with a
third party (for example, a supplier’s warranty
agreement) may be netted against the related
reimbursement; and
c. gains and losses arising from a group of similar
transactions are reported on a net basis, for
example foreign exchange gains and losses or gains
and losses arising on financial instruments held for
trading purposes.
68 IAS 1.88 Does the entity include all items of income and
expense in a period in the profit or loss (unless a
Standard or an Interpretation requires otherwise). 1 1 1 1 1 1
IAS 1.89 Examples of items which are excluded from the
profit and loss include:
IAS 1.89 a. the correction of errors and the effect of changes
in accounting policies (see IAS 8);
b. revaluation surpluses (see IAS 16 and IAS 38);
c. gains and losses arising on translating the
financial statements of a foreign operation (see IAS
d. gains and losses arising from the remeasuring of
available for sale financial assets (see IAS 39);
e. gains and losses on the hedging instrument that is
determined to be an effective cash flow hedge (see
IAS 39); and
f. actuarial gains and losses recognised outside of
profit or loss (see IAS 19).
Information to be presented in the statement of
comprehensive income
IAS 32.35 Interest, dividends, losses, and gains relating to a
financial instrument classified as a financial
liability, or a component, shall be recognised in
profit or loss as expense or income.
IAS 32.40 Dividends classified as an expense may be
presented in the Statement of comprehensive
income either with interest on other liabilities or as
a separate item. Disclosure of interest and
dividends is subject to the requirements of IAS 1
and IAS 30 (or IFRS 7, if applicable). In some
circumstances, because of significant differences
between interest and dividends with respect to
matters such as tax deductibility, it is desirable to
disclose them separately within the Income
Statement. Disclosures of the tax effects are made
in accordance with IAS 12.
Page 11 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
69 IAS 1.82 Have, as a minimum, the following line items been
included in the statement of Comprehensive
a. revenue; 1 1 1 1 1 1
b. finance costs; 1 1 1 1 1 1
IAS 28.38 c. share of after-tax profit or loss of associates and
joint ventures accounted for using the equity 1 1 1 1 1 1
IAS 12.77 d. tax expense; 1 1 1 1 1 1
IFRS 5.33 e. a single amount comprising the total of the post-
tax profit or loss of discontinued operations and the
post-tax gain or loss recognised on the
measurement to fair value less costs to sell or on the
disposal of the assets or disposal group(s)
constituting the discontinued operations; and 1 1 1 1 1 1
f. profit or loss. 1 1 1 1 1 1
70 IAS 1.83 Have, as a minimum, the following line items been
included oin the statement of comprehensive
income as allocations of profit or loss for the
IAS 27.28 period: or loss attributable to non-controlling
a. profit
interest; and 1 1 1 1 1 1
b. profit or loss attributable to owners of the parent. 1 1 1 1 1 1
71 IAS 1.83 Have additional line items, headings and subtotals
been presented on the face of the Income Statement
when such presentation is relevant to an
understanding of the entity’s financial performance. 1 1 1 1 1 1
IAS 1.87 No items of income and expense shall be presented
as extraordinary items, either in the statement of
comprehensive income or in the notes.
Information to be presented either in the
statement of comprehensive incomet or in the
notes
IAS 33.68 IAS 33.68 requires specific disclosures to be
presented either on the face of the Income
Statement or in the notes. This disclosure
requirement is included in the respective section
72 IAS 1.97 (see item 61.). income and expense are material
When items of
has the following information been disclosed
a. the amount; and 1 1 1 1 1 1
b. the nature of the item. 1 1 1 1 1 1
IAS 1.98 Circumstances that may give rise to the separate
disclosure of items of income and expense:
a. the write-down of inventories to net realisable
value or property, plant and equipment to
recoverable amount, as well as reversals of such
write-downs;
b. a restructuring of the activities of an entity and
reversals of any provisions for the costs of
restructuring;
c. disposals of items of property, plant and
equipment;
d. disposals of investments;
e. discontinued operations;
f. litigation settlements; and
g. other reversals of provisions.
73 IAS 1.99 Does the entity present an analysis of expenses
using a classification (whichever provides
information that is reliable and more relevant)
a. the on either:
IAS1.102 based nature of expenses; or 1 1 1 1 1 1
IAS 1.103 b. the function of expenses within the entity (in
which case the entity discloses as a minimum its
cost of sales). 1 1 1 1 1 1
74 IAS 1.100 Does the entity present the analysis of expenses, as
described above, in the statement of
comprehensive income. 1 1 1 1 1 1
75 IAS 1.104 If the entity classifies expenses by function, does it
disclose additional information on the nature of
expenses, including:
a. depreciation and amortisation expense; and 1 1 1 1 1 1
b. employee benefits expense. 1 1 1 1 1 1
Page 12 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
76 IFRS 5.33 Does the entity disclose, either on the face of the
Income Statement or in the notes, an analysis of the
amount totaling the post-tax profit or loss of
discontinued operations and the post-tax gain or
loss recognised on the measurement to fair value
less costs to sell or on the disposal of assets or
disposal group(s) constituting the discontinued
operation, by identifying the following components:
a. the revenue, expenses and pre-tax profit or loss
of discontinued operations; 1 1 1 1 1 1
b. the related income tax expense; 1 1 1 1 1 1
c. the gain or loss recognised on the measurement
to fair value less costs to sell or on the disposal of
the assets or disposal group(s) constituting the
discontinued operation; and 1 1 1 1 1 1
d. the related income tax expense. 1 1 1 1 1 1
EARNINGS PER SHARE
IAS 33.2 IAS 33 shall be applied by the entity if:
IAS 33.3 a. its ordinary shares or potential ordinary shares
are publicly traded; 1 1 1 1 1 1
b. it is in the process of issuing ordinary shares or
potential ordinary shares in public markets; or 1 1 1 1 1 1
c. it discloses earnings per share on a voluntary 1 1 1 1 1 1
77 IAS 33.3 If the entity discloses (voluntarily) earnings per
share, have the earnings per share been disclosed in
accordance with IAS 33:
a. for basic and diluted EPS, refer to items 56. to 1 1 1 1 1 1
b. for additional EPS amounts disclosed
voluntarily, refer to item 65. 1 1 1 1 1 1
78 IAS 33.4 Does an entity that presents both consolidated
financial statements and separate financial
statements prepared in accordance with IAS 27,
present the disclosures required by this Standard
only on the basis of the consolidated information. 1 1 1 1 1 1
79 IAS 33.4 Does an entity that chooses to disclose earnings per
share based on its separate financial statements
present such earnings per share information only on
the face of its separate statement of comprehensive
income and not in the consolidated financial
statements. 1 1 1 1 1 1
80 IAS 33.64 If the number of ordinary or potential ordinary
shares outstanding increases as a result of a
capitalisation, bonus issue or share split, or
decreases as a result of a reverse share split (even if
these changes occur after the reporting period but
before the financial statements are authorised for
issue), and therefore the calculation of basic and
diluted earnings per share for all periods presented
has been adjusted retrospectively, has the fact that
per share calculations reflect such changes in the
number of shares been disclosed. 1 1 1 1 1 1
81 IAS 33.66 Does the entity present, in the statement of
comprehensive income for each class of ordinary
shares that has a different right to share in profit for
the period, basic and diluted earnings per share for
the:
a. profit or loss from continuing operations; 1 1 1 1 1 1
b. profit or loss for the period; 1 1 1 1 1 1
IAS 33.67 If basic and diluted earnings per share are equal,
dual presentation can be accomplished in one line
on the Income Statement.
82 IAS 33.66 Does the entity present basic and diluted earnings
per share with equal prominence for all periods
presented. 1 1 1 1 1 1
83 IAS 33.68 If the entity reports a discontinuing operation, has
the basic and diluted earnings per share for this line
item been disclosed either on the face of the
Income Statement or in the notes to the financial 1 1 1 1 1 1
statements.
Page 13 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
84 IAS 33.69 Does the entity present basic and diluted earnings
per share, even if the amounts are negative (ie a
loss per share). 1 1 1 1 1 1
85 IAS 33.70 Does the entity disclose the following:
a. the amounts used as the numerators in
calculating basic and diluted earnings per share,
and a reconciliation of those amounts to profit or
loss for the period (the reconciliation shall include
the individual effect of each class of instruments
that affects earnings per share); 1 1 1 1 1 1
b. the weighted average number of ordinary shares
used as the denominator in calculating basic and
diluted earnings per share, and a reconciliation of
these denominators to each other (the reconciliation
shall include the individual effect of each class of
instruments that affects earnings per share); 1 1 1 1 1 1
c. instruments (including contingently issuable
shares) that could potentially dilute basic earnings
per share in the future, but were not included in the
calculation of diluted earnings per share because
they are anti-dilutive for the period(s) presented; 1 1 1 1 1 1
and description of ordinary share transactions or
d. a
potential ordinary share transactions, other than as
a result of a capitalisation, bonus issues or share
splits or decreases as a result of a reverse share
splits, that occur after the balance sheet date but
before the financial statements are authorised for
issue that would have changed significantly the
number of ordinary shares or potential ordinary
shares outstanding at the end of the period if those
transactions had occurred before the end of the
reporting period. 1 1 1 1 1 1
IAS 33.71 Examples of transactions referred to in IAS
33.70(d) include:
a. an issue of shares for cash; 1 1 1 1 1 1
b. an issue of shares when the proceeds are used to
repay debt or preference shares outstanding at
balance sheet date; 1 1 1 1 1 1
c. the redemption of ordinary shares outstanding; 1 1 1 1 1 1
d. the conversion or exercise of potential ordinary
shares outstanding at the balance sheet date into
ordinary shares; 1 1 1 1 1 1
e. an issue of options, warrants or convertible
instruments; and 1 1 1 1 1 1
f. the achievement of conditions that would result
in the issue of contingently issuable shares. 1 1 1 1 1 1
86 IAS 33.72 Does the entity disclose the terms and conditions of
financial instruments and other contracts generating
potential ordinary shares that affect the
measurement of basic and diluted earnings per
share, if this disclosure is not already otherwise
required (see IAS 32 and, if applicable, IFRS 7). 1 1 1 1 1 1
87 IAS 33.73 If the entity discloses, in addition to basic and
diluted earnings per share, amounts per share using
a reported component of the statement of
comprehensive income other than one required by
IAS 33:
a. have basic and diluted amounts per share relating
to such a component been disclosed with equal
prominence and presented in the notes to the
financial statements; and 1 1 1 1 1 1
b. has the basis been indicated on which the
numerator(s) is(are) determined, including whether
amounts per share are before tax or after tax. 1 1 1 1 1 1
Page 14 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
88 IAS 33.73 If the entity discloses, in addition to basic and
diluted earnings per share, amounts per share using
a component that is not reported as a line item in
the Statement of comprehensive income, has a
reconciliation been provided between the
component used and a line item that is reported in
the statement of comprehensive income. 1 1 1 1 1 1
STATEMENT OF CASH FLOWS
89 IAS 1.29 Has each material class of similar items been
presented separately in the statement of cash
flows. (Has the entity disclosed the effect of
exchange rate changes on cash and cash
equivalents held or due in a foreign currency is
reported in the statement of cash flows in order to
reconcile cash and cash equivalents at the
beginning and the end of the period. This amount is
presented separately from cash flows from
operating, investing and financing activities and
includes the differences, if any, had those cash
flows been reported at end of period exchange rates 1 1 1 1 1 1
- IAS 7.28.)
Presentation
90 IAS 7.10 Are the cash flows during the period classified by
operating, investing and financing activities 1 1 1 1 1 1
IAS 7.6, Definitions of different categories of cash flows are
IAS 7.14- presented in IAS 7.6 and examples are presented in
17 IAS 7.14-15, IAS 7.16 and IAS 7.17, respectively.
91 IAS 7.18 Does the entity report cash flows from operating
activities using either:
i. the direct method, whereby major classes of gross
cash receipts and gross cash payments are disclosed
(this method is encouraged); or 1 1 1 1 1 1
ii. the indirect method, whereby profit or loss is
adjusted for the effects of transactions of a non-
cash nature, any deferrals or accruals of past or
future operating cash receipts or payments, and
items of income or expense associated with
investing or financing cash flows. 1 1 1 1 1 1
92 IAS 7.21 Does the entity report major classes of gross
receipts and gross cash payments arising from
investing and financing activities separately. 1 1 1 1 1 1
All cash flows except as noted in item 72. must be
reported on a gross basis.
93 IAS 7.22 Are cash flows arising from the following
operating, investing or financing activities reported
on a net basis:
a. cash receipts and payments on behalf of
customers when the cash flows reflect the activities
of the customer rather than those of the entity; and 1 1 1 1 1 1
b. cash receipts and payments for items in which
the turnover is quick, the amounts are large, and the
maturities are short. 1 1 1 1 1 1
IAS 7.24 Cash flows arising from each of the following
activities of a financial institution may be reported
on a net basis:
a. cash receipts and payments for the acceptance
and repayment of deposits with a fixed maturity
b. the placement of deposits with and withdrawal
of deposits from other financial institutions; and
c. cash advances and loans made to customers and
the repayment of those advances and loans.
Components of cash and cash equivalents
IAS 7.8 Bank borrowings are generally considered to be
financing activities. However, in some countries,
bank overdrafts that are repayable on demand form
an integral part of the entity’s cash management.
In these circumstances, bank overdrafts are
included as a component of cash and cash
equivalents. A characteristic of such banking
arrangements is that the bank balance often
fluctuates from being positive to overdrawn.
Page 15 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
94 IAS 7.45 Does the entity disclose the components of cash
and cash equivalents. 1 1 1 1 1 1
95 IAS 7.46 Does the entity disclose the policy adopted in
determining the composition of cash and cash
equivalents. 1 1 1 1 1 1
96 IAS 7.45 Has a reconciliation of the amounts of cash and
cash equivalents in the cash flow statement with the
equivalent items in the statement of comrehensive
income been provided. 1 1 1 1 1 1
Acquisitions of subsidiaries and business units
97 IAS 7.39 Have the aggregate cash flows arising from
acquisitions of subsidiaries or other business units
been presented separately and classified as
investing activities in the cash flow statement. 1 1 1 1 1 1
98 IAS 7.40 Has the following information been disclosed, in
aggregate, for acquisitions of subsidiaries or other
business units during the period:
a. the total purchase consideration; 1 1 1 1 1 1
b. the portion of the purchase consideration
discharged by means of cash and cash equivalents; 1 1 1 1 1 1
c. the amount of cash and cash equivalents in the
subsidiary or business unit acquired; and 1 1 1 1 1 1
d. the amount of the assets and liabilities other than
cash or cash equivalents in the subsidiary or
business unit acquired, summarised by each major 1 1 1 1 1 1
category. of subsidiaries and business units
Disposals
99 IAS 7.39 Have the aggregate cash flows arising from
disposals of subsidiaries or other business units
been presented separately and classified as
investing activities in the statement of cash flows. 1 1 1 1 1 1
100 IAS 7.40 Has the following information been disclosed, in
aggregate, for disposals of subsidiaries or other
business units during the period:
a. the total disposal consideration; 1 1 1 1 1 1
b. the portion of the disposal consideration
discharged by means of cash and cash equivalents; 1 1 1 1 1 1
c. the amount of cash and cash equivalents in the
subsidiary or business unit disposed of; and 1 1 1 1 1 1
d. the amount of the assets and liabilities other than
cash or cash equivalents in the subsidiary or
business unit disposed of, summarised by each
major category. 1 1 1 1 1 1
Other cash flow information
101 Have the following cash flows been disclosed
separately:
IAS 7.31 a. cash inflow from interest; 1 1 1 1 1 1
IAS 7.31 b. cash outflow from interest; 1 1 1 1 1 1
IAS 7.31 c. cash inflow from dividends; 1 1 1 1 1 1
IAS 7.31 d. cash outflow from dividends; and 1 1 1 1 1 1
IAS 7.35 e. cash flows from taxes. 1 1 1 1 1 1
102 IAS 7.36 When tax cash flows are allocated over more than
one class of activity, has the total amount of taxes
paid been disclosed. 1 1 1 1 1 1
103 IAS 7.43 Are investing and financing transactions that do not
require the use of cash or cash equivalents:
a. excluded from the cash flow statement; and 1 1 1 1 1 1
b. disclosed elsewhere in the financial statements in
a way that provides all the relevant information
about these investing and financing activities. 1 1 1 1 1 1
104 IAS 7.48 Has the entity disclosed the following information
regarding significant cash and cash equivalent
balances held, that are not available for use by the
group:
a. the amount; and 1 1 1 1 1 1
b. a commentary by management. 1 1 1 1 1 1
105 IAS 7.50 Has the entity disclosed the following information:
a. the amount of undrawn borrowing facilities that
may be available for future operating activities and
to settle capital commitments, indicating any
restrictions on the use of these facilities. 1 1 1 1 1 1
Page 16 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
b. the aggregate amounts of the cash flows from
each of operating, investing and financing activities
related to interests in joint ventures reported using
proportionate consolidation; 1 1 1 1 1 1
c. the aggregate amount of cash flows that
represent increases in operating capacity separately
from those cash flows that are required to maintain
operating capacity; and 1 1 1 1 1 1
d. cash flows of each reported industry and
geographical segment arising from:
– operating activities; 1 1 1 1 1 1
– investing activities; and 1 1 1 1 1 1
– financing activities. 1 1 1 1 1 1
Disclosure requirements regarding business and
geographical segments are addressed in the section
on segment reporting.
IAS 1.96 An entity can choose to present a Statement of
changes in equity or a Statement of recognised
income and expense. However, if an entity chooses
the option to recognise actuarial gains and losses
outside the profit or loss shall, it shall present a
Statement of Recognised Income and Expense.
IAS The entity shall not present the actuarial gains and
19.93B losses in a Statement of Changes in Equity in the
columnar format referred to in IAS 1.101 or any
other format that includes the items specified in
IAS 1.97.
Items 84. to 91. include the presentation
requirements where an entity presents a Statement
of Changes in Equity.
IAS Item 92. sets out the presentation requirements
19.93A – where an entity presents a Statement of Recognised
93D Income and Expense. (These presentation
requirements are to be applied if an entity uses the
option in IAS 19.93A-93D - see IAS 19.159C).
STATEMENT OF CHANGES IN EQUITY
Content of the Statement of Changes in Equity
104 IAS 1.29 Has each material class of similar items been
presented separately in the Statement of Changes in
Equity. 1 1 1 1 1 1
105 IAS 1.96 Does the Statement of Changes in Equity show on
the face of the statement:
a. profit or loss for the period; 1 1 1 1 1 1
b. each item of income and expense that, as
required by other Standards, is recognised directly
in equity, and the total of these items; 1 1 1 1 1 1
c. total income and expense for the period (sum of
a. and b. above), showing separately the total
amounts attributable to equity holders of the parent
and to minority interests; and 1 1 1 1 1 1
d. for each component of equity, the effects of
changes in accounting policies and corrections of
errors recognised in accordance with IAS 8. 1 1 1 1 1 1
106 IAS 1.97 Is the following information presented either on the
face of the Statement of Changes in Equity or in
the notes:
a. the amounts of transactions with equity holders
acting in their capacity as equity holders, showing
separately distributions to equity holders; 1 1 1 1 1 1
b. the balance of retained earnings at the beginning
of the period and at the balance sheet date, and the
changes during the period; and 1 1 1 1 1 1
c. a reconciliation between the carrying amount of
each class of contributed equity and each reserve at
the beginning and the end of the period, separately
disclosing each change. 1 1 1 1 1 1
Page 17 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
IAS 32.35 Distributions to holders of a financial instrument
classified as an equity instrument shall be debited
by the issuer directly to equity net of any related
income tax benefit. Transaction costs (other than
costs of issuing an equity instrument that are
directly attributable to the acquisition of a business,
which shall be accounted for under IFRS 3) of an
equity transaction shall be accounted for as a
deduction from equity, net of any related income
107 IAS 1.107 tax benefit.
Does the entity disclose, either on the Statement
of Changes in Equity, or in the notes the
following information:
a. the amount of dividends recognised as
distributions to equity holders during the
period; and 1 1 1 1 1 1
b. the related amount per share. 1 1 1 1 1 1
IFRIC 1.6 Has the change in the revaluation surplus arising
from a change in the decommissioning, restoration
and similar liability been disclosed on the face of
the Statement of Changes in Equity.
108 IAS 28.39 Has the investor’s share of changes recognised
directly in the associate’s equity been disclosed on
the face of the Statement of Changes in Equity. 1 1 1 1 1 1
109 IFRS 5.38 Has the entity presented separately any cumulative
income or expense recognised directly in equity
relating to a non-current asset (or disposal group)
classified as held for sale on the face of the
Statement of Changes in Equity or in the notes. 1 1 1 1 1 1
110 IAS 32.39 Has the amount of transaction costs accounted for
as a deduction from equity in the period been
disclosed separately on the face of the statement. 1 1 1 1 1 1
111 IAS 32.39 Has the related amount of income taxes associated
with transaction costs accounted for as a deduction
from equity been included in the aggregate amount
of current and deferred tax credited or charged to
equity that is disclosed under IAS 12. 1 1 1 1 1 1
STATEMENT OF RECOGNISED INCOME
AND EXPENSE
112 IAS 19.93 Does the Statement of Recognised Income and
B, IAS Expenses comprise only the following items
1.96 specified in IAS 1.96:
a. profit or loss for the period; 1 1 1 1 1 1
b. each item of income and expense that, as
required by other Standards, is recognised directly
in equity, and the total of these items; 1 1 1 1 1 1
c. total income and expense for the period (sum of
a. and b. above), showing separately the total
amounts attributable to equity holders of the parent
and to minority interests; and 1 1 1 1 1 1
d. for each component of equity, the effects of
changes in accounting policies and corrections of
errors recognised in accordance with IAS 8. 1 1 1 1 1 1
NOTES TO THE FINANCIAL STATEMENTS
IAS 1.114 Notes are normally presented in the following
order, which assists users in understanding the
financial statements and comparing them with
financial statements of other entities:
a. a statement of compliance with IFRS (see IAS
1.16);
b. a summary of significant accounting policies
applied, (see IAS 1.117);
c. supporting information for items presented on
the face of each financial statement in the order in
which each statement and each line item is
presented; and
d. other disclosures, including:
– contingent liabilities and unrecognised
contractual commitments; and
– non-financial disclosures e.g. the entity’s
financial risk management objectives and policies
Page 18 of 86
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ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
113 IAS 1.112 Do the notes to the financial statements:
a. present information about the basis of
preparation of the financial statements; 1 1 1 1 1 1
b. present the specific accounting policies used; 1 1 1 1 1 1
c. disclose the information required by IFRS that is
not presented on the face of the Balance Sheet,
Income Statement, Statement of Changes in Equity
or the cash flow statement; and 1 1 1 1 1 1
d. provide additional information that is not
presented on the face of the Balance Sheet, Income
Statement, Statement of Changes in Equity or the
cash flow statement but is relevant to an
understanding of any of them. 1 1 1 1 1 1
114 IAS 1.113 Have the notes to the financial statements been
presented in a systematic manner, as far as
practicable 1 1 1 1 1 1
115 IAS 1.113 Has each item in the statement of financial
position, Statement of comprehensive income,
Statement of Changes in Equity and statement of
cash flows been cross-referenced to any related
information in the notes. 1 1 1 1 1 1
ACCOUNTING POLICIES, KEY
MEASUREMENT ASSUMPTIONS AND
CAPITAL
Summary of significant accounting policies
116 IAS 1.117 Does the entity disclose in the summary of
significant accounting policies the following
a. the measurement basis or bases (for example,
historical cost, current cost, net realisable value,
fair value or recoverable amount) used in preparing
the financial statements; and 1 1 1 1 1 1
b. the other accounting policies used that are
relevant to an understanding of the financial 1 1 1 1 1 1
IAS 1.118 When more than one measurement basis is used in
the financial statements, for example when
particular classes of assets are revalued, it is
sufficient to provide an indication of the categories
of assets and liabilities to which each measurement
117 IAS 1.121 basis is applied.disclose each significant accounting
Does the entity
policy that is not specifically required by IFRS, but
is selected and applied in accordance with IAS 8. 1 1 1 1 1 1
118 IAS 1.122 Does the entity disclose, in the summary of
significant accounting policies and/or other notes,
the judgements (apart from those involving
estimations) made by management in applying the
accounting policies that have the most significant
effect on the amounts recognised in the financial 1 1 1 1 1 1
IAS 1.124 statements. disclosures required by IAS 1.122 are
Some of the
required by other Standards. For example, IAS 27
requires an entity to disclose the reasons why the
entity’s ownership interest does not constitute
control, in respect of an investee that is not a
subsidiary although more than half of its voting or
potential voting power is owned directly or
indirectly through subsidiaries.
Disclosure requirements relating to specific
accounting policies are included in the subsequent
sections of this checklist.
Changes in accounting policies
IAS 8.14 An entity shall change an accounting policy only if
the change:
a. is required by a Standard or an Interpretation; or
b. results in the financial statements providing
reliable and more relevant information about the
effects of transactions, other events or conditions
on the entity’s financial position, financial
performance or cash flows.
IAS 34.43 Guidance for reporting a change in accounting
IAS 34.44 policy in interim financial reports is provided by
IAS 34.43 and 44.
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ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
IAS 8.17 Guidance for reporting a change in accounting
policy to revalue assets in accordance with IAS 16
or IAS 38 is to be dealt with as a revaluation in
accordance with IAS 16 or IAS 38, rather than in
accordance with IAS 8.
IAS 8.05 Applying a requirement is impracticable when the
entity cannot apply it after making every reasonable
effort to do so. It can apply in the following
circumstances:
a. when the effects of retrospective application or
retrospective restatement are not determinable;
b. where determining the effect of (a) above would
require assumptions about what management’s
intent would have been in that period; or
c. where determining the effect of (a) above would
require significant estimates of amounts and it is
impossible to distinguish objectively information
about those estimates that provides evidence of
circumstances that existed on the dates as to which
those amounts are to be recognised, measured or
disclosed and would have been available when the
previous financial statements were authorised for
issue.
119 IAS 8.19 Where a change in accounting policy results from
the initial application of a Standard or an
Interpretation, have the transitional provisions, if
any, in that Standard or Interpretation been applied. 1 1 1 1 1 1
120 IAS 8.19 Has a change in accounting policy been applied
retrospectively, where an entity changes an
accounting policy upon initial application of a
Standard or an Interpretation that does not include
specific transitional provisions applying to that
change, or changes an accounting policy 1 1 1 1 1 1
121 IAS 8.22 voluntarily.
When retrospective application is required (see IAS
8.19 above) has the entity adjusted the opening
balance of each affected component of equity for
the earliest prior period presented and the other
comparative amounts disclosed for each prior
period presented as if the new accounting policy
had always been applied. 1 1 1 1 1 1
122 IAS 8.23 When retrospective application is required (see IAS
8.19 above) has the entity applied the accounting
policy changes prospectively because it is
impractical to determine either:
a. period specific effects; or 1 1 1 1 1 1
b. the cumulative effect of the change. 1 1 1 1 1 1
123 IAS 8.24 Where it is impracticable to determine the period
specific effects of changing an accounting policy,
has the entity applied the new accounting policy to
the amount of assets and liabilities as at the
beginning of the earliest period for which
retrospective application is practicable. 1 1 1 1 1 1
124 IAS 8.25 Where it is impracticable to determine the
cumulative effect at the beginning of the current
period of applying a new accounting policy, has the
entity applied the new accounting policy
prospectively from the earliest date practicable. 1 1 1 1 1 1
125 IAS 8.28 When initial application of a Standard or
Interpretation has an effect on the current period or
any prior period presented, would have such an
effect except that it is impracticable to determine
the amount of the adjustment, or might have an
effect on future periods, does the entity disclose the
following information:
a. the title of the Standard or Interpretation; 1 1 1 1 1 1
b. when applicable, that the change in accounting
policy is made in accordance with its transitional
provisions; 1 1 1 1 1 1
c. the nature of the change in accounting policy; 1 1 1 1 1 1
Page 20 of 86
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EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
d. when applicable, a description of the transitional
provisions; 1 1 1 1 1 1
e. when applicable, the transitional provisions that
might have an effect on future periods; 1 1 1 1 1 1
f. for the current period and each prior period
presented, to the extent practicable, the amount of
the adjustment for each financial statement line
item affected and the basic and diluted earnings per
share (when IAS 33 applies to the entity); 1 1 1 1 1 1
g. the amount of the adjustment relating to periods
before those presented, to the extent practicable; 1 1 1 1 1 1
h. if retrospective application is impractical for a
particular prior period, or for periods before those
presented, the circumstances that led to the
existence of that condition and a description of how
and from when the change in accounting policy has
been applied. 1 1 1 1 1 1
IAS 8.28, Financial statements of subsequent periods need not
IAS 8.29 repeat the disclosures outlined above.
126 IAS 8.29 When a voluntary change in accounting policy has
an effect on the current period or any prior period,
would have an effect on that period except that it is
impracticable to determine the amount of the
adjustment, or might have an effect on future
periods, does the entity disclose the following
information: of the change in accounting policy;
a. the nature 1 1 1 1 1 1
b. the reasons why applying the new accounting
policy provides reliable and more relevant
information; 1 1 1 1 1 1
c. for the current period and each prior period
presented, to the extent practicable, the amount of
the adjustment for each financial statement line
item affected and the basic and diluted earnings per
share (when IAS 33 applies to the entity); 1 1 1 1 1 1
d. the amount of the adjustment relating to periods
before those presented, to the extent practicable; 1 1 1 1 1 1
e. if retrospective application is impractical for a
particular prior period, or for periods before those
presented, the circumstances that led to the
existence of that condition and a description of how
and from when the change in accounting policy has
been applied. 1 1 1 1 1 1
IAS 8.28, Financial statements of subsequent periods need not
IAS 8.29 repeat the disclosures outlined above.
127 IAS 8.30, When the entity has not applied a new Standard or
IAS 8.31 Interpretation that has been issued but is not yet
effective, has the entity disclosed:
a. the title of the new Standard or Interpretation; 1 1 1 1 1 1
b. the nature of the impending change or changes in
accounting policy; 1 1 1 1 1 1
c. the date by which application of the Standard or
Interpretation is required; 1 1 1 1 1 1
d. the date as at which it plans to adopt the
Standard or Interpretation; and 1 1 1 1 1 1
e. either:
– a discussion of the impact of the effect of the
change(s) on its financial statements; or 1 1 1 1 1 1
– if such an impact is not known or reasonably
estimable, a statement to that effect. 1 1 1 1 1 1
If a Standard or Interpretation is not applicable to
the entity, this fact should be disclosed. 1 1 1 1 1 1
Key estimation assumptions
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EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
128 IAS 1.125 Does the entity disclose in the summary of
significant accounting policies and/or other notes,
information regarding key assumptions about the
future, and other sources of key sources of
estimation uncertainty, that have a significant risk
of causing a material adjustment to the carrying
amounts of assets and liabilities within the next
financial year. In respect of those assets and
liabilities, the notes shall include details of:
a. their nature; and 1 1 1 1 1 1
b. their carrying amount as at the end of the
reporting period. 1 1 1 1 1 1
IAS 1.125 The disclosures under IAS 1.125 are presented in a
manner that helps users of financial statements to
understand the judgements management makes
about the future. The nature and extent of the
information provided varies according to the nature
of the assumption and other circumstances.
IAS 1.129 Examples of the types of disclosures made are:
a. the nature of the assumption or other
measurement uncertainty;
b. the sensitivity of carrying amounts to the
methods, assumptions and estimates underlying
their calculation, including the reasons for the
sensitivity;
c. the expected resolution of an uncertainty and the
range of reasonably possible outcomes within the
next financial year in respect of the carrying
amounts of the assets and liabilities affected; and
d. an explanation of changes made to past
assumptions concerning those assets and liabilities,
if the uncertainty remains unresolved.
Examples of key assumptions disclosed are:
a. future changes in salaries;
b. future changes in prices affecting other costs;
c. risk adjustments to cash flows; and
d. risk adjustments to discount rates.
IAS 1.133 Some key assumptions referred to in IAS 1.125
also require disclosures under other Standards. For
example, IAS 37 requires disclosure, in certain
circumstances, of major assumptions concerning
future events affecting classes of provisions.
IAS 16 requires disclosure of significant
assumptions in estimating fair values of revalued
items of property, plant and equipment. In
addition, IAS 32 (or IFRS 7, if applicable) requires
disclosure of significant assumptions applied in
estimating fair values of financial assets and
financial liabilities that are carried at fair value.
Capital
129 IAS 1.134 Does the entity disclose information that enables
users of its financial statements to evaluate the
entity’s objectives, policies and processes for
managing capital. 1 1 1 1 1 1
130 IAS 1.135 To comply with IAS 1.134, does the entity disclose
the following, based on the information provided
internally to the entity’s key management
personnel: information about its objectives,
a. Qualitative
policies and processes for managing capital,
including (but not limited to):
(i) a description of what it manages as capital; 1 1 1 1 1 1
(ii) when an entity is subject to externally imposed
capital requirements, the nature of those
requirements and how those requirements are
incorporated into the management of capital; and 1 1 1 1 1 1
(iii) how it is meeting its objectives for managing
capital 1 1 1 1 1 1
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EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
b. Summary quantitative data about what it
manages as capital. Some entities regard some
financial liabilities (eg some forms of subordinated
debt) as part of capital. Other entities regard capital
as excluding some components of equity (eg
components arising from cash flow hedges); 1 1 1 1 1 1
c. Any changes in (a) and (b) from the previous
period; 1 1 1 1 1 1
d. Whether during the period it complied with any
externally imposed capital requirements to which it
is subject; and 1 1 1 1 1 1
e. When the entity has not complied with the
externally imposed capital requirements to which it
is subject, the consequences of such non- 1 1 1 1 1 1
IAS 1.136 compliance. manage capital in a number of ways
An entity may
and be subject to a number of different capital
requirements. For example, a conglomerate may
include entities that undertake insurance activities
and banking activities, and those entities may also
operate in several jurisdictions. When an aggregate
disclosure of capital requirements and how capital
is managed would not provide useful information
or distorts a financial statement user’s
understanding of an entity’s capital resources, the
entity shall disclose separate information for each
capital requirement to which the entity is subject.
BUSINESS COMBINATIONS
Acquisitions
IAS 7.39, Disclosure requirements regarding cash flows from
IAS 7.40 acquisitions and disposals of subsidiaries or other
business units are addressed in the section on
statement of cash flows.
131 IFRS 3.66 Does the acquirer disclose information about
business combinations that were effected:
a. during the period; 1 1 1 1 1 1
b. after the balance sheet date but before the
financial statements were authorised for issue; and 1 1 1 1 1 1
IAS 1.38 c. during the comparative period (in summary 1 1 1 1 1 1
132 IFRS 3.67 Have the following disclosures been made in the
financial statements for each business combination
that was effected during the period:
a. the names and descriptions of the combining
entities or businesses; 1 1 1 1 1 1
b. the acquisition date; 1 1 1 1 1 1
c. the percentage of voting power acquired; 1 1 1 1 1 1
d. the cost of the combination; 1 1 1 1 1 1
e. a description of the component of that cost
including costs directly attributable to the
combination; 1 1 1 1 1 1
f. when equity instruments are issued or issuable as
part of the cost:
– the number of equity instruments issued or
issuable; and 1 1 1 1 1 1
– the fair value of those instruments and the basis
for determining that fair value; 1 1 1 1 1 1
g. details of any operation the entity has decided to
dispose of as a result of the combination; 1 1 1 1 1 1
h. the amounts recognised at acquisition date for
each class of the acquirees assets, liabilities and
contingent liabilities, and, unless disclosure would
be impracticable, the carrying amounts of each of
those classes, determined in accordance with IFRS,
immediately before the combination (if such
disclosure would be impracticable that fact shall be
disclosed together with an explanation of why this
is the case); 1 1 1 1 1 1
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EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
i. the amount of any excess recognised in the profit
or loss associated with an excess in the acquirer’s
interest in the net fair value of the acquirees
identifiable assets, liabilities and contingent
liabilities, over cost, and the line item in the Income
Statement in which the excess is recognised; 1 1 1 1 1 1
j. a description of the factors that contributed to a
cost that results in the recognition of goodwill 1 1 1 1 1 1
k. a description of each intangible asset that was
not recognised separately from goodwill and an
explanation of why the intangible asset’s fair value
could not be measured reliably or a description of
the nature of any excess recognised in the profit or
loss in i) above; and 1 1 1 1 1 1
l. the amount of the acquiree’s profit or loss since
the acquisition date included in the acquirer’s profit
or loss for the period, unless disclosures would be
impracticable (if such disclosure would be
impracticable that fact shall be disclosed together
with an explanation of why this is the case). 1 1 1 1 1 1
IFRS 3.68 Information to be disclosed in IFRS 3.67 above
shall be disclosed in aggregate for business
combinations effected during the reporting period
that are individually immaterial.
134 IFRS 3.69 For business combinations where the initial
accounting was determined only provisionally, does
the entity disclose:
a. that fact; and 1 1 1 1 1 1
b. an explanation of why this is the case. 1 1 1 1 1 1
135 IFRS 3.70 Have the following disclosures been made in
aggregate for all business combinations effected
during the period:
a. the revenue of the combined entity for the period
as though the acquisition dates had been the
beginning of that period; 1 1 1 1 1 1
b. the profit or loss of the combined entity for the
period as though the acquisition dates had been the
beginning of that period and 1 1 1 1 1 1
c. where the disclosure of the information required
in a. and b. above would be impracticable, has that
fact been disclosed, together with an explanation of
why this is the case. 1 1 1 1 1 1
Business combinations after balance sheet date
136 IFRS 3.71 For business combinations effected after the
balance sheet date, but before the financial
statements are authorised for issue, has the
following beenrequired by IFRS 3.67 noted above;
a. information disclosed:
and 1 1 1 1 1 1
b. if it is impracticable to disclose any of this
information, has this fact been disclosed together
with an explanation as to why this is the case. 1 1 1 1 1 1
Business combinations – adjustments
137 IFRS 3.72, Has the acquirer disclosed information to enable
IFRS 3.73 users of its financial statements to evaluate the
financial effects of gains, losses, error corrections
and other adjustments recognised in the current
period that relate to business combinations that
were effected in the current or in previous periods,
by disclosing the following information:
a. the amount and an explanation of any gain or
loss recognised in the current period that:
– relates to the identifiable assets acquired or
liabilities or contingent liabilities assumed in a
business combination that was effected in the
current or a previous period; and 1 1 1 1 1 1
– is of such size, nature or incidence that disclosure
is relevant to an understanding of the combined
entity’s financial performance; and 1 1 1 1 1 1
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ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
b. where the initial accounting for a business
combination that was effected in the immediately
preceding period was determined only provisionally
at the end of that period, the amounts and
explanations of the adjustments to the provisional
values recognised during the current period; and 1 1 1 1 1 1
c. the information about error corrections required
to be disclosed by IAS 8 for any of the acquiree’s
identifiable assets, liabilities or contingent
liabilities, or changes in values assigned to those
items that the acquirer recognises during the current
period in accordance with IFRS 3.63-64. 1 1 1 1 1 1
BORROWING COSTS
An entity shall apply IAS 23R for annual periods
beginning on or after 1 January 2009. Earlier
application is encouraged.
117 IAS If an entity applies IAS 23R for annual periods
23R.29 beginning before 1 January 2009, does it disclose
that fact. 1 1 1 1 1 1
This item only applies if an entity does not early
adopt IAS 23R. If, however, IAS 23R is early
adopted disclosure of the accounting policy applied
might still be required under IAS 1.108 b).
138 IAS 23.29 Has the entity disclosed the accounting policy for
the recognition of borrowing costs. 1 1 1 1 1 1
139 IAS 23.29, If the entity has capitalised borrowing costs does it
IAS23R.26 also disclose the following information:
a. the amount of borrowing costs capitalised during
the period; and 1 1 1 1 1 1
b. the capitalisation rate used to determine the
amount of borrowing costs eligible for 1 1 1 1 1 1
CHANGES IN ACCOUNTING ESTIMATES
140 IAS 8.39 Has the following information been disclosed for a
change in accounting estimates that has an effect in
the current period or is expected to have an effect
in future periods:
a. the nature of the change; and 1 1 1 1 1 1
b. the amount of the change; or 1 1 1 1 1 1
IAS 8.40 c. if applicable, the fact that the amount of the
effect in future periods is not disclosed because
estimating it requires undue cost or effort. 1 1 1 1 1 1
IAS 16.76 In accordance with IAS 8 an entity discloses the
nature and effect of a change in an accounting
estimate that has an effect in the current period or
is expected to have an effect in subsequent periods.
Such disclosure may arise from changes in
estimates with respect to:
IAS 38.121 – residual values;
– the estimated costs of dismantling, removing or
restoring items of property, plant and equipment;
– useful lives; and
– depreciation/amortisation methods.
CONSOLIDATED FINANCIAL
STATEMENTS
IAS 27.10 A parent need not present consolidated financial
statements to comply with IFRS if and only if:
a. it is a wholly-owned subsidiary or the owners of
the minority interests, including those not otherwise
entitled to vote, do not object to the parent not
presenting consolidated financial statements;
b. its securities are not publicly traded;
c. it is not in the process of issuing securities in
public securities markets; and
d. the immediate or ultimate parent publishes
consolidated financial statements that comply with
IFRS.
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ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
141 IAS 27.33 Has any non controlling interest in the net assets of
consolidated subsidiaries been presented in the
consolidated statement of financial position within
equity, separately from the parent shareholders’
equity. 1 1 1 1 1 1
142 IAS 27.33 Has any non controlling interest in the profit or
loss of the group been presented separately in the
consolidated statement of comprehensive income. 1 1 1 1 1 1
IAS 27.35 Losses applicable to the minority in a consolidated
subsidiary may exceed the minority interest in the
subsidiary’s equity. The excess, and any further
losses applicable to the minority, are charged
against the majority interest except to the extent
that the minority has a binding obligation and is
able to make an additional investment to cover the
losses. If the subsidiary subsequently reports
profits, such profits are allocated to the majority
interest until the minority’s share of losses
previously absorbed by the majority has been
143 IAS 27.41 recovered.
Have the following disclosures been made:
a. the nature of the relationship between the parent
and a subsidiary when the parent does not own,
directly or indirectly through subsidiaries, more
than half of the voting power; 1 1 1 1 1 1
b. for an investee of which more than half of the
voting or potential voting power is owned, directly
or indirectly through subsidiaries, but which,
because of the absence of control, is not a
subsidiary, the reasons why the ownership does not
constitute control; 1 1 1 1 1 1
c. the reporting date of the financial statements of a
subsidiary when such financial statements are used
to prepare consolidated financial statements and are
as of a reporting date or for a period that is
different from that of the parent, and the reason for
using a different reporting date or different period; 1 1 1 1 1 1
and nature and extent of any significant
d. the
restrictions on the ability of subsidiaries to transfer
funds to the parent in the form of cash dividends,
repayment of loans or advances (ie borrowing
arrangements or regulatory requirements). 1 1 1 1 1 1
Parent’s and investor’s separate financial
statements
144 IAS 27.42 Have the following disclosures, in the parent’s
separate financial statements that elects not to
present consolidated financial statements (in
accordance with IAS 27.10), been made:
a. the fact that the financial statements are separate
financial statements; 1 1 1 1 1 1
b. that the exemption from consolidation has been
used; 1 1 1 1 1 1
c. the name and country of incorporation or
residence of the entity whose consolidated financial
statements that comply with IFRS have been
produced for public use (and the address where
these are obtainable); 1 1 1 1 1 1
d. a list of significant investments in subsidiaries,
jointly controlled entities or associates, including
the name, country of incorporation or residence,
proportion of ownership interest and, if different,
proportion of voting power held; and 1 1 1 1 1 1
e. a description of the method used to account for
investments in subsidiaries, associates and jointly
controlled entities. 1 1 1 1 1 1
145 IAS 27.42 Have the following disclosures, in the parent’s
(other than a parent covered by IAS 27.41) or
venturer’s/investor's separate financial statements,
been made:
a. the fact that the financial statements are separate
financial statements; 1 1 1 1 1 1
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b. the reasons why those separate financial
statements are prepared if not required by law; 1 1 1 1 1 1
c. a list of significant investments in subsidiaries,
jointly controlled entities or associates, including
the name, country of incorporation or residence,
proportion of ownership interest and, if different,
proportion of voting power held; and 1 1 1 1 1 1
d. a description of the method used to account for
investments in subsidiaries, associates and jointly
controlled entities. 1 1 1 1 1 1
e. identification of the consolidated financial
statements of the parent. 1 1 1 1 1 1
DIVIDENDS PAID AND PROPOSED
146 IAS 1.137 Does the entity disclose in the notes the following
information:
a. the amount of dividends proposed or declared
before the financial statements were authorised for
issue but not recognised as a distribution to owners
during the period; 1 1 1 1 1 1
b. the related amount per share; and 1 1 1 1 1 1
c. the amount of any cumulative preference
dividends not recognised. 1 1 1 1 1 1
EMPLOYEE BENEFITS
IFRIC 14 IAS 19—The Limit on a Defined
Benefit Asset, Minimum Funding Requirements
and their Interaction
Items 127 & 128 set out disclosure requirements
that have to be applied if an entity early adopts
IFRIC 14.
147 If an entity early adopts IFRIC 14 for a period
beginning before 1 January 2008, does it disclose
that fact. 1 1 1 1 1 1
An entity shall apply IFRIC 14 for annual periods
beginning on or after 1 January 2008. Earlier
application is permitted.
148 Does the entity disclose any restrictions on the
current realisability of the surplus (from a defined
benefit plan) or the basis used to determine the
amount of the economic benefit available. 1 1 1 1 1 1
IFRIC In accordance with IAS 1, the entity shall disclose
14.10, IAS information about the key sources of estimation
1.116 uncertainty at the balance sheet date that have a
significant risk of causing a material adjustment to
the carrying amount of the net balance sheet asset
or liability.
Short-term employee benefits
IAS 19.23 Although IAS 19 does not require specific
IAS 1.104 disclosures about short-term employee benefits,
other IFRS may require disclosures. IAS 1 requires
that the entity should disclose staff costs.
Multi-employer plans
IAS 19.29 If a multi-employer plan is a defined benefit plan
and the entity has sufficient information available
to account for the plan as a defined benefit plan
then the disclosures for defined benefit plans
should be made accordingly.
149 IAS 19.30 When sufficient information is not available to use
defined benefit accounting for a multi-employer
plan that is a defined benefit plan, does the entity
disclose: that the plan is a defined benefit plan;
a. the fact 1 1 1 1 1 1
b. the reason why sufficient information is not
available to enable the entity to account for the plan
as a defined benefit plan; and 1 1 1 1 1 1
c. to the extent that a surplus or deficit in the plan
may affect the amount of future contributions,
disclose in addition:
– any available information about that surplus or
deficit; 1 1 1 1 1 1
– the basis used to determine that surplus or deficit;
and 1 1 1 1 1 1
Page 27 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
– the implications, if any, for the entity. 1 1 1 1 1 1
Defined benefit plans that share risks between
various entities under common control
IAS 19.34, Defined Benefit Plans that share risks between
IAS 19.34 various entities under common control, for
A example, a parent and its subsidiaries, are not multi-
employer plans. Participation in such a plan is a
related party transaction for each individual group
entity. The disclosure requirements listed below
only relate to an entity’s separate or individual
150 IAS 19.34 financial statements.
When an entity participates in a defined benefit
B plan that shares risks between various entities under
common control, does the entity make the
following disclosure in its separate or individual
financial statements:
a. the contractual agreement or stated policy for
charging the net defined benefit cost or the fact that
there is no such policy. 1 1 1 1 1 1
b. the policy for determining the contribution to be
paid by the entity. 1 1 1 1 1 1
c. if the entity accounts for an allocation of the net
defined benefit cost in accordance with IAS
19.34A, all the information about the plan as a
whole in accordance with IAS 19.120-121 (see 1 1 1 1 1 1
item the entity accounts for the contribution payable
d. if 133.).
for the period in accordance with IAS 19.34A, the
information about the plan as a whole required in
accordance with IAS 39.120A(b)-(e), (j), (n), (o),
(q) and 121 (see item 133.). 1 1 1 1 1 1
IAS 24.20 e. participation by a parent or subsidiary in a
defined benefit plan that shares risks between
group entities as is a transaction between related
parties (see IAS 19.34B). 1 1 1 1 1 1
The other disclosures required by IAS 19.120A do
not apply (see item 133.).
Defined contribution plans
151 IAS 19.46 Does the entity disclose the amount recognised as
an expense for defined contribution plans. 1 1 1 1 1 1
152 IAS 19.47 Does the entity disclose contributions to defined
contribution plans for key management personnel
when required by IAS 24. 1 1 1 1 1 1
Defined benefit plans
IAS 19.122 When the entity has more than one defined benefit
plan, disclosures may be made in total, separately
for each plan, or in such groupings as are
considered to be the most useful.
153 IAS 19.120 Does the entity disclose the following information
, that enables users of financial statements to
IAS 19.120 evaluate the nature of its defined benefit plans and
A, the financial effects of changes in those plans
IAS 19.121 during the period:
a. the entity’s accounting policy for recognising
actuarial gains and losses; 1 1 1 1 1 1
b. a general description of the type of plan
including informal practices that give rise to
constructive obligations included in the
measurement of the defined benefit obligation in
accordance with IAS 19.52; 1 1 1 1 1 1
c. a reconciliation of opening and closing balances
of the present value of the defined benefit
obligation showing separately, if applicable, the
effects during the period attributable to each of the
– current service cost;
following: 1 1 1 1 1 1
– interest cost; 1 1 1 1 1 1
– contributions by plan participants; 1 1 1 1 1 1
– actuarial gains and losses; 1 1 1 1 1 1
– foreign currency exchange rate changes on plans
measured in a currency different from the entity’s
presentation currency; 1 1 1 1 1 1
– benefits paid; 1 1 1 1 1 1
Page 28 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
– past service cost; 1 1 1 1 1 1
– business combinations; 1 1 1 1 1 1
– curtailments; and 1 1 1 1 1 1
– settlements. 1 1 1 1 1 1
d. an analysis of the defined benefit obligation into
amounts arising from plans that are wholly
unfunded and amounts arising from plans that are
wholly or partly funded. 1 1 1 1 1 1
e. a reconciliation of the opening and closing
balances of the fair value of plan assets and of the
opening and closing balances of any reimbursement
right recognised as an asset in accordance with IAS
19.104A showing separately, if applicable, the
effects during the period attributable to each of the
following:
– expected return on plan assets; 1 1 1 1 1 1
– actuarial gains and losses; 1 1 1 1 1 1
– foreign currency exchange rate changes on plans
measured in a currency different from the entity’s
presentation currency; 1 1 1 1 1 1
– contributions by the employer; 1 1 1 1 1 1
– contributions by plan participants; 1 1 1 1 1 1
– benefits paid; 1 1 1 1 1 1
– business combinations; and 1 1 1 1 1 1
– settlements. 1 1 1 1 1 1
f. a reconciliation of the present value of the
defined benefit obligation in (c.) and the fair value
of the plan assets in (e.) to the assets and liabilities
recognised in the Balance Sheet, showing at least
– the net actuarial gains or losses not recognised in
the Balance Sheet; 1 1 1 1 1 1
– the past service cost not recognised in the
Balance Sheet; 1 1 1 1 1 1
– any amount not recognised as an asset, because
of the limit in IAS 19.58(b); 1 1 1 1 1 1
– the fair value at the balance sheet date of any
reimbursement right recognised as an asset under in
accordance with IAS 19.104A (with a brief
description of the link between the reimbursement
right and the related obligation); and 1 1 1 1 1 1
– the other amounts recognised in the Balance 1 1 1 1 1 1
g. the total expense recognised in profit or loss for
each of the following, and the line item(s) in which
they are included:
– current service cost; 1 1 1 1 1 1
– interest cost; 1 1 1 1 1 1
– expected return on plan assets; 1 1 1 1 1 1
– expected return on any reimbursement right
recognised as an asset in accordance with IAS
19.104A; 1 1 1 1 1 1
– actuarial gains and losses; 1 1 1 1 1 1
– past service cost; 1 1 1 1 1 1
– the effect of any curtailment or settlement; and 1 1 1 1 1 1
– the effect of the limit in IAS 19.58(b). 1 1 1 1 1 1
h. the total amount recognised in the Statement of
Recognised Income and Expense for each of the
following:
– actuarial gains and losses; and 1 1 1 1 1 1
– the effect of the limit in IAS 19.58(b). 1 1 1 1 1 1
i. for entities that recognise actuarial gains and
losses in the Statement of Recognised Income and
Expense in accordance with IAS 19.93A, the
cumulative amount of actuarial gains and losses
recognised in the Statement of Recognised Income 1 1 1 1 1 1
and Expense.
j. for each major category of plan assets, which
shall include, but is not limited to, equity
instruments, debt instruments, property, and all
other assets, the percentage or amount that each
major category constitutes of the fair value of the 1 1 1 1 1 1
total plan assets.
Page 29 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
k. the amounts included in the fair value of plan
assets for:
– each category of the entity’s own financial
instruments; and 1 1 1 1 1 1
– any property occupied by, or other assets used by,
the entity. 1 1 1 1 1 1
l. a narrative description of the basis used to
determine the overall expected rate of return on
assets, including the effect of the major categories
of plan assets. 1 1 1 1 1 1
m. the actual return on plan assets, as well as the
actual return on any reimbursement right
recognised as an asset in accordance with IAS 1 1 1 1 1 1
19.104A
n. the principal actuarial assumptions used (in
absolute terms and not just as a margin between
different percentages or other variables) as at the
balance sheet date, including, when applicable:
– the discount rates; 1 1 1 1 1 1
– the expected rates of return on any plan assets for
the periods presented in the financial statements; 1 1 1 1 1 1
– the expected rates of return for the periods
presented in the financial statements on any
reimbursement right recognised as an asset in
accordance with IAS 19.104A; 1 1 1 1 1 1
– the expected rates of salary increases (and of
changes in an index or other variable specified in
the formal or constructive terms of a plan as the
basis for future benefit increases); 1 1 1 1 1 1
– medical cost trend rates; and 1 1 1 1 1 1
– any other material actuarial assumptions used. 1 1 1 1 1 1
o. the effect of an increase of one percentage point
and the effect of a decrease of one percentage point
in the assumed medical cost trend rates on:
– the aggregate of the current service cost and
interest cost components of net periodic post-
employment medical costs; and 1 1 1 1 1 1
– the accumulated post-employment benefit
obligation for medical costs. 1 1 1 1 1 1
IAS 19.120 For the purposes of the disclosure, all other
A (o) assumptions shall be held constant. For plans
operating in a high inflation environment, the
disclosure shall be the effect of a percentage
increase or decrease in the assumed medical cost
trend rate of a significance similar to one
percentage point in a low inflation environment.
p. the amounts for the current annual period and
previous four annual periods of:
– the present value of the defined benefit
obligation, the fair value of the plan assets and the
surplus or deficit in the plan; and 1 1 1 1 1 1
– the experience adjustments arising on:
(A) the plan liabilities expressed either as (1) an
amount or (2) a percentage of the plan liabilities at
the balance sheet date; and 1 1 1 1 1 1
(B) the plan assets expressed either as (1) an
amount or (2) a percentage of the plan assets at the
balance sheet date. 1 1 1 1 1 1
IAS 19.120 If an entity is a first time adopter, the entity may
A (p) disclose the amounts required by IAS 19.120A(p)
as the amounts are determined for each accounting
period retrospectively from the transition date
(IFRS 1.20A) (see item 27.)
q. the employer’s best estimate of contributions
expected to be paid to the plan during the annual
period beginning after the balance sheet date. 1 1 1 1 1 1
154 IAS 19.122 When the entity provides disclosures in total for a
grouping of defined benefit plans, are such
disclosures provided in the form of weighted
averages or of relatively narrow ranges. 1 1 1 1 1 1
Page 30 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
155 IAS 19.124 Does the entity disclose the following information
when required by IAS 24:
a. related party transactions with post-employment
benefit plans; and 1 1 1 1 1 1
b. post-employment benefits for key management
personnel. 1 1 1 1 1 1
156 IAS 19.125 When required by IAS 37, does the entity disclose
information about contingent liabilities arising from
post-employment benefit obligations. 1 1 1 1 1 1
157 IAS 19.116 Does the entity offset an asset relating to one plan
against a liability relating to another plan when and
only when the entity:
a. has a legally enforceable right to use a surplus in
one plan to settle obligations under the other plan;
and 1 1 1 1 1 1
b. intends either to settle the obligations on a net
basis, or realise the surplus in one plan and settle
the obligation under the other plan simultaneously. 1 1 1 1 1 1
Other long-term employee benefits
IAS 19.131 Although IAS 19 does not require specific
disclosures about other long-term employee
benefits, other Standards may require disclosures,
for example where the expense resulting from such
benefits is material and so would require disclosure
in accordance with IAS 1.
Termination benefits
158 IAS 19.141 If there is uncertainty about the number of
employees who will accept an offer of termination
benefits, a contingent liability exists. Does the
entity disclose, as required by IAS 37, information
about the contingent liability unless the possibility
of an outflow in settlement is remote. 1 1 1 1 1 1
159 IAS 19.142 Does the entity disclose, as required by IAS 1, the
nature and amount of termination benefits if 1 1 1 1 1 1
160 IAS 19.143 When required by IAS 24, does the entity disclose
information about termination benefits for key
management personnel. 1 1 1 1 1 1
EQUITY
IAS 1.80 An entity without share capital, such as a
partnership, shall disclose information equivalent to
that required below, showing movements during
the period in each category of equity interest, and
the rights, preferences and restrictions attaching to
each category of equity interest.
161 IAS 1.79 Does the entity disclose the following information
for each class of share capital (or for each category
of equity interest for an entity without share
capital):
a. the number of shares authorised; 1 1 1 1 1 1
b. the number of shares issued and fully paid, and
issued but not fully paid; 1 1 1 1 1 1
c. par value per share, or that the shares have no par
value; 1 1 1 1 1 1
d. a reconciliation of the number of shares
outstanding at the beginning and at the end of the
period; 1 1 1 1 1 1
e. the rights, preferences and restrictions attaching
to that class including restrictions on the
distribution of dividends and the repayment of 1 1 1 1 1 1
IAS capital; in the entity held by the entity or by its
f. shares
32.34,IAS subsidiaries or associates (‘treasury shares’); and
24.17 1 1 1 1 1 1
g. shares reserved for issue under options and
contracts for the sale of shares, including terms and
amounts. 1 1 1 1 1 1
162 IAS 1.79 Does the entity describe the nature and purpose of
each reserve within equity. 1 1 1 1 1 1
163 IAS 32.34, Does the entity provide disclosure in accordance
IAS 24.17 with IAS 24, if the entity reacquires its own shares
from related parties. 1 1 1 1 1 1
Page 31 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
Members' shares in co-operative entities and
similar instruments (IFRIC 2)
IFRIC 2.5, The contractual right of the holder of a financial
IFRIC 2.8 instrument (including members’ shares in co-
operative entities) to request redemption does not,
in itself, require that financial instrument to be
classified as a financial liability. Rather, the entity
must consider all of the terms and conditions of the
financial instrument in determining its
classification as a financial liability or equity.
Those terms and conditions include relevant local
laws, regulations and the entity’s governing charter
that can impose various types of prohibitions on the
redemption of members’ shares.
164 IFRIC When a change in the redemption prohibition of
2.13 members’ shares leads to a transfer between
financial liabilities and equity, does the entity
disclose separately the amount, timing and reason
for the transfer. 1 1 1 1 1 1
ERRORS
165 IAS 8.42, Has the amount of the correction of an error been
IAS 8.43 reported either (unless this would require undue
cost or effort):
a. by restating the comparative amounts for the
prior period(s) in which the error occurred; or 1 1 1 1 1 1
b. when the error occurred before the earliest prior
period presented, by restating the opening balances
of assets, liabilities and retained equity for that
period. 1 1 1 1 1 1
166 IAS 8.44 When it is impracticable to determine the period-
specific effects of an error on comparative
information, does the entity restate the opening
balance of assets, liabilities and equity for the
earliest period for which retrospective restatement
is practicable. 1 1 1 1 1 1
167 IAS 8.45 When it is impractical to determine the cumulative
effect, at the beginning of the current period, the
entity shall restate the comparative information to
correct the error prospectively from the earliest date
practicable. 1 1 1 1 1 1
IAS 8.46 The correction of a prior period error is excluded
from profit or loss for the period in which the error
is discovered. Any information presented about
prior periods, including any historical summaries of
financial data, is restated as far back as practicable.
168 IAS 8.49 Does the entity disclose the following information:
a. the nature of the error; 1 1 1 1 1 1
b. the amount of the correction for each prior
period presented (to the extent practicable) for each
financial statement line item affected; 1 1 1 1 1 1
c. the amount of the correction for each prior period
presented (to the extent practicable) for basic and
diluted earnings per share (where IAS 33 applies to
the entity); 1 1 1 1 1 1
d. the amount of the correction at the beginning of
the earliest period presented; and 1 1 1 1 1 1
e. where retrospective restatement is impracticable,
the circumstances that led to the existence of that
condition and a description of how and from when
the error has been corrected. 1 1 1 1 1 1
IAS 8.49 Financial statements of subsequent periods need not
repeat the disclosures noted in IAS 8.49 above. 1 1 1 1 1 1
EVENTS AFTER END OF REPORTING
PERIOD
169 IAS 10.19 Have the disclosures in the financial statements
been updated to reflect information that has been
received after the end of reporting periond but
which relates to conditions that existed at the 1 1 1 1 1 1
balance sheet date.
Page 32 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
170 IAS 10.21 If non-adjusting events after the end of reporting
period are material, and thus non-disclosure could
influence the economic decisions of users taken on
the basis of the financial statements, does the entity
disclose the following for each material category of
non-adjusting event after balance sheet date (see
IAS 10.22 which provides examples of such
events):
a. the nature of the event; and 1 1 1 1 1 1
b. an estimate of its financial effect, or a statement
that such an estimate cannot be made. 1 1 1 1 1 1
FINANCIAL GUARANTEE CONTRACTS
IAS 39.9 A f inancial guarantee contract is defined as a
contract that requires the issuer to make specified
payments to reimburse the holder for a loss it incurs
because a specified debtor fails to make payment
when due in accordance with the original or
modified terms of a debt instrument.
171 IAS 1.117 Does the entity disclose its accounting policy in
relation to accounting for Financial Guarantee
Contracts. 1 1 1 1 1 1
FINANCIAL INSTRUMENTS
Classes of financial instruments and level of
disclosure
172 IFRS 7.6 Where disclosures are required by class of financial
instrument, does the entity:
– group financial instruments into classes that are
appropriate to the nature of the information
disclosed and that take into account the
characteristics of those financial instruments. 1 1 1 1 1 1
– provide sufficient information to permit
reconciliation to the relevant items presented in the
Balance Sheet. 1 1 1 1 1 1
IFRS 7.B1 - IFRS 7.6 (item 152.) requires an entity to group
B3 financial instruments into classes that are
appropriate to the nature of the information
disclosed and that take into account the
characteristics of those financial instruments. These
classes are determined by the entity and as such,
are distinct from the categories of financial
instruments specified in IAS 39. instruments, an
In determining classes of financial
entity shall, at minimum:
(a) distinguish instruments measured at amortised
cost from those measured at fair value 1 1 1 1 1 1
(b) treat as a separate class or classes those
financial instruments outside the scope of this IFRS 1 1 1 1 1 1
An entity decides, in the light of its circumstances,
how much detail it provides to satisfy the
requirements and how it aggregates information to
display the overall picture without combining
information with different characteristics. It is
necessary to strike a balance between
overburdening financial statements with excessive
detail that may not assist users of financial
statements and obscuring important information as
a result of too much aggregation. For example, an
entity shall not obscure important information by
including it among a large amount of insignificant
detail. Similarly, an entity shall not disclose
information that is so aggregated that it obscures
important differences between individual
transactions or associated risks.
Significance of Financial Instruments for
Financial Position and Performance
173 IFRS 7.7 Does the entity disclose information that enables
users of its financial statements to evaluate the
significance of financial instruments for its
financial position and performance. 1 1 1 1 1 1
Statement of financial position
Categories of financial assets and financial
liabilities
Page 33 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
174 IFRS 7.8 Does the entity disclose as a minimum either in the
IAS 39.9 statement of financial position or in the notes the
carrying amounts of each of the following
categories, as defined in IAS 39:
a. financial assets at fair value through profit or
loss, showing separately
(i) those designated as such upon initial
recognition; and 1 1 1 1 1 1
(ii) those classified as held for trading in
accordance with IAS 39; 1 1 1 1 1 1
b. held-to-maturity investments; 1 1 1 1 1 1
c. loans and receivables; 1 1 1 1 1 1
d. available-for-sale financial assets; 1 1 1 1 1 1
e. financial liabilities at fair value through profit or
loss, showing separately
(i) those designated as such upon initial
recognition; and 1 1 1 1 1 1
(ii) those classified as held for trading in
accordance with IAS 39; 1 1 1 1 1 1
f. financial liabilities measured at amortised cost. 1 1 1 1 1 1
Financial assets or financial liabilities at fair
value through profit or loss
175 IFRS 7.9 If the entity has designated a loan or receivable (or
IFRS a group of loans or receivables) as at fair value
7.36(a) through profit or loss, does it disclose as a
minimum:
a. the maximum exposure to credit risk (see IFRS
7.36(a)) of the loan or receivable (or group of loans
or receivables) at the reporting date; 1 1 1 1 1 1
b. the amount by which any related credit
derivatives or similar instruments mitigate that
maximum exposure to credit risk; 1 1 1 1 1 1
c. the amount of change, during the period and
cumulatively, in the fair value of the loan or
receivable (or group of loans or receivables) that is
attributable to changes in the credit risk of the
financial asset determined either:
IFRS 7.9 i. as the amount of change in its fair value that is
not attributable to changes in market conditions that
give rise to market risk; or 1 1 1 1 1 1
ii. using an alternative method the entity believes
more faithfully represents the amount of change in
its fair value that is attributable to changes in credit
risk of the asset. 1 1 1 1 1 1
Changes in market conditions that give rise to
market risk include changes in an observed
(benchmark) interest rate, commodity price, foreign
exchange rate or index of prices or rates.
d. the amount of the change in the fair value of any
related credit derivatives or similar instruments that
has occurred during the period and cumulatively
since the loan or receivable was designed. 1 1 1 1 1 1
176 IFRS 7.10 If the entity has designated a financial liability as at
fair value through profit or loss in accordance with
IAS 39.9, has it disclosed as a minimum:
a. the amount of change, during the period and
cumulatively, in the fair value of the financial
liability that is attributable to changes in the credit
risk of that liability determined either:
(i) as the amount of change in its fair value that is
not attributable to changes in market conditions that
give rise to market risk (see Appendix B, IFRS 7
paragraph B4); or 1 1 1 1 1 1
(ii) using an alternate method the entity believes
more faithfully represents the amount of change in
its fair value that is attributable to changes in the
credit risk of the liability. 1 1 1 1 1 1
Page 34 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
Changes in market conditions that give rise to
market risk include changes in a benchmark
interest rate, price of another entity’s financial
instrument, commodity price, foreign exchange rate
or an index of prices or rates. For contracts that
include a unit-linking feature, changes in market
conditions include changes in the performance of
the related internal or external investment fund.
b. the difference between the financial liability’s
carrying amount and the amount the entity would
be contractually required to pay at maturity to the
holder of the obligation. 1 1 1 1 1 1
177 IFRS 7.11 Does the entity disclose as a minimum:
a. the methods used to comply with the
requirements in items 155(c). and 156(a). of this 1 1 1 1 1 1
b. if the entity believes that the disclosure it has
given to comply with the requirements in items
155(c). and 156(a). of this checklist does not
faithfully represent the change in the fair value of
the financial asset or financial liability attributable
to changes in the credit risk, the reasons for
reaching this conclusion and the factors the entity 1 1 1 1 1 1
believes are relevant.
Reclassification
178 IFRS 7.12, If the entity has reclassified a financial asset as one
IAS 39.51 measured:
a. at cost or amortised cost, rather than at fair
value; or
b. at fair value, rather than at cost or amortised cost
does it disclose as a minimum the amount
reclassified into and out of each category and the
reason for that reclassification (see IAS 39.51-54) 1 1 1 1 1 1
Derecognition
179 IFRS 7.13 When the entity has transferred financial assets in
,IAS 39.15 such a way that part or all of the financial assets do
not qualify for derecognition (see IAS 39.15-37),
does the entity disclose as a minimum for each
class of such financial assets:
a. the nature of the assets; 1 1 1 1 1 1
b. the nature of the risks and rewards of ownership
to which the entity remains exposed; and 1 1 1 1 1 1
c. when the entity continues to recognise all of the
assets, the carrying amounts of the assets and of the
associated liabilities; and 1 1 1 1 1 1
d. when the entity continues to recognise the assets
to the extent of its continuing involvement,
– the total carrying amount of the original assets; 1 1 1 1 1 1
– the amount of the assets that the entity continues
to recognise; and 1 1 1 1 1 1
– the carrying amount of the associated liabilities. 1 1 1 1 1 1
Collateral
180 IFRS 7.14 Does the entity disclose as a minimum:
a. the carrying amount of financial assets pledged
as collateral for liabilities or contingent liabilities,
including amounts that have been reclassified in
accordance with IAS 39. 37(a); and 1 1 1 1 1 1
b. the terms and conditions relating to the pledge. 1 1 1 1 1 1
181 IFRS 7.15 When an entity holds collateral (of financial or non-
financial assets) and is permitted to sell or repledge
the collateral in the absence of default by the owner
of the collateral, does the entity disclose as a
minimum:
a. the fair value of the collateral held; 1 1 1 1 1 1
b. the fair value of any such collateral sold or
repledged, and whether the entity has an obligation
to return it; and 1 1 1 1 1 1
c. the terms and conditions associated with its use
of this collateral. 1 1 1 1 1 1
Allowance account for credit losses
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Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
182 IFRS 7.16 When financial assets are impaired by credit losses
and the entity records the impairment in a separate
account (eg an allowance account or similar
account used to record a collective impairment of
assets) rather than directly reducing the carrying
amount of the asset, does the entity disclose as a
minimum a reconciliation of changes in that
account during the period for each class of 1 1 1 1 1 1
financial assets.
Compound financial instruments with multiple
embedded derivatives
183 IFRS 7.17 If an entity has issued an instrument that contains
both a liability and an equity component (see IAS
32.28) and the instrument has multiple embedded
derivatives whose values are interdependent (such
as a callable convertible debt instrument), does the
entity disclose as a minimum the existence of those
features. 1 1 1 1 1 1
Defaults and breaches
184 IFRS 7.18 For loans payable recognised at the reporting date
does the entity disclose as a minimum:
a. details of any defaults during the period or
principal, interest, sinking fund, or redemption
terms of those loans payable; 1 1 1 1 1 1
b. the carrying amount of the loans payable in
default at the reporting date; and 1 1 1 1 1 1
whether the default was remedied, or the terms of
the loans payable were renegotiated, before the
financial statements were authorised for issue. 1 1 1 1 1 1
185 IFRS 7.19 If, during the period, there were breaches of loan
agreement terms other than those described in IFRS
7.18, does the entity disclose as a minimum the
same information as required by IFRS 7.18 if
those breaches permitted the lender to demand
accelerated repayment (unless the breaches were
remedied, or the terms of the loan were
renegotiated, on or before the reporting date).
Statement of comprehensive income and equity
Items of income, expense, gains and losses
186 IFRS 7.20 Does the entity disclose as a minimum the
following items of income, expense, gains or losses
either on the face of the financial statements or in
the notes: or net losses on:
a. net gains
(i) financial assets or financial liabilities at fair
value through profit or loss, showing separately:
– those on financial assets or financial liabilities
designated as such upon in initial recognition; and 1 1 1 1 1 1
– those on financial assets or financial liabilities
that are classified as held for trading in accordance
with IAS 39; 1 1 1 1 1 1
(ii) available-for-sale financial assets, showing
separately:
– the amount of gain or loss recognised directly in
equity during the period; and 1 1 1 1 1 1
– the amount removed from equity and recognised
in profit or loss for the period; 1 1 1 1 1 1
(iii) held-to-maturity investments; 1 1 1 1 1 1
(iv) loans and receivables; and 1 1 1 1 1 1
(v) financial liabilities measured at amortised cost. 1 1 1 1 1 1
b. total interest income and total interest expense
(calculated using the effective interest method) for
financial assets or financial liabilities that are not at
fair value through profit or loss; 1 1 1 1 1 1
IFRS 4.35 (d) states that an entity must disclose the
total interest expense recognised in profit or loss
but does not need to calculate such interest expense
using the effective interest method as required
under IFRS 7.20(b) for financial instruments that
contain a discretionary participation feature.
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ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
c. fee income and expense (other than amounts
included in determining the effective interest rate)
arising from:
(i) financial assets or financial liabilities that are
not at fair value through profit or loss; and 1 1 1 1 1 1
(ii) trust and other fiduciary activities that result in
the holding or investing of assets on behalf of
individuals, trusts, retirement benefit plans and 1 1 1 1 1 1
other institutions; on impaired financial assets
d. interest income
accrued in accordance with of IAS 39.AG 93; and 1 1 1 1 1 1
e. the amount of any impairment loss for each class
of financial asset. 1 1 1 1 1 1
Other disclosures
Accounting policies
187 IFRS 7.21 Does the entity disclose as a minimum, in
accordance IAS 1.108, in the summary of
significant accounting policies, the measurement
basis (or bases) used in preparing the financial
statements and the other accounting policies used
that are relevant to an understanding of the
financial statements in relation to financial 1 1 1 1 1 1
188 IFRS 7.B5 instruments. requirements set out in item 167 does
To meet the
the entity disclose as a minimum, for financial
assets or financial liabilities designated as at fair
value through profit or loss:
(i) the nature of the financial assets or financial
liabilities the entity has designated as at fair value
through profit or loss; 1 1 1 1 1 1
(ii) the criteria for so designating such financial
assets or financial liabilities on initial recognition 1 1 1 1 1 1
(iii) how the entity has satisfied the conditions in
IAS 39.9, 11A or 12 for such designation.
– For instruments designated in accordance with
paragraph (b)(i) of the definition of a financial
asset or financial liability at fair value through
profit or loss in IAS 39, that disclosure includes a
narrative description of the circumstances
underlying the measurement or recognition
inconsistency that would otherwise arise. 1 1 1 1 1 1
– For instruments designated in accordance with
paragraph (b)(ii) of the definition of a financial
asset or financial liability at fair value through
profit or loss in IAS 39, that disclosure includes a
narrative description of how designation at fair
value through profit or loss is consistent with the
entity’s documented risk management or 1 1 1 1 1 1
189 IFRS 7.B5 investment strategy.
Does the entity disclose:
a. the criteria for designating financial assets as
available for sale; 1 1 1 1 1 1
b. whether regular way purchases and sales of
financial assets are accounted for at trade date or at
settlement date (see IAS 39.38); 1 1 1 1 1 1
c. when an allowance account is used to reduce the
carrying amount of financial assets impaired by
credit losses;
(i) the criteria for determining when the carrying
amount of impaired financial assets is reduced
directly (or, in the case of a reversal of a write-
down, increased directly) and when the allowance
account is used; and 1 1 1 1 1 1
(ii) the criteria for writing off amounts charged to
the allowance account against the carrying amount
of impaired financial assets (see IFRS 7.16); 1 1 1 1 1 1
d. how net gains or net losses on each category of
financial instrument are determined (see IFRS
7.20(a)), for example, whether the net gains or net
losses on items at fair value through profit or loss
include interest or dividend income; 1 1 1 1 1 1
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Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
e. the criteria the entity uses to determine that there
is objective evidence that an impairment loss has
occurred (see IFRS 7.20(e)). 1 1 1 1 1 1
f. when the terms of financial assets that would
otherwise be past due or impaired have been
renegotiated, the accounting policy for financial
assets that are the subject of renegotiated terms (see
IFRS 7.36(d)). 1 1 1 1 1 1
190 IFRS 7.B5 Does the entity disclose as a minimum, in the
,IAS1.122 summary of significant accounting policies or other
notes, the judgements, apart from those involving
estimations, that management has made in the
process of applying the entity’s accounting policies
and that have the most significant effect on the
amounts recognised in the financial statements as
required by IAS 1.113. 1 1 1 1 1 1
Reassessment of Embedded Derivatives (IFRIC
9)
191 IFRIC 9.9 If an entity applies IFRIC 9 for annual periods
beginning before 1 June 2006, does it disclose
that fact. 1 1 1 1 1 1
192 IAS 1.108 Does the entity disclose its accounting policy in
relation to the reassessment of embedded
derivatives. 1 1 1 1 1 1
Hedge accounting
193 IFRS 7.22 Does the entity disclose as a minimum the
following separately for each type of hedge
described in IAS 39 (ie, fair value hedges, cash
flow hedges and hedges of a net investment in a
foreign operations):
a. a description of each type of hedge; 1 1 1 1 1 1
b. a description of the financial instruments
designated as hedging instruments and their fair
values at the reporting date; 1 1 1 1 1 1
c. the nature of the risks being hedged. 1 1 1 1 1 1
194 IFRS 7.23 For cash flow hedges, an entity shall disclose as a
minimum:
a. the periods when the cash flows are expected to
occur and when they are expected to affect profit or
loss; 1 1 1 1 1 1
b. a description of any forecast transaction for
which hedge accounting had previously been used
but which is no longer expected to occur; 1 1 1 1 1 1
c. the amount that was recognised in equity during
the period; 1 1 1 1 1 1
d. the amount that was removed from equity and
included in profit or loss for the period, showing
the amount included in each line item in the Income
Statement; and 1 1 1 1 1 1
e. the amount that was removed from equity during
the period and included in the initial cost or other
carrying amount of a non-financial asset or non-
financial liability whose acquisition or incurrence
was a hedged highly probable forecast transaction. 1 1 1 1 1 1
195 IFRS 7.24 Does the entity disclose as a minimum separately:
a. in fair value hedges, gains or losses:
(i) on the hedging instrument; and 1 1 1 1 1 1
(ii) on the hedged item attributable to the hedged
risk; 1 1 1 1 1 1
IFRS 7.24 b. the ineffectiveness recognised in profit or loss
that arises from cash flow hedges; and 1 1 1 1 1 1
c. the ineffectiveness recognised in profit or loss
that arises from hedges of net investment in foreign
operations. 1 1 1 1 1 1
Fair value
IFRS 7.29 The entity is not required to disclose fair value:
a when the carrying amount is a reasonable
approximation of fair value, for example, for
financial instruments such as short-term trade
receivables and payables;
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EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
b. for an investment in equity instruments that do
not have a quoted market price in an active market,
or derivatives linked to such equity instruments,
that is measured at cost in accordance with IAS 39
because its fair value cannot be measured reliably;
or for a contract containing a discretionary
c.
participation feature (see IFRS 4 Appendix A) if
the fair values of that feature cannot be measured
reliably.
196 IFRS 7.25 Does the entity disclose as a minimum for each
class of financial assets and financial liabilities the
fair value of that class of assets and liabilities in a
way that permits it to be compared with its carrying
amount (except for those noted in IFRS 7.29). 1 1 1 1 1 1
197 IFRS 7.26 In disclosing fair values, does the entity group
financial assets and financial liabilities into classes,
but offset them only to the extent that their carrying
amounts are offset in the Balance Sheet. 1 1 1 1 1 1
198 IFRS 7.27 Does the entity disclose as a minimum:
a. the methods and, when a valuation technique is
used, the assumptions applied in determining fair
values of each class of financial assets or financial
liabilities. 1 1 1 1 1 1
For example, if applicable, an entity discloses
information about the assumptions relating to
prepayment rates, rates of estimated credit losses
and interest rates or discount rates.
b. whether fair values are determined, in whole or
in part, directly by reference to published price
quotations in an active market or are estimated
using a valuation technique. 1 1 1 1 1 1
c. whether the fair values recognised or disclosed in
the financial statements are determined in whole or
in part using a valuation technique based on
assumptions that are not supported by prices from
observable current market transactions in the same
instrument (ie, without modification or
repackaging) and not based on available
observable market data. For fair values that are
recognised in the financial statements, if changing
one or more of those assumptions to reasonably
possible alternate assumptions would change fair
value significantly, does the entity state this fact
and disclose the effect of those changes. 1 1 1 1 1 1
For this purpose, significance shall be judged with
respect to profit or loss, and total assets or total
liabilities, or, when changes in fair value are
recognised in equity, total equity.
d. if (c) applies, the total amount of the change in
fair value estimated using such a valuation
technique that was recognised in profit or loss 1 1 1 1 1 1
199 IFRS 7.28 during the period. financial instrument is not
If the market for a
active, an entity establishes its fair value using a
valuation technique (see IAS 39.AG74-AG79).
Nevertheless, the best evidence of fair value at
initial recognition is the transaction price (ie the fair
value of the consideration given or received), unless
conditions described in IAS 39 AG76 are met. It
follows that there could be a difference between the
fair value at initial recognition and the amount that
would be determined at that date using the
valuation technique. between the fair value
If there is a difference
(transaction price) at initial recognition and the
amount that is determined at that date using a
valuation technique, does the entity disclose as a
minimum, by class of financial instrument:
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ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
a. its accounting policy for recognising that
difference in profit or loss to reflect a change in
factors (including time) that market participants
would consider in setting a price (see IAS
39.AG76A); and 1 1 1 1 1 1
IAS 39.AG 76A states that the subsequent
measurement of the financial asset or financial
liability and the subsequent recognition of gains
and losses shall be consistent with the requirements
of this standard. The application of AG 76 may
result in no gain or loss being recognised on the
initial recognition of a financial asset or financial
liability. In such a case, IAS 39 requires that a gain
or loss shall be recognised after initial recognition
only to the extent that it arises from a change in a
factor (including time) that market participants
would consider in setting a price.
b. the aggregate difference yet to be recognised in
profit or loss at the beginning and end of the period
and a reconciliation of changes in the balance of
this difference. 1 1 1 1 1 1
200 IFRS 7.30 In the cases described in IFRS 7.29(b) and (c), does
the entity disclose as a minimum information to
help users of the financial statements make their
own judgements about the extent of possible
differences between the carrying amount of those
financial assets or financial liabilities and their fair
a. the including:
value, fact that fair value information has not been
disclosed for these instruments because their fair
value cannot be measured reliably; 1 1 1 1 1 1
b. a description of the financial instruments, their
carrying amount, and an explanation of why fair
value cannot be measured reliably; 1 1 1 1 1 1
c. information about the market for the instruments; 1 1 1 1 1 1
d. information about whether and how the entity
intends to dispose of the financial instruments; and 1 1 1 1 1 1
e. if financial instruments whose fair value
previously could not be reliably measured are
– that fact; 1 1 1 1 1 1
– their carrying amount at the time of
derecognition; and 1 1 1 1 1 1
– the amount of gain or loss recognised. 1 1 1 1 1 1
Nature and extent of risk arising from financial
instruments
IFRS 7.B6 The disclosures required by IFRS 7.31-42 shall be
either given in the financial statements or
incorporated by cross-reference from the financial
statements to some other statement, such as a
management commentary or risk report, that is
available to users of the financial statements on the
same terms as the financial statements and at the
same time. Without the information incorporated
by cross-reference, the financial statements are
incomplete.
201 IFRS 7.31 Does the entity disclose information that enables
users of its financial statements to evaluate the
nature and extent of risks arising from financial
instruments to which the entity is exposed at the 1 1 1 1 1 1
IFRS 7.32 reporting date. required by IFRS 7.33-42 focus on
The disclosures
the risks that arise from financial instruments and
how they have been managed. These risks typically
include, but are not limited to, credit risk, liquidity
risk and market risk.
Qualitative disclosures
202 IFRS 7.33 For each type of risk arising from financial
instruments, does the entity disclose:
a. the exposures to risk and how they arise; 1 1 1 1 1 1
b. its objectives, policies and processes for
managing the risk and the methods used to measure
the risk; and 1 1 1 1 1 1
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Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
c. any changes in (a) or (b) from the previous
period. 1 1 1 1 1 1
Quantitative disclosures
203 IFRS 7.34 For each type of risk arising from financial
instruments, does the entity disclose:
a. summary quantitative data about its exposure to
that risk at the reporting date based on the
information provided internally to key management
personnel of the entity (as defined in IAS 24), for
example the entity’s board of directors and chief
executive officer; 1 1 1 1 1 1
When an entity uses several methods to manage a
risk exposure, the entity shall disclose information
using the method or methods that provide the most
relevant and reliable information. IAS 8.10 also
discusses relevance and reliability.
b. the disclosures required by items 186 to 192, to
the extent not provided in (a), unless the risk is not
material; and 1 1 1 1 1 1
c. concentrations of risk if not apparent from (a)
and (b). 1 1 1 1 1 1
IFRS 7.34(c) requires disclosures about
concentrations of risk. Concentrations of risk arise
from financial instruments that have similar
characteristics and are affected similarly by
changes in economic or other conditions. The
identification of concentrations of risk requires
judgement taking into account the circumstances of
204 In entity.
IFRS 7.B8 therespect to concentrations of risk, does the entity
disclose:
a. a description of how management determines
concentrations; 1 1 1 1 1 1
b. a description of the shared characteristic that
identifies each concentrations (eg counterparty,
geographical area, currency and market); and 1 1 1 1 1 1
c. the amount of the risk exposure associated with
all financial instruments sharing that characteristic. 1 1 1 1 1 1
205 IFRS 7.35 If the quantitative data disclosed as at the reporting
date are unrepresentative of an entity’s exposure to
risk during the period, does the entity provide
further information that is representative. 1 1 1 1 1 1
Minimum disclosures
Credit risk
206 IFRS 7.36 Does the entity disclose by class of financial
instrument:
a. the amount that best represents its maximum
exposure to credit risk at the reporting date without
taking account of any collateral held or other credit
enhancements (eg netting agreements that do not
qualify for offset in accordance with IAS 32); 1 1 1 1 1 1
b. in respect of the amount disclosed in (a), a
description of collateral available as security and
other credit enhancements; 1 1 1 1 1 1
c. information about the credit quality of financial
assets that are neither past due nor impaired; and 1 1 1 1 1 1
d. the carrying amount of financial assets that
would otherwise be past due or impaired whose
terms have been renegotiated. 1 1 1 1 1 1
IFRS 7.B9 MAXIMUM CREDIT RISK EXPOSURE
IFRS 7. IFRS 7.36(a) requires disclosure of the amount that
B10 best represents the entity’s maximum exposure to
credit risk. For a financial asset, this is typically
the gross carrying amount, net of:
a. any amounts offset in accordance with IAS 32;
and
b. any impairment losses recognised in accordance
with IAS 39.
Activities that give rise to credit risk and the
associated maximum exposure to credit risk
include, but are not limited to:
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Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
a. granting loans and receivables to customers and
placing deposits with other entities. In these cases,
the maximum exposure to credit risk is the carrying
amount of the related financial assets;
b. entering into derivative contracts, eg foreign
exchange contracts, interest rate swaps and credit
derivatives. When the resulting asset is measured
at fair value, the maximum exposure to credit risk
at the reporting date will equal the carrying amount;
c. granting financial guarantees. In this case, the
maximum exposure to credit risk is the maximum
amount the entity could have to pay if the guarantee
is called on, which may be significantly greater
than the amount recognised as a liability;
d. making a loan commitment that is irrevocable
over the life of the facility or is revocable only in
response to a material adverse change. If the issuer
cannot settle the loan commitment net in cash or
another financial instrument, the maximum credit
exposure is the full amount of the commitment.
This is because it is uncertain whether the amount
of any undrawn portion may be drawn upon in the
future. This may be significantly greater than the
amount recognised as a liability.
IAS 32.47 An entity’s intentions with respect to settlement of
particular assets and liabilities may be influenced
by its normal business practices, the requirements
of the financial markets and other circumstances
that may limit the ability to settle net or to settle
simultaneously. When an entity has a right of set-
off, but does not intend to settle net or to realise the
asset and settle the liability simultaneously, the
effect of the right on the entity’s credit risk
exposure is disclosed in accordance with IFRS
IAS 32.50 7.36. financial assets and financial liabilities
When
subject to a master netting arrangement are not
offset, the effect of the arrangement on an entity’s
exposure to credit risk is disclosed in accordance
with IFRS 7.36.
Financial assets that are either past due or
impaired
207 IFRS 7.37 Does the entity disclose by class of financial asset:
a. an analysis of the age of financial assets that are
past due as at the reporting date but not impaired; 1 1 1 1 1 1
b. an analysis of financial assets that are
individually determined to be impaired as at the
reporting date, including the factors the entity
considered in determining that they are impaired; 1 1 1 1 1 1
and the amounts disclosed in (a) and (b), a
c. for
description of collateral held by the entity as
security and other credit enhancements and, unless
impracticable, an estimate of their fair value. 1 1 1 1 1 1
Collateral and other credit enhancements
obtained
208 IFRS 7.38 When an entity obtains financial or non-financial
assets during the period by taking possession of
collateral it holds as security or calling on other
credit enhancements (eg guarantees), and such
assets meet the recognition criteria in other
Standards, does the entity disclose:
a. the nature and carrying amount of the assets
obtained; and 1 1 1 1 1 1
b. when the assets are not readily convertible into
cash, its policies for disposing of such assets or for
using them in its operations. 1 1 1 1 1 1
Liquidity risk
209 IFRS 7.39 Does the entity disclose:
a. a maturity analysis for financial liabilities that
shows the remaining contractual maturities; and 1 1 1 1 1 1
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b. a description of how it manages the liquidity risk
inherent in (a). 1 1 1 1 1 1
Contractual maturity analysis
IFRS 7.B1 In preparing the contractual maturity analysis for
1-B16 financial liabilities required by IFRS 7.39(a), an
entity uses its judgement to determine an
appropriate number of time bands. For example, an
entity might determine that the following time
bands are appropriate:
a. not later than one month;
b. later than one month and not later than three
months;
c. later than three months and not later than one
d. later than one year and not later than five years.
When a counterparty has a choice of when an
amount is paid, the liability is included on the basis
of the earliest date on which the entity can be
required to pay. For example, financial liabilities
that an entity can be required to repay on demand
(eg demand deposits) are included in the earliest
time band.
When an entity is committed to make amounts
available in instalments, each installments is
allocated to the earliest period in which the entity
can be required to pay. For example, an undrawn
loan commitment is included in the time band
containing the earliest date it can be drawn.
The amounts disclosed in the maturity analysis are
the contractual undiscounted cash flows, for
a. gross finance lease obligations (before deducting
finance charges);
b. prices specified in forward agreements to
purchase financial assets for cash;
c. net amounts for pay-floating/received-fixed
interest rate swaps for which net cash flows are
exchanged;
d. contractual amounts to be exchanged in a
derivative financial instrument (eg a currency
swap) for which gross cash flows are exchanged;
and
e. gross loan commitments.
Such undiscounted cash flows differ from the
amount included in the Balance Sheet because the
Balance Sheet amount is based on discounted cash
flows.
If appropriate, an entity shall disclose the analysis
of derivative financial instruments separately from
that of non-derivative financial instruments in the
contractual maturity analysis for financial liabilities
required by IFRS 7.39(a). For example, it would be
appropriate to distinguish cash flows from
derivative financial instruments and non-derivative
financial instruments if the cash flows from
derivative financial instruments are settled gross.
This is because the gross cash outflow may be
accompanied by a payableinflow.fixed, the amount
When the amount related is not
disclosed is determined by reference to the
conditions existing at the reporting date. For
example, when the amount payable varies with
changes in an index, the amount disclosed may be
based on the level of the index at the reporting date.
Market risk
Sensitivity analysis
210 IFRS 7.40 Unless the entity complies with IFRS 7.41 (see
item 191.), does the entity disclose:
a. a sensitivity analysis for each type of market risk
to which the entity is exposed at the reporting date,
showing how profit or loss and equity would have
been affected by changes in the relevant risk
variable that were reasonably possible at the 1 1 1 1 1 1
reporting date; and assumptions used in preparing
b. the methods
the sensitivity analysis; and 1 1 1 1 1 1
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c. changes from the previous period in the methods
and assumptions used, and reasons for such 1 1 1 1 1 1
IFRS 7.B1 IFRS 7.40(a) requires a sensitivity analysis for each
7-21 type of market risk to which the entity is exposed.
In accordance with IFRS 7.B3, an entity decides
how it aggregates information to display the overall
picture without combining information with the
different characteristics about exposures to risks
from significantly different economic
environments, for example:
a. an entity that trades financial instruments might
disclose this information separately for financial
instruments held for trading and those not held for
trading; and
b. an entity would not aggregate its exposure to
market risks from areas of hyperinflation with its
exposure to the same market risks from areas of
very low inflation.
If an entity has exposure to only one type of market
risk in only one economic environment, it would
not show disaggregated information.
IFRS 7.40(a) requires the sensitivity analysis to
show the effect on profit or loss and equity of
reasonably possible changes in the relevant risk
variable (eg prevailing market interest rates,
currency rates, equity prices or commodity prices).
For this purpose: required to determine what the
a. Entities are not
profit or loss for the period would have been if
relevant risk variables had been different. Instead,
entities disclose the effect on profit or loss and
equity at the balance sheet date assuming that a
reasonably possible change in the relevant risk
variable had occurred at the balance sheet date and
had been applied to the risk exposures in existence
at that date. For example, if an entity has a floating
rate liability at the end of the year, the entity would
disclose the effect on profit or loss (ie interest
expense) for the current year if interest rates had
varied by reasonably possible amounts.
b. Entities are not required to disclose the effect on
profit or loss and equity for each change within a
range of reasonably possible changes of the
relevant risk variable. Disclosure of the effects of
the changes at the limits of the reasonably possible
range would be sufficient.
In determining what a reasonably possible changes
in the relevant risk variable is, an entity should
consider:
a. the economic environments in which it operates.
A reasonably possible change should not include
remote or ‘worst case’ scenarios or ‘stress tests’.
Moreover, if the rate of change in the underlying
risk variable is stable, the entity need not alter the
chosen reasonably possible change in the risk
variable. The entity would disclose the effect on
profit or loss and equity if interest rates were to
change to 5 per cent or 6 per cent. The entity would
not be required to revise its assessment that interest
rates have become significantly more volatile.
b. the time frame over which it is making the
assessment. The sensitivity analysis shall show the
effects of changes that are considered to be
reasonably possible over the period until the entity
will next present these disclosures, which is usually
its next annual reporting period.
Page 44 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
(IFRS 7.41 permits an entity to use a sensitivity
analysis that reflects interdependencies between
risk variables, such as value-at-risk methodology, if
it uses this analysis to manage its exposure to
financial risks. This applies even if such a
methodology measures only the potential for loss
and does not measure the potential for gain. Such
an entity might comply with IFRS 7.41(a) by
disclosing the type of value-at-risk model used (eg
whether the model relies on Monte Carlo
simulations), an explanation about how the model
works and the main assumptions (eg the holding
period and confidence level).
An entity shall provide sensitivity analyses for the
whole of its business, but may provide different
types of sensitivity analysis for different classes of
financial instruments.
211 IFRS 7.41 If an entity prepares a sensitivity analysis, such as a
value-at-risk, that reflects interdependencies
between risk variables (eg interest rates and
exchange rates) and uses it to manage financial
risks, it may use that sensitivity analysis in place of
the analysis specified in IFRS 7.40 (see item 187.).
Does the entity in this case also disclose:
a. an explanation of the method used in preparing
such a sensitivity analysis, and of the main
parameters and assumptions underlying the data 1 1 1 1 1 1
provided; and
b. an explanation of the objective of the method
used and of limitations that may result in the
information not fully reflecting the fair value of the
assets and liabilities involved. 1 1 1 1 1 1
Market risk – sensitivity analysis (IFRS 7.40-41)
CURRENCY RISK
For the purpose of IFRS 7, currency risk does not
arise from financial instruments that are non-
monetary items or from financial instruments
denominated in the functional currency.
A sensitivity analysis is disclosed for each currency
to which an entity has significant exposure.
IFRS 7.B2 OTHER PRICE RISK
2-28
Other price risk arises on financial instruments
because of changes in, for example, commodity
prices or equity prices. To comply with IFRS 7.40,
an entity might disclose the effect of a decrease in a
specified stock market index, commodity price, or
other risk variable. For example, if an entity gives
residual value guarantees that are financial
instruments, the entity discloses an increase or
decrease in the value of the assets to which the
guarantee applies.
Two examples of financial instruments that give
rise to equity price risk are a holding of equities in
another entity, and an investment in a trust, which
in turn holds investments in equity instruments.
The fair values of such financial instruments are
affected by changes in the market price of the
underlying equity instruments.
In accordance with IFRS 7.40(a), the sensitivity of
profit or loss (that arises, for example, from
instruments classified as at fair value through profit
or loss and impairments of available-for-sale
financial assets) is disclosed separately from the
sensitivity of equity (that arises, for example, from
instruments classified as available for sale)
Page 45 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
Financial instruments that an entity classifies as
equity instruments are not remeasured. Neither
profit or loss nor equity will be affected by the
equity price risk of those instruments. Accordingly,
no sensitivity analysis is required.
Other market risk disclosures
212 IFRS 7.42 When the sensitivity analyses disclosed in
accordance with IFRS 7.40-41 are unrepresentative
of a risk inherent in a financial instrument (for
example because the year-end exposure does not
reflect the exposure during the year), does the entity
disclose that fact and the reason it believes the
sensitivity analyses are unrepresentative. 1 1 1 1 1 1
Reassessment of embedded derivatives (IFRIC
9)
IAS 1.108 Does the entity disclose its accounting policy in
relation to the reassessment of embedded
derivatives. 1 1 1 1 1 1
FOREIGN CURRENCY TRANSLATION
IAS 21.51 References to ‘functional currency’ shall, in the
case of a group, be taken to refer to the functional
currency of the parent.
213 IAS 21.52 Does the entity disclose the following information:
a. the amount of exchange differences recognised
in profit or loss except for those arising on financial
instruments measured at fair value through profit or
loss in accordance with IAS 39; and 1 1 1 1 1 1
b. net exchange differences classified in a separate
component of equity, and a reconciliation of the
amount of such exchange differences at the
beginning and end of the period. 1 1 1 1 1 1
214 IAS 21.53 When the presentation currency is different from
the functional currency, does the entity disclose the
following information:
a. that fact; 1 1 1 1 1 1
b. the functional currency; and 1 1 1 1 1 1
c. the reason for using a different presentation
currency. 1 1 1 1 1 1
215 IAS 21.54 When there is a change in the functional currency
of either the reporting entity or a significant foreign
operation, does the entity disclose the following
information:
a. that fact; and 1 1 1 1 1 1
b. the reason for the change in functional currency 1 1 1 1 1 1
216 IAS 21.55 When the entity presents its financial statements in
a currency that is different from its functional
currency, does it describe the financial statements
as complying with IFRS only if they comply with
all the requirements of each applicable Standard
and each applicable Interpretation of those
Standards including the translation method set out
in IAS 21.39 and IAS 21.42. 1 1 1 1 1 1
217 IAS 21.57 When the entity displays its financial statements or
other financial information in a currency that is
different from either its functional currency or its
presentation currency and the requirements of IAS
21.55 are not met, does the entity:
a. clearly identify the information as supplementary
information to distinguish it from the information
that complies with IFRS; 1 1 1 1 1 1
b. disclose the currency in which the supplementary
information is displayed; and 1 1 1 1 1 1
c. disclose the entity’s functional currency and the
method of translation used to determine the
supplementary information. 1 1 1 1 1 1
FOURTH QUARTER INFORMATION
Page 46 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
218 IAS 34.26 If an estimate of an amount reported in an interim
period is changed significantly during the final
interim period of the financial year but a separate
financial report is not published for that final
interim period, has the following information been
disclosed in a note to the annual financial
statements for that financial year:
a. the nature of that change in estimate; and 1 1 1 1 1 1
b. the amount of that change in estimate. 1 1 1 1 1 1
GOVERNMENT GRANTS
219 IAS 20.39 Has the following information on government
grants been disclosed:
a. the accounting policy adopted for government
grants; 1 1 1 1 1 1
b. the methods of presentation adopted in the
financial statements; 1 1 1 1 1 1
c. the nature and extent of government grants
recognised in the financial statements; 1 1 1 1 1 1
d. an indication of other forms of government
assistance from which the entity has directly
benefited; and 1 1 1 1 1 1
e. any unfulfilled conditions and other
contingencies attaching to government assistance
that has been recognised. 1 1 1 1 1 1
220 IAS 41.57 Does the entity disclose the following information
related to agricultural activity covered by IAS 41:
a. the nature and extent of government grants
recognised in the financial statements; 1 1 1 1 1 1
b. any unfulfilled conditions and other
contingencies attaching to government grants; 1 1 1 1 1 1
c. significant decreases expected in the level of
government grants. 1 1 1 1 1 1
HYPERINFLATION
221 IAS 29.39 Have the following disclosures been made:
a. the fact that the financial statements and the
corresponding figures for previous periods have
been restated for the changes in the general
purchasing power of the functional currency and,
as a result, are stated in terms of the measuring unit
current at the balance sheet date; 1 1 1 1 1 1
b. whether the financial statements are based on a
historical cost approach or a current cost approach;
and 1 1 1 1 1 1
c. the identity and level of the price index at the
balance sheet date and the movement in the index
during the current and the previous reporting 1 1 1 1 1 1
221 IAS 29.9 period. gain or loss on the net monetary position
Has the
(which results from the application of IAS 29.27-
28) been disclosed separately. 1 1 1 1 1 1
Applying the restatement approach under IAS
29 Financial Reporting in Hyperinflationary
Economies (IFRIC 7)
223 IAS 1.117 Does the entity disclose its accounting policy in
relation to its application of the restatement
approach. 1 1 1 1 1 1
IMPAIRMENT OF ASSETS
224 IAS 36.126 Has the following information been disclosed for
each class of assets:
a. the amount of impairment losses recognised in
profit or loss during the period and the line item(s)
of the Income Statement in which those impairment
losses are included; 1 1 1 1 1 1
b. the amount of reversals of impairment losses
recognised in profit or loss during the period and
the line item(s) of the Income Statement in which
those impairment losses are reversed; 1 1 1 1 1 1
c. the amount of impairment losses on revalued
assets recognised directly in equity during the
period; and 1 1 1 1 1 1
Page 47 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
d. the amount of reversals of impairment losses on
revalued assets recognised directly in equity during
the period. 1 1 1 1 1 1
225 IAS 36.129 If the entity reports segment information (either in
accordance with IAS 8 or in accordance with IFRS
8) does it disclose the following for each reportable
segment (in case IAS 8 is applied: this information
should be based on an entity’s primary reporting
format):
a. the amount of impairment losses recognised in
profit or loss and directly in equity during the
period; and 1 1 1 1 1 1
b. the amount of reversals of impairment losses
recognised in profit or loss and directly in equity
during the period. 1 1 1 1 1 1
226 IAS 36.130 If an impairment loss for an individual asset,
including goodwill, or a cash-generating unit is
recognised or reversed during the period and is
material, does the entity disclose:
a. the events and circumstances that led to the
recognition or reversal of the impairment loss; 1 1 1 1 1 1
b. the amount of the impairment loss recognised or
reversed; 1 1 1 1 1 1
c. for an individual asset:
– the nature of the asset; and 1 1 1 1 1 1
– the reportable segment to which the asset belongs
(if IFRS 8 is being applied: this information should
be based on the entity’s primary reporting format). 1 1 1 1 1 1
d. for a cash-generating unit:
– a description of the cash-generating unit (such as
whether it is a product line, a plant, a business
operation, a geographical area, or a reportable
segment as defined in IFRS 8); 1 1 1 1 1 1
– the amount of the impairment loss recognised or
reversed by class of assets and by reportable
segment (in case IFRS 8 is applied: this
information should be based on the entity’s primary
reporting format); and 1 1 1 1 1 1
– if the aggregation of assets for identifying the
cash-generating unit has changed since the previous
estimate of the cash-generating unit’s recoverable
amount, the entity should disclose a description of
the current and former way of aggregating assets
and the reasons for changing the way the cash-
generating unit is identified; 1 1 1 1 1 1
e. whether the recoverable amount of the asset
(cash-generating unit) is its fair value less costs to
sell or its value in use; 1 1 1 1 1 1
f. if recoverable amount is fair value less costs to
sell, the basis used to determine fair value less costs
to sell (such as whether fair value was determined
by reference to an active market); and 1 1 1 1 1 1
g. if recoverable amount is value in use, the
discount rate(s) used in the current estimate and
previous estimate of value in use. 1 1 1 1 1 1
227 IAS 36.131 Does the entity disclose the following information
for impairment losses and the aggregate reversals of
impairment losses recognised for which no
information is disclosed in accordance with IAS
36.130 above:
a. the main classes of assets affected by impairment
losses and the main classes of assets affected by
reversals of impairment losses; and 1 1 1 1 1 1
b. the main events and circumstances that led to the
recognition of these impairment losses and
reversals of impairment losses. 1 1 1 1 1 1
228 IAS 36.132 Does the entity disclose the assumptions used to
determine the recoverable amount of assets (cash-
generating units) during the period. 1 1 1 1 1 1
Page 48 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
229 IAS 36.134 Does the entity disclose the following information
for each cash-generating unit (group of units) for
which the carrying amount of goodwill or
intangible assets with indefinite useful lives
allocated to that unit (group of units) is significant
in comparison with the entity’s total carrying
amount of goodwill or intangible assets with
indefinite useful lives: of goodwill allocated to the
a. the carrying amount
unit (group of units); 1 1 1 1 1 1
b. the carrying amount of intangible assets with
indefinite useful lives allocated to the unit (group of
units); 1 1 1 1 1 1
c. the basis on which the unit’s (group of units’)
recoverable amount has been determined (ie value
in use or fair value less costs to sell); 1 1 1 1 1 1
d. if the unit’s (group of units’) recoverable amount
is based on value in use:
– a description of each key assumption on which
management has based its cash flow projections for
the period covered by the most recent
budgets/forecasts; 1 1 1 1 1 1
– a description of management’s approach to
determining the value(s) assigned to each key
assumption, whether those value(s) reflect past
experience or, if appropriate, are consistent with
external sources of information, and, if not, how
and why they differ from past experience or
external sources of information; 1 1 1 1 1 1
– the period over which management has projected
cash flows based on financial budgets/forecasts
approved by management and, when a period
greater than five years is used for a cash-generating
unit (group of units), an explanation of why that
longer period is justified; 1 1 1 1 1 1
– the growth rate used to extrapolate cash flow
projections beyond the period covered by the most
recent budgets/forecasts; 1 1 1 1 1 1
– the justification for using any growth rate that
exceeds the long-term average growth rate for the
products, industries, or country or countries in
which the entity operates, or for the market to
which the unit (group of units) is dedicated; and ` 1 ` 1 ` 1 ` 1 ` 1 ` 1
– the discount rate(s) applied to the cash flow
projections; 1 1 1 1 1 1
e. if the unit’s (group of units’) recoverable amount
is based on fair value less costs to sell, the
methodology used to determine fair value less costs
to sell. If fair value less costs to sell is not
determined using an observable market price for
the unit (group of units), the following information
shall also be disclosed:
– a description of each key assumption on which
management has based its determination of fair
value less costs to sell; and 1 1 1 1 1 1
– a description of management’s approach to
determining the value(s) assigned to each key
assumption, whether those value(s) reflect past
experience or, if appropriate, are consistent with
external sources of information, and, if not, how
and why they differ from past experience or
external sources of information; and 1 1 1 1 1 1
f. if a reasonably possible change in a key
assumption on which management has based its
determination of the unit’s (group of units’)
recoverable amount would cause the unit’s (group
of units’) carrying amount to exceed its recoverable
– the amount by which the unit’s (group of units’)
amount:
recoverable amount exceeds its carrying amount; 1 1 1 1 1 1
– the value assigned to the key assumption; and 1 1 1 1 1 1
Page 49 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
– the amount by which the value assigned to the
key assumption must change, after incorporating
any consequential effects of that change on the
other variables used to measure recoverable
amount, in order for the unit’s (group of units’)
recoverable amount to be equal to its carrying 1 1 1 1 1 1
230 IAS 36.135 amount.
Where some or all of the carrying amount of
goodwill or intangible assets with indefinite useful
lives is allocated across multiple cash-generating
units (groups of units), and the amount so allocated
to each unit (group of units) is not significant in
comparison with the entity’s total carrying amount
of goodwill or intangible assets with indefinite
useful lives, does the entity disclose:
a. that fact; and 1 1 1 1 1 1
b. the aggregate carrying amount of goodwill or
intangible assets with indefinite useful lives
allocated to those units (groups of units). 1 1 1 1 1 1
231 IAS 36.135 Where the recoverable amounts of any of those
units (groups of units) are based on the same key
assumption(s) and the aggregate carrying amount
of goodwill or intangible assets with indefinite
useful lives allocated to them is significant in
comparison with the entity’s total carrying amount
of goodwill or intangible assets with indefinite
useful lives, does the entity disclose:
a. that fact; 1 1 1 1 1 1
b. the aggregate carrying amount of goodwill
allocated to those units (groups of units); 1 1 1 1 1 1
c. the aggregate carrying amount of intangible
assets with indefinite useful lives allocated to those
units (groups of units); 1 1 1 1 1 1
d. a description of the key assumption(s); 1 1 1 1 1 1
e. a description of management’s approach to
determining the value(s) assigned to the key
assumption(s), whether those value(s) reflect past
experience or, if appropriate, are consistent with
external sources of information, and, if not, how
and why they differ from past experience or
external sources of information; and 1 1 1 1 1 1
f. if a reasonably possible change in the key
assumption(s) would cause the aggregate of the
units’ (groups of units’) carrying amounts to exceed
the aggregate of their recoverable amounts:
– the amount by which the aggregate of the units’
(groups of units’) recoverable amounts exceeds the
aggregate of their carrying amounts; 1 1 1 1 1 1
– the value(s) assigned to the key assumption(s); 1 1 1 1 1 1
– the amount by which the value(s) assigned to the
key assumption(s) must change, after incorporating
any consequential effects of the change on the other
variables used to measure recoverable amount, in
order for the aggregate of the units’ (groups of
units’) recoverable amounts to be equal to the
aggregate of their carrying amounts. 1 1 1 1 1 1
INTANGIBLE ASSETS
232 IAS 38.118 Has the following information been disclosed for
each class of intangible assets, distinguishing
between internally generated intangible assets and
other intangible assets:
a. whether the useful lives are indefinite or finite
and, if finite the useful lives or the amortisation 1 1 1 1 1 1
b. the amortisation methods used for intangible
assets with finite useful lives; 1 1 1 1 1 1
c. the gross carrying amount and the accumulated
amortisation (aggregated with accumulated
impairment losses):
– at the beginning of the period; and 1 1 1 1 1 1
– at the end of the period; 1 1 1 1 1 1
Page 50 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
d. the line item(s) of the Income Statement in
which any amortisation of intangible assets is 1 1 1 1 1 1
e. a reconciliation of the carrying amount at the
beginning and end of the period showing:
– additions, indicating separately those from
internal development, those acquired separately,
and those acquired through business combinations; 1 1 1 1 1 1
– assets classified as held for sale or included in a
disposal group classified as held for sale in
accordance with IFRS 5 and other disposals; 1 1 1 1 1 1
– increases or decreases during the period resulting
from revaluations and from impairment losses
recognised or reversed directly in equity in
accordance with IAS 36, if any; 1 1 1 1 1 1
– impairment losses recognised in profit or loss
during the period in accordance with IAS 36, if 1 1 1 1 1 1
– impairment losses reversed in profit or loss
during the period in accordance with IAS 36, if 1 1 1 1 1 1
– any amortisation recognised during the period; 1 1 1 1 1 1
– net exchange differences arising on the
translation of the financial statements into the
presentation currency, and on the translation of a
foreign operation into the presentation currency of
the reporting entity; and 1 1 1 1 1 1
– other changes in the carrying amount during the
period. 1 1 1 1 1 1
233 IAS 38.122 Do the financial statements disclose:
a. for an intangible asset assessed as having an
indefinite useful life, the carrying amount of that
asset and reasons supporting the assessment of an
indefinite useful life; 1 1 1 1 1 1
b. in giving these reasons (see (a) above), does the
entity describe the factor(s) that played a significant
role in determining that the asset has an indefinite
useful life; 1 1 1 1 1 1
c. for any individual intangible asset that is material
to the entity’s financial statements:
– a description; 1 1 1 1 1 1
– the carrying amount; and 1 1 1 1 1 1
– remaining amortisation period; 1 1 1 1 1 1
d. for intangible assets acquired by way of a
government grant and initially recognised at fair
– the fair value initially recognised for these assets; 1 1 1 1 1 1
– their carrying amount; and 1 1 1 1 1 1
– whether they are measured after recognition
under the cost model or the revaluation model; 1 1 1 1 1 1
e. the existence and carrying amounts of intangible
assets whose title is restricted and the carrying
amounts of intangible assets pledged as security for
liabilities; and 1 1 1 1 1 1
f. the amount of contractual commitments for the
acquisition of intangible assets. 1 1 1 1 1 1
Revalued intangible assets
234 IAS 38.124 If intangible assets are accounted for at revalued
amounts, has the entity disclosed the following
information:
a. by class of intangible assets:
– the effective date of the revaluation; 1 1 1 1 1 1
– the carrying amount of revalued intangible assets;
and 1 1 1 1 1 1
– the carrying amount that would have been
recognised had the revalued class of intangible
assets been measured after recognition using the
cost model in IAS 38.74; 1 1 1 1 1 1
b. the amount of the revaluation surplus that relates
to intangible assets at the beginning and end of the
period, indicating the changes during the period
and any restrictions on the distribution of the
balance to shareholders; and 1 1 1 1 1 1
Page 51 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
c. the method and significant assumptions applied
in estimating the assets’ fair values. 1 1 1 1 1 1
Research and development
235 IAS 38.126 Does the entity disclose the aggregate amount of
research and development expenditure recognised
as an expense during the period. 1 1 1 1 1 1
Other information
236 IAS 38.128 Does the entity disclose the following information:
a. a description of any fully amortised intangible
asset that is still in use; and 1 1 1 1 1 1
b. a brief description of significant intangible assets
controlled by the entity but not recognised as assets
because they did not meet the recognition criteria of
IAS 38 or because they were acquired or generated
before the version of IAS 38 Intangible Assets
issued in 1998 was effective. 1 1 1 1 1 1
INTANGIBLE ASSETS - GOODWILL
Goodwill
237 IFRS 3.74, Has the entity disclosed the following information
IFRS 3.75 that enables users of its financial statements to
evaluate changes in the carrying amount of
goodwill during the period:
a. the gross amount and accumulated impairment
losses at the beginning of the period; 1 1 1 1 1 1
b. additional goodwill recognised during the period
except goodwill included in a disposal group that,
on acquisition, meets the criteria to be classified as
held for sale in accordance with IFRS 5; 1 1 1 1 1 1
c. adjustments resulting from the subsequent
recognition of deferred tax assets during the period; 1 1 1 1 1 1
d. goodwill included in a disposal group classified
as held for sale in accordance with IFRS 5 and
goodwill derecognised during the period without
having previously been included in a disposal group
classified as held for sale; 1 1 1 1 1 1
e. impairment losses recognised during the period; 1 1 1 1 1 1
f. net exchange differences arising during the 1 1 1 1 1 1
g. any other changes in the carrying amount during
the period; and 1 1 1 1 1 1
h. the gross amount and accumulated impairment
losses at the end of the period. 1 1 1 1 1 1
238 IAS 36.133 Where the initial allocation of goodwill acquired in
a business combination was incomplete at reporting
date, therefore goodwill was not allocated to a cash
generating unit (group of units) at the reporting
date, does the entity disclose:
a. the amount of the unallocated goodwill; and 1 1 1 1 1 1
b. the reasons why that amount remains 1 1 1 1 1 1
INCOME TAXES
IAS 12.78 Where exchange differences on deferred foreign
tax liabilities or assets are recognised in the Income
Statement, such differences may be classified as
deferred tax expense (income) if that presentation is
considered to be the most useful to financial
statement users.
239 IAS 12.79, Are the following major components of tax expense
IAS 12.80 (income) disclosed separately:
a. current tax expense (income); 1 1 1 1 1 1
b. any adjustments recognised in the period for
current tax of prior periods; 1 1 1 1 1 1
c. the amount of deferred tax expense (income)
relating to the origination and reversal of temporary
differences; 1 1 1 1 1 1
d. the amount of deferred tax expense (income)
relating to changes in tax rates or the imposition of
new taxes; 1 1 1 1 1 1
e. the amount of the benefit arising from a
previously unrecognised tax loss, tax credit or
temporary difference of a prior period that is used
to reduce current tax expense; 1 1 1 1 1 1
Page 52 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
f. the amount of the benefit from a previously
unrecognised tax loss, tax credit or temporary
difference of a prior period that is used to reduce
deferred tax expense; 1 1 1 1 1 1
g. deferred tax expense arising from the write-
down, or reversal of a previous write-down, of a
deferred tax asset where it is no longer probable
that sufficient taxable profit will be available to
allow the benefit of part or all of that deferred tax
asset to be utilised (see IAS 12.56); and 1 1 1 1 1 1
h. the amount of tax expense (income) relating to
those changes in accounting policies and errors that
are included in profit or loss in accordance with
IAS 8 because they cannot be accounted for
retrospectively. 1 1 1 1 1 1
240 IAS 12.81 Has the following information been disclosed
separately:
a. the aggregate current and deferred tax relating to
items charged or credited to equity; 1 1 1 1 1 1
b. an explanation of the relationship between tax
expense (income) and accounting profit or loss in
either or both of the following forms:
– a numerical reconciliation between tax expense
(income) and the product of accounting profit
multiplied by the applicable tax rate(s), disclosing
also the basis on which the applicable tax rate(s) is
(are) computed; or 1 1 1 1 1 1
– a numerical reconciliation between the average
effective tax rate and the applicable tax rate,
disclosing also the basis on which the applicable
tax rate is computed; 1 1 1 1 1 1
c. an explanation of changes in the applicable tax
rate(s) compared to the previous accounting period; 1 1 1 1 1 1
d. in relation to deductible temporary differences,
unused tax losses, and unused tax credits for which
no deferred tax asset is recognised in the Balance
Sheet:
– the amount; and 1 1 1 1 1 1
– expiry date, if any. 1 1 1 1 1 1
e. the aggregate amount of temporary differences
associated with investments in subsidiaries,
branches and associates and interests in joint
ventures, for which deferred tax liabilities have not
been recognised (see IAS 12.39 for additional 1 1 1 1 1 1
guidance); type of temporary difference, and for
f. for each
each type of unused tax losses and unused tax
– the amount of the deferred tax assets and
liabilities recognised in the Balance Sheet for each
period presented; and 1 1 1 1 1 1
– the amount of the deferred tax income or expense
recognised in the Income Statement, if this is not
apparent from the changes in the amounts
recognised in the Balance Sheet; 1 1 1 1 1 1
g. for discontinued operations, the tax expense
relating to:
– the gain or loss on discontinuance; and 1 1 1 1 1 1
– the profit or loss from the discontinuing operation
for the period, together with the corresponding
amounts for each prior period presented; and 1 1 1 1 1 1
h. the amount of income tax consequences of
dividends to shareholders of the entity that were
proposed or declared before the financial
statements were authorised for issue, but are not
recognised as a liability in the financial statements. 1 1 1 1 1 1
241 IAS 12.87 Has the amount of unrecognised deferred tax
liabilities associated with investments in
subsidiaries, branches and associates and interests
in joint ventures, for which deferred tax liabilities
have not been recognised, been disclosed when this
disclosure does not require undue cost or effort. 1 1 1 1 1 1
Page 53 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
242 IAS 12.82 Has the following information been disclosed when
(1) the utilisation of the deferred tax asset is
dependent on future taxable profits in excess of the
profits arising from the reversal of existing taxable
temporary differences and (2) the entity has
suffered a loss in either the current or preceding
period in the tax jurisdiction to which the deferred
tax asset relates:
a. the amount of a deferred tax asset; and 1 1 1 1 1 1
b. the nature of the evidence supporting its
recognition. 1 1 1 1 1 1
243 IAS 12.82 In some jurisdictions, income taxes are payable at a
A higher or lower rate if part or all of the net profit or
retained earnings is paid out as a dividend to
shareholders of the entity. In some other
jurisdictions, income taxes may be refundable or
payable if part or all of the net profit or retained
earnings is paid out as a dividend to shareholders of
the entity. In these circumstances, does the entity
IAS 12.87 disclose:
a. the nature of the potential income tax
A consequences that would result from the payment
of dividends to its shareholders, including the
important features of the income tax systems and
the facts that will affect the amount of the potential
income tax consequences of dividends; 1 1 1 1 1 1
b. the amounts of the potential income tax
consequences determinable without undue cost or
effort; and 1 1 1 1 1 1
c. any potential income tax consequences that
cannot be determined without undue cost or effort. 1 1 1 1 1 1
244 IAS 12.87 It may sometimes require undue cost or effort to
B compute the total amount of the potential income
tax consequences that would result from the
payment of dividends to shareholders, however in
such circumstances it may be possible to compute
some portions of the total, for example:
a. if in a consolidated group, a parent and some of
its subsidiaries (1) have paid income taxes at a
higher rate on undistributed profits and (2) are
aware of the amount that would be refunded on the
payment of future dividends to shareholders from
consolidated retained earnings, does the entity
disclose the refundable amount; 1 1 1 1 1 1
b. if applicable, does the entity disclose that there
are additional potential income tax consequences
that cannot be determined without undue cost or
effort; and 1 1 1 1 1 1
c. do the parent’s separate financial statements, if
any, disclose the potential income tax consequences
relating to the parent’s retained earnings. 1 1 1 1 1 1
245 IAS 12.88 Has the enterprise disclosed any tax-related
contingent liabilities and contingent assets in
accordance with IAS 37. 1 1 1 1 1 1
IAS 12.88 Contingent liabilities and contingent assets may
arise, for example, from unresolved disputes with
the taxation authorities. Similarly, where changes
in tax rates or tax laws are enacted or announced
after the balance sheet date, an enterprise discloses
any significant effect of those changes on its
current and deferred tax assets and liabilities (see
IAS 10).
INTERESTS IN JOINT VENTURES
246 IAS 31.42 Does the entity classify its interests in jointly
controlled entities as ‘held for sale’ and account for
it in accordance with IFRS 5 where:
a. its carrying amount will be recovered principally
through a sale transaction rather than through
continuing use; and 1 1 1 1 1 1
b. it must be available for immediate sale in its
present condition and its sale must be ‘highly
probable’. 1 1 1 1 1 1
Page 54 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
247 IAS 31.54 Does the entity (venturer) disclose the aggregate
amount of the following contingent liabilities,
unless the probability of loss is remote, separately
from the amount of other contingent liabilities:
a. any contingent liabilities that the venturer has
incurred in relation to its interests in joint ventures
and its share in each of the contingent liabilities
that have been incurred jointly with other venturers; 1 1 1 1 1 1
b. its share of the contingent liabilities of the joint
ventures themselves for which it is contingently
liable; and 1 1 1 1 1 1
c. those contingent liabilities that arise because the
venturer is contingently liable for the liabilities of
the other venturers of a joint venture. 1 1 1 1 1 1
248 IAS 31.55 Does the entity (venturer) disclose the aggregate
amount of the following commitments in respect of
its interests in joint ventures separately from other
commitments:
a. any capital commitments of the venturer in
relation to its interests in joint ventures and its
share in the capital commitments that have been
incurred jointly with other venturers; and 1 1 1 1 1 1
b. its share of the capital commitments of the joint
ventures themselves. 1 1 1 1 1 1
249 IAS 31.56 Does the entity (venturer) disclose:
a. a listing of interests in significant joint ventures; 1 1 1 1 1 1
b. a description of interests in significant joint
ventures; and 1 1 1 1 1 1
c. the proportion of ownership interest held in
jointly controlled entities. 1 1 1 1 1 1
250 IAS 31.56 If the entity (venturer) recognises its interests in
jointly controlled entities using the line-by-line
reporting format for proportionate consolidation or
the equity method, does it disclose the aggregate
amounts related to its interests in joint ventures of
each of:
a. current assets; 1 1 1 1 1 1
b. long-term assets; 1 1 1 1 1 1
c. current liabilities; 1 1 1 1 1 1
d. long-term liabilities; 1 1 1 1 1 1
e. income; and 1 1 1 1 1 1
f. expenses. 1 1 1 1 1 1
251 IAS 31.57 Does the entity (venturer) disclose the method it
uses to recognise its interests in jointly controlled
INVENTORIES
252 IAS 2.36 Is the following information disclosed:
a. the accounting policies adopted in measuring
inventories, including the cost formula used; 1 1 1 1 1 1
IAS 2.37 b. the total carrying amount of inventories and the
carrying amount in classifications appropriate to
the entity 1 1 1 1 1 1
Common classifications of inventories are
merchandise, production supplies, materials, work
in progress and finished goods. The inventories of
a service provider may be described as work in
progress.
c. the carrying amount of inventories carried at fair
value less costs to sell; 1 1 1 1 1 1
d. the amount of inventories recognised as an
expense during the period; 1 1 1 1 1 1
e. the amount of any write-down of inventories
recognised as an expense in the period; 1 1 1 1 1 1
f. the amount of any reversal of any write-down
that is recognised as a reduction in the amount of
inventories recognised as expense in the period; 1 1 1 1 1 1
g. the circumstances or events that led to the
reversal of a write-down of inventories; and 1 1 1 1 1 1
h. the carrying amount of inventories pledged as
security for liabilities. 1 1 1 1 1 1
INVESTMENT PROPERTY
Page 55 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
IAS 40.74 The disclosures set out below apply in addition to
those in IAS 17. In accordance with IAS 17, the
owner of an investment property provides lessors’
disclosures about leases into which it has entered.
In accordance with IAS 17, an entity that holds an
investment property under a finance or operating
lease provides lessees’ disclosures for finance
leases and lessors’ disclosures for any operating
leases into which it has entered.
Fair value model and cost model
253 IAS 40.75 Does the entity disclose the following:
a. whether it applies the fair value model or the cost
model; 1 1 1 1 1 1
b. if it applies the fair value model, whether, and in
what circumstances, property interests held under
operating leases are classified and accounted for as
investment property; 1 1 1 1 1 1
c. when classification is difficult, the criteria the
entity uses to distinguish investment property from
owner-occupied property and from property held
for sale in the ordinary course of business; 1 1 1 1 1 1
d. the methods and significant assumptions applied
in determining the fair value of investment 1 1 1 1 1 1
e. a statement whether the determination of fair
value was supported by market evidence or was
more heavily based on other factors (which the
entity shall disclose) because of the nature of the
property and lack of comparable market data; 1 1 1 1 1 1
f. the extent to which the fair value of investment
property (as measured or disclosed in the financial
statements) is based on a valuation by an
independent valuer who holds a recognised and
relevant professional qualification and who has
recent experience in the location and category of
the investment property being valued; 1 1 1 1 1 1
g. if there has been no valuation by an independent
valuer (as described in f. above), that fact; 1 1 1 1 1 1
h. the amounts included in the profit or loss for:
– rental income from investment property; 1 1 1 1 1 1
– direct operating expenses (including repairs and
maintenance) arising from investment property that
generated rental income during the period; and 1 1 1 1 1 1
– direct operating expenses (including repairs and
maintenance) arising from investment property that
did not generate rental income during the period; 1 1 1 1 1 1
– the cumulative change in fair value recognised in
profit or loss on a sale of investment property from
a pool of assets in which the cost model is used into
a pool in which the fair value model is used (see
IAS 40.32C); and 1 1 1 1 1 1
i. the existence and amounts of restrictions on the
realisability of investment property or the
remittance of income and proceeds of disposal; and 1 1 1 1 1 1
j. contractual obligations to purchase, construct or
develop investment property or for repairs,
maintenance or enhancements. 1 1 1 1 1 1
Fair value model
254 IAS 40.76 If the entity applies the fair value model, does it
also disclose a reconciliation of the carrying
amount of investment property at the beginning and
end of the period showing the following:
a. additions, disclosing separately those additions
resulting from acquisitions and those resulting from
subsequent expenditure recognised in the carrying
amount of an asset; 1 1 1 1 1 1
b. additions resulting from acquisitions through
business combinations; 1 1 1 1 1 1
c. assets classified as held for sale or included in a
disposal group classified as held for sale in
accordance with IFRS 5 and other disposals; 1 1 1 1 1 1
Page 56 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
d. net gains or losses from fair value adjustments; 1 1 1 1 1 1
e. the net exchange differences arising on the
translation of the financial statements into a
different presentation currency, and on the
translation of a foreign operation into the
presentation currency of the reporting entity; 1 1 1 1 1 1
f. transfers to and from inventories and owner-
occupied property; and 1 1 1 1 1 1
g. other changes. 1 1 1 1 1 1
255 IAS 40.77 When a valuation obtained for an investment
property is adjusted significantly for the purpose of
the financial statements, does the entity disclose a
reconciliation between the valuation obtained and
the adjusted valuation included in the financial
statements, showing separately:
a. the aggregate amount of any unrecognised lease
obligations that have been added back; and 1 1 1 1 1 1
b. any other significant adjustments. 1 1 1 1 1 1
256 IAS 40.78 In the exceptional cases when the entity’s policy is
to account for investment properties at fair value,
but because of the lack of a reliable fair value, it
measures investment property at cost less any
accumulated depreciation and any accumulated
impairment losses, does the entity disclose:
a. a reconciliation – relating to that investment
property separately – of the carrying amount at the
beginning and end of the period; 1 1 1 1 1 1
b. a description of the investment property; 1 1 1 1 1 1
c. an explanation of why fair value cannot be
determined reliably; 1 1 1 1 1 1
d. if possible, the range of estimates within which
fair value is highly likely to lie; and 1 1 1 1 1 1
e. on disposal of investment property not carried at
fair value:
– the fact that the entity has disposed of investment
property not carried at fair value; 1 1 1 1 1 1
– the carrying amount of that investment property
at the time of sale; and 1 1 1 1 1 1
– the amount of gain or loss recognised. 1 1 1 1 1 1
Transition
257 IAS 40.80 If an entity that previously applied IAS 40 (2000)
now elects for the first time to classify and account
for some or all eligible property interests held under
operating leases as investment property, does it;
a. recognise the effect of that election as an
adjustment to the opening balance of retained
earnings for the period in which the election is first
made; 1 1 1 1 1 1
b. adjust the opening balance of retained earnings
from the earliest period presented, for which fair
value was disclosed publicly, and restate
comparatives for those periods; and 1 1 1 1 1 1
c. state that comparatives are not restated in
circumstances where the entity has not publicly
disclosed the fair value of those interests in earlier
periods. 1 1 1 1 1 1
IAS 40.81 IAS 40 requires a treatment different from that
required by IAS 8 Accounting Policies, Changes in
Accounting Estimates and Errors . IAS 8 requires
comparative information to be restated unless such
restatement would require undue cost or effort.
Cost model
258 IAS 40.79 If the entity applies the cost model, does it disclose:
a. the depreciation methods used; 1 1 1 1 1 1
b. the useful lives or the depreciation rates used; 1 1 1 1 1 1
c. the gross carrying amount and the accumulated
depreciation (aggregated with accumulated
impairment losses) at the beginning and end of the
period; 1 1 1 1 1 1
Page 57 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
d. a reconciliation of the carrying amount of
investment property at the beginning and end of the
period, showing the following:
– additions, disclosing separately those additions
resulting from acquisitions and those resulting from
subsequent expenditure recognised as an asset; 1 1 1 1 1 1
– additions resulting from acquisitions through
business combinations; 1 1 1 1 1 1
– assets classified as held for sale or included in a
disposal group classified as held for sale in
accordance with IFRS 5 and other disposals; and 1 1 1 1 1 1
– depreciation; 1 1 1 1 1 1
– the amount of impairment losses recognised, and
the amount of impairment losses reversed, during
the period in accordance with IAS 36; 1 1 1 1 1 1
– the net exchange differences arising on the
translation of the financial statements into a
different presentation currency, and on translation
of a foreign operation into the presentation
currency of the reporting entity: 1 1 1 1 1 1
– transfers to and from inventories and owner-
occupied property; and 1 1 1 1 1 1
– other changes; 1 1 1 1 1 1
e. the fair value of investment property; and 1 1 1 1 1 1
f. in the exceptional cases (see IAS 40.53 for
guidance), when the entity cannot determine the
fair value of the investment property reliably, has
the entity disclosed:
– a description of the investment property; 1 1 1 1 1 1
– an explanation of why fair value cannot be
determined reliably; and 1 1 1 1 1 1
– if possible, the range of estimates within which
fair value is highly likely to lie. 1 1 1 1 1 1
Transition
IAS 40.83 IAS 8 applies to any change in accounting policies
that is made when an entity first applies this
Standard and chooses to use the cost model. The
effect of the change in accounting policies includes
the reclassification of any amount held in
revaluation surplus for investment property.
INVESTMENTS IN ASSOCIATES
259 IAS 28.14 Does the entity classify the investment in associate
as ‘held for sale' and account for it in accordance
with IFRS 5 where:
a. its carrying amount will be recovered principally
through a sale transaction rather than through
continuing use; and 1 1 1 1 1 1
b. it must be available for immediate sale in its
present condition and its sale must be ‘highly
probable’. 1 1 1 1 1 1
260 IAS 28.37 Has the entity disclosed the following:
a. the fair value of investments in associates for
which there are published price quotations; 1 1 1 1 1 1
b. summarised financial information of associates,
including the aggregated amounts of assets,
liabilities, revenues and profit or loss; 1 1 1 1 1 1
c. the reasons why the investor concludes that it has
significant influence in situations where it holds
directly, or indirectly through subsidiaries less than
20 per cent of the voting or potential voting power
of the investee; 1 1 1 1 1 1
d. the reasons why the investor concludes that it
does not have significant influence in situations
where it holds directly, or indirectly through
subsidiaries, 20 per cent or more of the voting or
potential voting power of the investee; 1 1 1 1 1 1
Page 58 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
e. the reporting date of the financial statements of
an associate, when such financial statements are
used in applying the equity method and are as of a
reporting date or for a period that is different from
that of the investor, and the reason for using a
different reporting date or different period; 1 1 1 1 1 1
f. the nature and extent of any significant
restrictions (eg resulting from borrowing
arrangements or regulatory requirements) on the
ability of associates to transfer funds to the investor
in the form of cash dividends, repayment of loans 1 1 1 1 1 1
g. advances;
or the unrecognised share of losses of an associate,
both for the period and cumulatively, if an investor
has discontinued recognition of its share of losses
of an associate; 1 1 1 1 1 1
h. the fact that an associate is not accounted for
using the equity method in accordance with IAS
28.13; and 1 1 1 1 1 1
i. summarised financial information of associates,
either individually or in groups, which are not
accounted for using the equity method, including
the amounts of total assets, total liabilities, revenues
and profit or loss. 1 1 1 1 1 1
261 IAS 28.38 Have investments in associates accounted for using
the equity method been:
a. classified as non-current assets; and 1 1 1 1 1 1
b. disclosed as a separate item in the Balance Sheet. 1 1 1 1 1 1
262 IAS 28.38 Has the entity’s share of profit or loss of associates
accounted for using the equity method been
disclosed as a separate item in the Income
Statement. 1 1 1 1 1 1
263 IAS 28.38 Has the entity’s share of any discontinued
operations of such associates accounted for using
the equity method been disclosed separately. 1 1 1 1 1 1
264 IAS 28.39 Has the investor’s share of changes recognised
directly in the associate’s equity been disclosed in
the Statement of Changes in Equity required by 1 1 1 1 1 1
265 IAS 28.40 IAS 1. entity, in accordance with IAS 37,
Does the
disclose the following information:
a. its share of the contingent liabilities of an
associate incurred jointly with other investors; and 1 1 1 1 1 1
b. those contingent liabilities that arise because the
investor is severally liable for all or part of the
liabilities of the associate. 1 1 1 1 1 1
LEASE DISCLOSURES BY LESSEES
Finance leases
IAS 17.31 The requirements on disclosure under the following
standards also apply to assets acquired under
finance leases:
IAS 17.32 a. IAS 16 Property, Plant and Equipment;
b. IAS 32 Financial Instruments: Presentation;
c. IAS 36 Impairment of Assets;
d. IAS 38 Intangible Assets;
e. IAS 40 Investment Property; and
f. IAS 41 Agriculture.
266 IAS 17.31 Has the following information been disclosed by
the entity for finance leases (in which it is the
a. for each class of asset, the net carrying amount at
the balance sheet date; 1 1 1 1 1 1
b. a reconciliation between the total of minimum
lease payments at the balance sheet date, and their
present value. 1 1 1 1 1 1
c. the total of future minimum lease payments at
the balance sheet date, and their present value, for
each of the following periods
– not later than one year; 1 1 1 1 1 1
– later than one year and not later than five years;
and 1 1 1 1 1 1
– later than five years; 1 1 1 1 1 1
Page 59 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
d. contingent rents recognised as an expense in the
period; 1 1 1 1 1 1
e. the total of future minimum sublease payments
expected to be received under non-cancellable
subleases at the balance sheet date; and 1 1 1 1 1 1
f. a general description of the lessee’s material
leasing arrangements including, but not limited to,
the following: 1 1 1 1 1 1
– the basis on which contingent rent payable is
determined; 1 1 1 1 1 1
– the existence and terms of renewal or purchase
options and escalation clauses; and 1 1 1 1 1 1
– restrictions imposed by lease arrangements, such
as those concerning dividends, additional debt and
further leasing. 1 1 1 1 1 1
Operating leases
IAS 17.35 The requirements on disclosure under IAS 32 and,
if applicable, IFRS 7 also apply to operating leases.
267 IAS 17.35 Has the following information been disclosed by
the entity for operating leases (in which it is the
a. the total of future minimum lease payments
under non-cancellable operating leases for each of
the following periods:
– not later than one year; 1 1 1 1 1 1
– later than one year and not later than five years; 1 1 1 1 1 1
– later than five years; 1 1 1 1 1 1
b. the total of future minimum sublease payments
expected to be received under non-cancellable
subleases at the balance sheet date; 1 1 1 1 1 1
c. lease and sublease payments recognised as an
expense in the period, with separate amounts for: 1 1 1 1 1 1
– minimum lease payments; 1 1 1 1 1 1
– contingent rents; and 1 1 1 1 1 1
– sublease payments; 1 1 1 1 1 1
d. a general description of the lessee’s significant
leasing arrangements including, but not limited to,
the following: 1 1 1 1 1 1
– the basis on which contingent rent payable is
determined;
– the existence and terms of renewal or purchase
options and escalation clauses; and
– restrictions imposed by lease arrangements, such
as those concerning dividends, additional debt and
further leasing.
Sale and leaseback transactions
268 IAS 17.65 Does the description of material leasing
arrangements include disclosure of unique or
unusual provisions of the agreement or terms of the
sale and leaseback transactions. 1 1 1 1 1 1
IAS 17.66 Sale and leaseback transactions may trigger the
separate disclosure criteria in IAS 1. 1 1 1 1 1 1
Substance of transactions involving the legal
form of a lease
269 SIC-27.10, All aspects of an arrangement that does not, in
SIC-27.11 substance, involve a lease under IAS 17 shall be
considered in determining the appropriate
disclosures that are necessary to understand the
arrangement and the accounting treatment adopted.
When the entity has entered into arrangements that
are leases in form but not in substance; does the
entity disclose, separately for each arrangement or
each class of arrangements, the following
information in each period that an arrangement
exists:
a. a description of the arrangement including: 1 1 1 1 1 1
– the underlying asset and any restrictions on its 1 1 1 1 1 1
– the life and other significant terms of the
arrangement; 1 1 1 1 1 1
– the transactions that are linked together, including
any options. 1 1 1 1 1 1
Page 60 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
b. the accounting treatment applied to any fee
received; 1 1 1 1 1 1
c. the amount of fees recognised as income in the
period; and 1 1 1 1 1 1
d. the line item of the Income Statement in which
the fee income is included. 1 1 1 1 1 1
Determining whether an arrangement contains
a lease (IFRIC 4)
270 IAS 1.108 Does the entity disclose its accounting policy for
determining whether an arrangement contains a 1 1 1 1 1 1
IFRIC IFRIC 4 provides guidance for determining whether
4.12, an arrangement, that does not take the legal form of
IFRIC a lease but conveys a right to use an asset is, or
4.13 contains, a lease that should be accounted for in
accordance with IAS 17. For the purpose of
applying the requirements of IAS 17, payments and
other consideration required by the arrangement
have to be separated. In some cases, it will be
impracticable to reliably separate the payments for
the lease from payments for other elements in the
arrangement.
271 IFRIC If in case of an operating lease the entity is a
4.15 purchaser and concludes that it is impracticable to
reliably separate the payments for the lease from
payments for other elements in the arrangement,
does the entity:
a. treat all payments under the arrangement as lease
payments for the purposes of complying with the
disclosure requirements of IAS 17, but: 1 1 1 1 1 1
i. disclose those payments separately from
minimum lease payments of other arrangements
that do not include payments for non-lease 1 1 1 1 1 1
elements; and disclosed payments also include
ii. state that the
payments for non-lease elements in the 1 1 1 1 1 1
NON-CURRENT ASSETS HELD FOR SALE
AND DISCONTINUED OPERATIONS
IFRS 5.31 A component of an entity comprises operations
and cash flows that can be clearly distinguished,
operationally and for financial reporting purposes,
from the rest of the entity. In other words, a
component of an entity will have been a cash-
generating unit or a group of cash-generating units
while being held for use.
IFRS 5.32 A discontinued operation is a component of an
entity that either has been disposed of, or is
classified as held for sale, and:
a. represents a separate major line of business or
geographical area of operations;
b. is part of a single co-ordinated plan to dispose of
a separate major line of business or geographical
area of operations; or
c. is a subsidiary acquired exclusively with a view
to resale.
272 IFRS 5.30, Does the entity present information that enables
IFRS 5.33 users of the financial statements to evaluate the
financial effects of discontinued operations and
disposals of non-current assets (or disposal groups)
by disclosing the following information:
a. a single amount on the face of the Income
Statement comprising the total of:
– the post-tax profit or loss of discontinued
operations; and 1 1 1 1 1 1
– the post-tax gain or loss recognised on the
measurement to fair value less costs to sell or on the
disposal of the assets or disposal group(s)
constituting the discontinued operation; and 1 1 1 1 1 1
b. an analysis of the single amount in (a) into:
– the revenue, expenses and pre-tax profit or loss of
discontinued operations; 1 1 1 1 1 1
– the related income tax expense; 1 1 1 1 1 1
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EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
– the gain or loss recognised on the measurement to
fair value less costs to sell or on the disposal of the
assets or disposal group(s) constituting the
discontinued operation; and 1 1 1 1 1 1
– the related income tax expense; and 1 1 1 1 1 1
c. the net cash flows attributable to the operating,
investing and financing activities of discontinued
operations. 1 1 1 1 1 1
IFRS 5.33 The analysis in (b) above may be presented in the
notes or on the face of the Income Statement. If it
is presented on the face of the Income Statement it
shall be presented in a section identified as relating
to discontinued operations, ie separately from
continuing operations. The analysis is not required
for disposal groups that are newly acquired
subsidiaries that meet the criteria to be classified as
held for sale on acquisition (see IFRS 5.11).
IFRS 5.33 The analysis in (c) above may be presented either in
the notes or on the face of the financial statements.
These disclosures are not required for disposal
groups that are newly acquired subsidiaries that
meet the criteria to be classified as held for sale on
acquisition (see IFRS 5.11).
273 IFRS 5.34 Does the entity re-present the disclosures in IFRS
5.33 above for prior periods presented in the
financial statements so that the disclosures relate to
all operations that have been discontinued by the
balance sheet date for the latest period presented. 1 1 1 1 1 1
274 IFRS 5.35 Does the entity classify separately in discontinued
operations and disclose the nature of amount of
adjustments that are made in the current period to
amounts previously presented in discontinued
operations that are directly related to the disposal of
a discontinued operation in a prior period. 1 1 1 1 1 1
IFRS 5.35 Examples of circumstances in which these
adjustments may arise include the following:
a. the resolution of uncertainties that arise from the
terms of the disposal transaction, such as the
resolution of purchase price adjustments and
indemnification issues with the purchaser;
b. the resolution of uncertainties that arise from and
are directly related to the operations of the
component before its disposal, such as
environmental and product warranty obligations
retained by the seller; and
c. the settlement of employee benefit plan
obligations, provided that the settlement is directly
related to the disposal transaction.
275 IFRS 5.41 Does the entity disclose the following information
in the notes in the period in which a non-current
asset (or disposal group) has been either classified
as held for sale or sold:
a. a description of the non-current asset (or disposal
group); 1 1 1 1 1 1
b. a description of the facts and circumstances of
the sale, or leading to the expected disposal, and the
expected manner and timing of that disposal; 1 1 1 1 1 1
c. the gain or loss recognised in accordance with
IFRS 5.20-22 and, if not separately presented on
the face of the Income Statement, the caption in the
Income Statement that includes that gain or loss; 1 1 1 1 1 1
and applicable, the segment in which the non-
d. if
current asset (or disposal group) is presented either
in accordance with IAS 14 or IFRS 8. 1 1 1 1 1 1
276 IFRS 5.42 Where an entity ceases to classify the asset (or
disposal group) as held for sale (see IFRS 5.26 and
29) has the entity disclosed the following
information in the period of the decision to change
the plan to sell the non-current asset (or disposal
group):
Page 62 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
a. a description of the facts and circumstances
leading to the decision; and 1 1 1 1 1 1
b. the effect of the decision on the results of
operations for the period and any prior periods
presented. 1 1 1 1 1 1
PROPERTY, PLANT AND EQUIPMENT
277 IAS 16.42 Does the entity disclose the effects of taxes on
income, if any, resulting from the revaluation of
property, plant and equipment in accordance with
IAS 12. 1 1 1 1 1 1
278 IAS 16.73 Is the following information disclosed for each
class of property, plant and equipment:
a. the measurement bases used for determining the
gross carrying amount; 1 1 1 1 1 1
b. the depreciation methods used; 1 1 1 1 1 1
c. the useful lives or the depreciation rates used; 1 1 1 1 1 1
d. the gross carrying amount and the accumulated
depreciation (aggregated with accumulated
impairment losses) at the beginning and end of the
period; and 1 1 1 1 1 1
e. a reconciliation of the carrying amount at the
beginning and end of the period showing:
– additions; 1 1 1 1 1 1
– assets classified as held for sale or included in a
disposal group classified as ‘held for sale’ in
accordance with IFRS 5 and other disposals; 1 1 1 1 1 1
– acquisitions through business combinations; 1 1 1 1 1 1
– increases or decreases during the period resulting
from revaluations (see IAS 16.31, 39 and 40) and
from impairment losses recognised or reversed
directly in equity under IAS 36; 1 1 1 1 1 1
– impairment losses recognised in profit or loss
during the period under IAS 36; 1 1 1 1 1 1
– impairment losses reversed in profit or loss
during the period under IAS 36; 1 1 1 1 1 1
IAS 16.75 – depreciation (whether recognised in profit or loss
or as a part of the cost of other assets); 1 1 1 1 1 1
– the net exchange differences arising on the
translation of the financial statements from the
functional currency into a different presentation
currency, including the translation of a foreign
operation into the presentation currency of the
reporting entity; and 1 1 1 1 1 1
– other changes. 1 1 1 1 1 1
IAS 16.78 An entity discloses information on impaired
property, plant and equipment under IAS 36 in
addition to the information required by IAS 1 1 1 1 1 1
279 IAS 16.74 16.73(e)(iv)-(vi). information been disclosed:
Has the following
a. the existence and amounts of restrictions on title,
and property, plant and equipment pledged as
security for liabilities; 1 1 1 1 1 1
b. the amount of expenditures recognised in the
carrying amount of an item of property, plant and
equipment in the course of its construction; 1 1 1 1 1 1
c. the amount of contractual commitments for the
acquisition of property, plant and equipment; and 1 1 1 1 1 1
d. if it is not disclosed separately on the face of the
Income Statement, the amount of compensation
from third parties for items of property, plant and
equipment that were impaired, lost or given up that
is included in profit or loss. 1 1 1 1 1 1
280 IAS 16.77 When items of property, plant and equipment are
stated at revalued amounts, has the following
information been disclosed:
a. the effective date of the revaluation; 1 1 1 1 1 1
b. whether an independent valuer was involved; 1 1 1 1 1 1
c. the methods and significant assumptions applied
in estimating the items’ fair values; 1 1 1 1 1 1
Page 63 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
d. the extent to which the items’ fair values were
determined directly by reference to observable
prices in an active market or recent market
transactions on arm’s length terms or were
estimated using other valuation techniques; 1 1 1 1 1 1
e. for each revalued class of property, plant and
equipment, the carrying amount that would have
been recognised had the assets been carried under
the cost model; and 1 1 1 1 1 1
f. the revaluation surplus, indicating the change for
the period and any restrictions on the distribution of
the balance to shareholders. 1 1 1 1 1 1
281 IAS 16.79 Has the following additional information been
disclosed:
a. the carrying amount of temporarily idle
property, plant and equipment; 1 1 1 1 1 1
b. the gross carrying amount of any fully
depreciated property, plant and equipment that is
still in use; 1 1 1 1 1 1
c. the carrying amount of property, plant and
equipment retired from active use and held for
disposal; and 1 1 1 1 1 1
d. when the cost model is used, the fair value of
property, plant and equipment when this is
materially different from the carrying amount. 1 1 1 1 1 1
PROVISIONS, CONTINGENT LIABILITIES
AND CONTINGENT ASSETS
282 IAS 37.92 In extremely rare cases, disclosure of some or all of
the information required regarding provisions,
contingent liabilities or contingent assets can be
expected to prejudice seriously the position of the
entity in a dispute with other parties. Has the entity
disclosed in such cases:
a. the general nature of the dispute; and 1 1 1 1 1 1
b. the fact that, and reason why, the information
has not been disclosed. 1 1 1 1 1 1
283 IAS 37.84 Is the following information disclosed for each
class of provision (comparative information is not
required):
a. the carrying amount at the beginning and end of
the period; 1 1 1 1 1 1
b. additional provisions made in the period,
including increases to existing provisions; 1 1 1 1 1 1
c. amounts used (i.e. incurred and charged against
the provision) during the period; 1 1 1 1 1 1
d. unused amounts reversed during the period; and 1 1 1 1 1 1
e. the increase during the period in the discounted
amount arising from the passage of time and the
effect of any change in the discount rate. 1 1 1 1 1 1
284 IAS 37.85 Has the following information been disclosed for
each class of provision:
a. a brief description of the nature of the obligation
and the expected timing of any resulting outflows
of economic benefits; 1 1 1 1 1 1
b. an indication of the uncertainties about the
amount or timing of those outflows. Where
necessary to provide adequate information, the
entity should disclose the major assumptions made
concerning future events, (see IAS 37.49-50 for
additional guidance); and 1 1 1 1 1 1
c. the amount of any expected reimbursement,
stating the amount of any asset that has been
recognised for that expected reimbursement. 1 1 1 1 1 1
Contingent liabilities
285 IAS 37.86 Unless the possibility of any outflow in settlement
is remote, has the entity disclosed for each class of
contingent liability at the balance sheet date:
a. a brief description of the nature of the contingent
liability; 1 1 1 1 1 1
Page 64 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
b. an estimate of its financial effect, measured in
accordance with the requirements for measuring
provisions (under IAS 37.36-52); 1 1 1 1 1 1
c. an indication of the uncertainties relating to the
amount or timing of any outflow; 1 1 1 1 1 1
d. the possibility of any reimbursement; and 1 1 1 1 1 1
IAS 37.91 e. if any of the above information is not disclosed,
the fact that it is not practicable to do so. 1 1 1 1 1 1
286 IAS 37.88 When a provision and a contingent liability arise
from the same set of circumstances, has the entity
made the disclosures required by IAS 37.84-86
above, in a way that shows the link between the
provision and the contingent liability. 1 1 1 1 1 1
Contingent assets
287 IAS 37.89 When an inflow of economic benefits is probable,
has the entity disclosed: 1 1 1 1 1 1
a. a brief description of the nature of the contingent
assets at the balance sheet date; 1 1 1 1 1 1
b. if practicable, an estimate of their financial
effect, measured in accordance with the
requirements for measuring provisions (under 1 1 1 1 1 1
c. when any of and
IAS 37.91 IAS 37.36-52); the above information is not
disclosed, the fact that it is not practicable to do so. 1 1 1 1 1 1
Rights to interests arising from
decommissioning, restoration and
environmental rehabilitation funds (IFRIC 5)
288 IAS 1.108 Does the entity disclose its accounting policy in
relation to decommission, restoration and
environmental rehabilitation funds. 1 1 1 1 1 1
IFRIC IFRIC 5 applies to accounting in the financial
5.04 statements of a contributor for interests arising
from decommissioning funds that have both of the
following features:
a. the assets are administered separately (either by
being held in a separate legal entity or as segregated
assets within another entity); and
b. a contributor’s right to access the assets is
restricted.
289 IFRIC Does the entity (as a contributor) disclose the
5.11 nature of its interest in a fund and any restrictions
on access to the assets in the fund. 1 1 1 1 1 1
290 IFRIC When the entity (as a contributor) has an obligation
5.12 to make potential additional contributions that is
not recognised as a liability (see IFRIC 5.10), does
the entity make the disclosures required by IAS
37.86. (see item 264.) 1 1 1 1 1 1
291 IFRIC When the entity (as a contributor) accounts for its
5.13 interest in the fund in accordance with IFRIC 5.9,
does the entity make the disclosures required by
IAS 37.85(c). (see item 264.) 1 1 1 1 1 1
Liabilities arising from participating in a
specific market-saste electrical and electronic
equipment (IFRIC 6)
292 IFRIC Does the entity disclose its accounting policy in
6.10 relation to liabilities arising from participating in
specific market-waste electrical and electronic
equipment. 1 1 1 1 1 1
RELATED PARTIES
IAS 24.3 The disclosure requirements of IAS 24 with respect
to related party transactions and outstanding
balances apply also in the separate financial
statements of a parent, venturer or investor
presented in accordance with IAS 27.
IAS 24.4 Related party transactions and outstanding balances
with other entities in a group are disclosed in an
entity’s separate financial statements. Intra-group
related party transactions and outstanding balances
are eliminated in the preparation of consolidated
financial statements of the group.
Page 65 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
IAS 24.22 Items of a similar nature may be disclosed in
aggregate except when separate disclosure is
necessary for an understanding of the effects of
related party transactions on the financial
statements of the entity.
293 IAS 24.12 Have relationships between parents and
subsidiaries been disclosed irrespective of whether
there have been transactions between those related 1 1 1 1 1 1
IAS 24.14 parties.
The identification of related party relationships
between parents and subsidiaries is in addition to
the disclosure requirements in IAS 27, IAS 28 and
IAS 31, which require an appropriate listing and
description of significant investments in
subsidiaries, associates and jointly controlled
294 IAS 24.12 entities. entity disclosed the following information:
Has the
a. the name of the entity’s parent; 1 1 1 1 1 1
b. if different, the ultimate controlling party; or 1 1 1 1 1 1
c. if neither the entity’s parent nor the ultimate
controlling party produces financial statements
available for public use, the name of the next most
senior parent that does so. 1 1 1 1 1 1
295 IAS 24.16 Has the entity disclosed key management personnel
compensation in total and for each of the following
categories:
a. short-term employee benefits; 1 1 1 1 1 1
b. post-employment benefits; 1 1 1 1 1 1
c. other long-term benefits; 1 1 1 1 1 1
d. termination benefits; and 1 1 1 1 1 1
e. share-based payments. 1 1 1 1 1 1
296 IAS 24.17 If there have been transactions between related
parties, has the entity disclosed, in addition to the
requirements in IAS 24.16 to disclose key
management personnel compensation, the
following information (separately for each of the
categories required by IAS 24.18):
a. the nature of the related party relationship and 1 1 1 1 1 1
b. information about the transactions and
outstanding balances necessary for an
understanding of the potential effect of the
relationship on the financial statements (separately
for each of the categories required by IAS 24.18),
including, as a minimum, the following disclosures:
– the amount of the transactions; 1 1 1 1 1 1
– the amount of outstanding balances and: 1 1 1 1 1 1
– their terms and conditions, including whether
they are secured, and the nature of the
consideration to be provided in settlement; and 1 1 1 1 1 1
– details of any guarantees given or received; 1 1 1 1 1 1
– provisions for doubtful debts related to the
amount of outstanding balances; and 1 1 1 1 1 1
– the expense recognised during the period in
respect of bad or doubtful debts due from related 1 1 1 1 1 1
297 IAS 24.18 Does the entity disclose the information required by
IAS 24.17 separately for each of the following
categories:
a. the parent; 1 1 1 1 1 1
b. entities with joint control or significant influence
over the entity; 1 1 1 1 1 1
c. subsidiaries; 1 1 1 1 1 1
d. associates; 1 1 1 1 1 1
e. joint ventures in which the entity is a venturer; 1 1 1 1 1 1
f. key management personnel of the entity or its
parent; and 1 1 1 1 1 1
g. other related parties. 1 1 1 1 1 1
298 IAS 24.20 Does the entity disclose, for example, the following
transactions if they are with a related party:
a. purchases or sales of goods (finished or
unfinished); 1 1 1 1 1 1
b. purchases or sales of property and other assets; 1 1 1 1 1 1
c. rendering or receiving of services; 1 1 1 1 1 1
Page 66 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
d. leases; 1 1 1 1 1 1
e. transfer of research and development; 1 1 1 1 1 1
f. transfer under license agreements; 1 1 1 1 1 1
g. transfers under finance arrangements (including
loans and equity contributions in cash or in kind); 1 1 1 1 1 1
h. provision of guarantees or collateral; and 1 1 1 1 1 1
i. settlement of liabilities on behalf of the entity or
by the entity on behalf of another party. 1 1 1 1 1 1
299 IAS 24.21 Have disclosures that related party transactions
were made on terms equivalent to those that prevail
in arm’s length transactions been made only if such
terms can be substantiated. 1 1 1 1 1 1
REVENUE
300 IAS 18.35 Does the entity disclose:
a. the accounting policies adopted for the
recognition of revenue; 1 1 1 1 1 1
b. the methods adopted to determine the stage of
completion of transactions involving the rendering
of services; 1 1 1 1 1 1
c. the amount of each significant category of
revenue recognised during the period including
revenue arising from:
– the sale of goods; 1 1 1 1 1 1
– the rendering of services; 1 1 1 1 1 1
– interest; 1 1 1 1 1 1
– royalties; 1 1 1 1 1 1
– dividends; and 1 1 1 1 1 1
d. the amount of revenue arising from exchanges of
goods or services included in each significant
category of revenue. 1 1 1 1 1 1
Customer Loyalty Programmes
301 If an entity early adopts IFRIC 13 Customer
Loyalty Programmes for a period beginning before
1 July 2008, does it disclose that fact. 1 1 1 1 1 1
An entity shall apply IFRIC 13 for annual periods
beginning on or after 1 July 2008. Earlier
application is permitted.
Service concession arrangements
302 If an entity early adopts IFRIC 12 Service
Concession Agreements for a period beginning
before 1 January 2008, does it disclose that fact. 1 1 1 1 1 1
An entity shall apply IFRIC 12 for annual periods
beginning on or after 1 January 2008. Earlier
application is permitted.
303 SIC-29.6, An entity (the Concession Operator or Operator)
SIC-29.7 may enter into an arrangement with another entity
(the Concession Provider or Grantor) to provide
services that give the public access to major
economic and social facilities. All aspects of a
service concession arrangement should be
considered in determining the appropriate
disclosures in the notes to the financial statements.
If the entity is a Concession Operator or a
Concession Provider, does the entity disclose the
following in each period for each service
concession arrangement or each class of service
concession arrangements:
a. a description of the arrangement; 1 1 1 1 1 1
b. significant terms of the arrangement that may
affect the amount, timing and certainty of future
cash flows such as the period of the concession, re-
pricing dates and the basis upon which re- pricing
or re- negotiation is determined; 1 1 1 1 1 1
c. the nature and extent of:
– rights to use specified assets; 1 1 1 1 1 1
– obligations to provide or rights to expect
provision of services; 1 1 1 1 1 1
– obligations to acquire or build items of property,
plant and equipment; 1 1 1 1 1 1
– obligations to deliver or rights to receive specified
assets at the end of the concession period; 1 1 1 1 1 1
Page 67 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
– renewal and termination options; and 1 1 1 1 1 1
– other rights and obligations; 1 1 1 1 1 1
d. changes in the arrangement occurring during the
period; and 1 1 1 1 1 1
e. how the service arrangement has been classified
(this disclosure requirement only applies if IFRIC
12 is early adopted). 1 1 1 1 1 1
An operator shall disclose the amount of revenue
and profits or losses recognised in the period on
exchanging construction services for a financial
asset or an intangible asset (this disclosure
requirement only applies if IFRIC 12 is early
adopted).
OPERATING REPORTING
304 IFRS 8.20 Does the entity disclose information to enable users
of its financial statements to evaluate the nature and
financial effects of the business activities in which
it engages and the economic environments in which
it operates. 1 1 1 1 1 1
305 IFRS 8.21 Has the entity disclosed the following for each
period for which an Income Statement is presented:
a. general information as described in IFRS 8.22; 1 1 1 1 1 1
b. information about reported segment profit or
loss, including specified revenues and expenses
included in reported segment profit or loss, segment
assets, segment liabilities and the basis of
measurement, as described in IFRS 8.23-27; and 1 1 1 1 1 1
c. reconciliations of the totals of segment revenues,
reported segment profit or loss, segment assets,
segment liabilities and other material segment items
to corresponding entity amounts as described in
IFRS 8.28. 1 1 1 1 1 1
306 For each date that a Balance Sheet is presented,
does the entity provide a reconciliation of Balance
Sheet amounts for reportable segments to those
Balance Sheet amounts. Information for prior
periods shall be restated as described in IFRS 8.29
and 30. 1 1 1 1 1 1
General information
307 IFRS 8.22 Does an entity disclose the following general
information:
a. factors used to identify the entity's reportable
segments, including the basis of organisation (for
example, whether management has chosen to
organise the entity around differences in products
and services, geographical areas, regulatory
environments, or a combination of factors and
whether operating segments have been aggregated);
and 1 1 1 1 1 1
b. types of products and services from which each
reportable segment derives its revenues. 1 1 1 1 1 1
Information about profit or loss, assets and
liabilities
308 IFRS 8.23 Does the entity report a measure of profit or loss
and total assets for each reportable segment. 1 1 1 1 1 1
309 IFRS 8.23 Does the entity report a measure of liabilities for
each reportable segment if such an amount is
regularly provided to the chief operating decision
maker. 1 1 1 1 1 1
310 IFRS 8.23 Does the entity disclose the following about each
reportable segment if the specified amounts are
included in the measure of segment profit or loss
reviewed by the chief operating decision maker, or
are otherwise regularly provided to the chief
operating decision maker, even if not included in
that measure of segment profit or loss:
a. revenues from external customers; 1 1 1 1 1 1
b. revenues from transactions with other operation
segments of the same entity; 1 1 1 1 1 1
Page 68 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
c. interest revenue or interest revenue net of its
interest expense (and the fact that this has been
done); 1 1 1 1 1 1
An entity shall report interest revenue separately
from interest expense for each reportable segment
unless a majority of the segment's revenues are
from interest and the chief operating decision
maker relies primarily on net interest revenue to
assess the performance of the segment and make
decisions about resources to be allocated to the
segment. In that situation, an entity may report that
segment's interest revenue net of its interest
expense and disclose that it has done so.
d. interest expense; 1 1 1 1 1 1
e. depreciation and amortisation; 1 1 1 1 1 1
f. material items of income and expense disclosed
in accordance with IAS 1.86; 1 1 1 1 1 1
g. the entity's interest in the profit or loss of
associates and joint ventures accounted for by the
equity method; 1 1 1 1 1 1
h. income tax expense or income; and 1 1 1 1 1 1
i. material non-cash items other than depreciation
and amortisation. 1 1 1 1 1 1
311 IFRS 8.24 Does the entity disclose the following about each
reportable segment if the specified amounts are
included in the measure of segment assets reviewed
by the chief operating decision maker or are
otherwise regularly provided to the chief operating
decision maker, even if not included in the measure
of segment assets:
a. the amount of investment in associates and joint
ventures accounted for by the equity method; and 1 1 1 1 1 1
b. the amounts of additions to non-current assets
other than financial instruments, deferred tax
assets, post-employment benefit assets (see IAS
19.54-58) and rights arising under insurance 1 1 1 1 1 1
contracts.
Measurement
312 IFRS 8.25 Are the amounts of each segment item reported the
measure reported to the chief operating decision
maker for the purposes of making decisions about
allocating resources to the segment and assessing
its performance. 1 1 1 1 1 1
Adjustments and eliminations made in preparing an
entity's financial statements and allocations of
revenues, expenses, and gains or losses shall be
included in determining reported segment profit or
loss only if they are included in the measure of the
segment's profit or loss that is used by the chief
operating decision maker. Similarly, only those
assets and liabilities that are included in the
measures of the segment's assets and segment's
liabilities that are used by the chief operating
decision maker shall be reported for that segment.
If amounts are allocated to reported segment profit
or loss, assets or liabilities, those amounts shall be
allocated on a reasonable basis.
313 IFRS 8.26 If the chief operating decision maker uses only one
measure of an operating segment's profit or loss, is
the segment information reported on those 1 1 1 1 1 1
measures. operating decision maker uses more
If the chief
than one measure of an operating segment's profit
or loss, is the segment information reported as
determined in accordance with the measurement
principles most consistent with those used in
measuring the corresponding amounts in the entity's
financial statements.
Page 69 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
314 IFRS 8.27 Does the entity provide an explanation of the
measurements of segment profit or loss, segment
assets and segment liabilities for each reportable
segment. At a minimum, an entity shall disclose the
following:
a. the basis of accounting for any transactions
between reportable segments. 1 1 1 1 1 1
b. the nature of any differences between the
measurements of the reportable segments' profits or
losses and the entity's profit or loss before income
tax expense or income and discontinued operations
(if not apparent from the reconciliations described
in IFRS 8.28). Those differences could include
accounting policies and policies for allocation of
centrally incurred costs that are necessary for an
understanding of the reported segment information. 1 1 1 1 1 1
c. the nature of any differences between the
measurements of the reportable segments' assets
and the entity's assets (if not apparent from the
reconciliations described in IFRS 8.28). Those
differences could include accounting policies and
policies for allocation of jointly used assets that are
necessary for an understanding of the reported
segment information. 1 1 1 1 1 1
d. the nature of any differences between the
measurements of the reportable segments' liabilities
and the entity's liabilities (if not apparent from the
reconciliations described in IFRS 8.28). Those
differences could include accounting policies and
policies for allocation of jointly utilised liabilities
that are necessary for an understanding of the
reported segment information. 1 1 1 1 1 1
e. the nature of any changes from prior periods in
the measurement methods used to determine
reported segment profit or loss and the effect, if
any, of those changes on the measure of segment 1 1 1 1 1 1
profit or loss.and effect of any asymmetrical
f. the nature
allocations to reportable segments. For example, an
entity might allocate depreciation expense to a
segment without allocating the related depreciable
assets to that segment. 1 1 1 1 1 1
Reconciliations
315 IFRS 8.28 Does the entity provide reconciliations of all of the
following:
a. the total of the reportable segments' revenues to
the entity's revenue. 1 1 1 1 1 1
b. the total of the reportable segments' measures of
profit or loss to the entity's profit or loss before tax
expense (tax income) and discontinued operations.
However, if an entity allocates to reportable
segments items such as tax expense (tax income),
the entity may reconcile the total of the segments'
measures of profit or loss to the entity's profit or
loss after those items. 1 1 1 1 1 1
c. the total of the reportable segments' assets to the
entity's assets. 1 1 1 1 1 1
d. the total of the reportable segments' liabilities to
the entity's liabilities if segment liabilities are
reported in accordance with IFRS8.23. 1 1 1 1 1 1
e. the total of the reportable segments' amounts for
every other material item of information disclosed
to the corresponding amount for the entity. 1 1 1 1 1 1
Does the entity separately identify and describe all
material reconciling items. 1 1 1 1 1 1
For example, the amount of each material
adjustment needed to reconcile reportable segment
profit or loss to the entity's profit or loss arising
from different accounting policies shall be
separately identified and described.
Restatement of previously reported information
Page 70 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
IFRS 8.29 If an entity has changed the structure of its internal
organisation in a manner that causes the
composition of its reportable segments to change,
has the corresponding information for earlier
periods, including interim periods, been restated if
it is available and the cost to develop it not
excessive. The determination of whether the
information is not available and the cost to develop
it would be excessive shall be made for each
individual item of disclosure. Following a change
in the composition of its reportable segments, an
entity shall disclose whether it has restated the
corresponding items of segment information for
316 IFRS 8.30 earlier periods. changed the structure of its internal
If an entity has
organisation in a manner that causes the
composition of its reportable segments to change
and if segment information for earlier periods,
including interim periods, is not restated to reflect
the change, has the entity disclosed in the year in
which the change occurs segment information for
the current period on both the old basis and the new
basis of segmentation, unless the necessary
information is not available and the cost to develop 1 1 1 1 1 1
it would be excessive.
Entity-wide disclosures
317 IFRS 8.31 The entity-wide disclosures set out in items 314. to
316. below, apply to all entities subject to IFRS 8,
including those that have a single reportable
segment. This information must be provided only to
the extent that it has not already been provided as
part of the reportable operating segment
information in items 299. to 316. above. 1 1 1 1 1 1
Information about products and services
318 IFRS 8.32 Does the entity report the revenues from external
customers for each product and service, or each
group of similar products and services, unless the
necessary information is not available and the cost
to develop it would be excessive, in which case that
fact shall be disclosed. 1 1 1 1 1 1
The amounts of revenues reported shall be based on
the financial information used to produce the
entity's financial statements.
Information about geographical areas
319 IFRS 8.33 Does the entity report the following geographical
information:
The amounts reported shall be based on the
financial information that is used to produce the
entity's financial statements.
a. revenues from external customers:
(i) attributed to the entity's country of domicile; 1 1 1 1 1 1
(ii) attributed to all foreign countries in total from
which the entity derives revenues; 1 1 1 1 1 1
(iii) attributed to an individual foreign country, if
material; and 1 1 1 1 1 1
(iv) the basis for attributing revenues from external
customers to individual countries. 1 1 1 1 1 1
b. non-current assets other than financial
instruments, deferred tax assets, post-employment
benefit assets, and rights arising under insurance
contracts: in the entity's country of domicile;
(i) located 1 1 1 1 1 1
(ii) located in all foreign countries in total in which
the entity holds assets; and 1 1 1 1 1 1
(iii) located in an individual foreign country, if
material. 1 1 1 1 1 1
c. if the necessary information is not available and
the cost to develop it would be excessive, does the
entity disclose that fact. 1 1 1 1 1 1
An entity may provide, in addition to the
information required by IFRS 8.33, subtotals of
geographical information about groups of
countries.
Page 71 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
Information about major customers
320 IFRS 8.34 If revenues from transactions with a single external
customer amount to 10% or more of an entity's
revenues, does the entity disclose:
a. this fact; 1 1 1 1 1 1
b. the total amount of revenues from each such
customer; and 1 1 1 1 1 1
c. the identity of the segment or segments reporting
the revenues. 1 1 1 1 1 1
321 IFRS 8.34 The entity need not disclose the identity of a major
customer or the amount of revenues that each
segment reports from that customer. For the
purposes of IFRS 8, a group of entities known to a
reporting entity to be under common control shall
be considered a single customer, and a government
(national, state, provincial, territorial, local or
foreign) and entities known to the reporting entity
to be under the control of that government shall be
considered a single customer. 1 1 1 1 1 1
SHARE-BASED PAYMENT
IFRS 2 - Group and treasury share transactions
(IFRIC 11)
IAS 1
322 IAS 1.117 Does the entity disclose its accounting policy in
relation to transactions in which some or all of the
goods or services received as consideration for
equity instruments of the entity cannot be
specifically identified. 1 1 1 1 1 1
IFRS 2
323 IFRS 2.45 An entity with substantially similar types of share-
based payment arrangements may aggregate the
information presented in IFRS 2.45 (a) below,
unless separate disclosure of each arrangement is
necessary to enables users of the financial
statements to understand the nature and extent of
share-based payment arrangements that existed
324 IFRS 2.44, during the period.
Does the entity disclose information that enables
IFRS 2.45 users of the financial statements to understand the
nature and extent of share-based payment
arrangement in existence during the period by
disclosing at least the following items:
a. a description of each type of share-based
payment arrangement including the general terms
and conditions of each arrangement such as:
– vesting requirements; 1 1 1 1 1 1
– the maximum term of options granted; and 1 1 1 1 1 1
– the method of settlement (eg whether in cash or
equity); 1 1 1 1 1 1
b. the number and weighted average exercise prices
of share options for each of the following groups of
options:
– outstanding at the beginning of the period; 1 1 1 1 1 1
– granted during the period; 1 1 1 1 1 1
– forfeited during the period; 1 1 1 1 1 1
– exercised during the period; 1 1 1 1 1 1
– expired during the period; 1 1 1 1 1 1
– outstanding at the end of the period; and 1 1 1 1 1 1
– exercisable at the end of the period. 1 1 1 1 1 1
c. for share options exercised during the period, the
weighted average share price or where options were
exercised on a regular basis throughout the period,
the entity may instead disclose the weighted
average share price during the period; and 1 1 1 1 1 1
d. for share options outstanding at the end of the
period:
– the range of exercise prices; and 1 1 1 1 1 1
– the weighted average remaining contractual life. 1 1 1 1 1 1
Page 72 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
325 IFRS 2.45 In respect of IFRS 2.45(d) above, where the range
of exercise prices is wide, the outstanding options
shall be divided into ranges that are meaningful for
assessing the number and timing of additional
shares that may be issued and the cash that may be
received upon exercise of those options. 1 1 1 1 1 1
326 IFRS 2.46, If the entity has measured the fair value of goods or
IFRS 2.47 services received as consideration for equity
instruments of the entity indirectly, by reference to
the fair value of the equity instruments granted,
does the entity disclose information that enables
users of the financial statements to understand how
the fair value of the equity instruments granted
during the period was determined by disclosing at
least the following items:
a. for share options granted during the period, the
weighted average fair value of those options at the
measurement date and information on how that fair
value was measured , including:
– the option pricing model used; 1 1 1 1 1 1
– the inputs to that model, including the weighted
average share price, exercise price, expected
volatility, option life, expected dividends, the risk
free interest rate and any other inputs to the model,
including the method used and assumptions made
to incorporate the effects of expected early
exercise; and 1 1 1 1 1 1
– how expected volatility was determined,
including an explanation of the extent to which
expected volatility was based on historical 1 1 1 1 1 1
volatility; and how any other features of the option
– whether and,
grant were incorporated into the measurement of
fair value, such as market condition; 1 1 1 1 1 1
b. for other equity instruments granted during the
period (ie other than share options):
– the number of those equity instruments at the
measurement date; 1 1 1 1 1 1
– the weighted average fair value of those equity
instruments at the measurement date; and 1 1 1 1 1 1
– information on how the fair value was measured
including how the fair value was determined where
it was not measured on the basis of an observable
market price, whether and how expected dividends
were incorporated and whether and how any other
features of the equity instruments granted were
incorporated; 1 1 1 1 1 1
c. for share-based payment arrangements that were
modified during the period:
– an explanation of those modifications; 1 1 1 1 1 1
– the incremental fair value granted (as a result of
those modifications); and 1 1 1 1 1 1
– information on how the incremental fair value
granted was measured, consistently with the
requirements set out in a. and b. above, where
applicable. 1 1 1 1 1 1
327 IFRS 2.46, If the entity has measured directly the fair value of
IFRS 2.48 goods or services received during the period, does
the entity disclose information that enables users of
the financial statements to understand how the fair
value of the goods and services received during the
period was determined (eg whether fair value was
measured at a market price for those goods or
services). 1 1 1 1 1 1
328 IFRS 2.49 In circumstances where the equity-settled share-
based payment transactions involves parties other
than employees, where the entity determines that
the fair value of the goods and services received
cannot be estimated reliably, does the entity:
a. disclose that fact; and 1 1 1 1 1 1
Page 73 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
b. given an explanation of why the presumption
was rebutted. 1 1 1 1 1 1
329 IFRS 2.50 Does the entity disclose information that enables
users of the financial statements to understand the
effect of share-based payment transactions on the
entity’s profit or loss for the period and on its
financial position, by disclosing the following:
IFRS 2.51 a. the total expense recognised for the period
(relating to share-based payment transactions in
which the goods or services received did not
qualify for recognition as assets and hence were
recognised immediately as an expense), including
separate disclosure of that portion of the total
expense that arises from transactions accounted for
as equity-settled share-based payment transactions; 1 1 1 1 1 1
and liabilities arising from share-based payment
b. for
transactions:
– the total carrying amount at the end of the period;
and 1 1 1 1 1 1
– the total intrinsic value at the end of the period of
liabilities for which the counterparty’s right to cash
or other assets had vested by the end of the period
(eg vested share appreciation rights). 1 1 1 1 1 1
330 IFRS 2.52 Does the entity disclose such additional information
as necessary in order to satisfy the principles in
IFRS 2.44, 46 and 50. 1 1 1 1 1 1
AGRICULTURE
331 IAS 41.40 Does the entity disclose the aggregate gain or loss
arising during the current period on initial
recognition of biological assets and agricultural
produce and from the change in fair value less
estimated point-of-sale costs of biological assets. 1 1 1 1 1 1
332 IAS 41.41 Is a description of each group of biological assets
disclosed by the entity. 1 1 1 1 1 1
333 IAS 41.43 Does the entity provide a quantified description of
each group of biological assets, distinguishing
between consumable and bearer biological assets or
between mature and immature biological assets. 1 1 1 1 1 1
334 IAS 41.46 If not disclosed elsewhere in information published
with the financial statements, do the financial
statements include:
a. the nature of its activities involving each group
of biological assets; and 1 1 1 1 1 1
b. non-financial measures or estimates of the
physical quantities of: 1 1 1 1 1 1
– each group of the entity’s biological assets at the
end of the period; and 1 1 1 1 1 1
– output of agricultural produce during the period. 1 1 1 1 1 1
335 Does the entity disclose the following information
in its financial statements:
IAS 41.47 a. the methods and significant assumptions applied
in determining the fair value of each group of
agricultural produce at the point of harvest and
each group of biological assets; 1 1 1 1 1 1
IAS 41.48 b. the fair value less estimated point-of-sale costs of
costs of agricultural produce harvested during the
period, determined at the point of harvest; 1 1 1 1 1 1
IAS 41.49 c. the existence and carrying amounts of biological
assets whose title is restricted; 1 1 1 1 1 1
d. the carrying amounts of biological assets pledged
as security for liabilities; 1 1 1 1 1 1
e. the amount of commitments for the development
or acquisition of biological assets; 1 1 1 1 1 1
f. financial risk management strategies related to
agricultural activity; and 1 1 1 1 1 1
IAS 41.50 g. a reconciliation of changes in the carrying
amount of biological assets between the beginning
and the end of the current period that includes at 1 1 1 1 1 1
least: gain or loss arising from changes in fair value
– the
less estimated point-of-sale costs; 1 1 1 1 1 1
Page 74 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
– increases due to purchases; 1 1 1 1 1 1
– decreases due to sales and biological assets
classified as held for sale in accordance with IFRS 1 1 1 1 1 1
– decreases due to harvest; 1 1 1 1 1 1
– increases resulting from business combinations; 1 1 1 1 1 1
– net exchange differences arising on the
translation of financial statements into a different
presentation currency, and on translation of a
foreign entity into the presentation currency of the 1 1 1 1 1 1
– other changes.
reporting entity; and 1 1 1 1 1 1
336 IAS 41.51 Does the entity disclose, by group or otherwise, the
amount of change in fair value less estimated point-
of-sale costs included in net profit or loss due to
physical changes and due to price changes. 1 1 1 1 1 1
Disclosure when fair value cannot be measured
reliably
337 IAS 41.54 If the entity measures biological assets at their cost
less any accumulated depreciation and any
accumulated impairment losses at the end of the
period (because fair value cannot be measured
reliably, see IAS 41.30 for additional guidance),
has the following information been disclosed for
such biological assets:
a. a description of the biological assets; 1 1 1 1 1 1
b. an explanation of why fair value cannot be
measured reliably; 1 1 1 1 1 1
c. if possible, the range of estimates within which
fair value is highly likely to lie; 1 1 1 1 1 1
d. the depreciation method used; 1 1 1 1 1 1
e. the useful lives or the depreciation rates used; 1 1 1 1 1 1
f. the gross carrying amount and the accumulated
depreciation (aggregated with accumulated
impairment losses) at the beginning and end of the
period. 1 1 1 1 1 1
338 IAS 41.55 If, during the current period, the entity measures
biological assets at their cost less any accumulated
depreciation and any accumulated impairment
losses, does the entity disclose:
IAS 41.50 a. any gain or loss recognised on disposal of such
biological assets; 1 1 1 1 1 1
b. a separate reconciliation of changes in the
carrying amount of such biological assets between
the beginning and the end of the current period that
includes at least (comparative information is not
required):
– increases due to purchases; 1 1 1 1 1 1
– decreases due to sales and biological assets
classified as held for sale in accordance with IFRS 1 1 1 1 1 1
– decreases due to harvest; 1 1 1 1 1 1
– increases resulting from business combinations; 1 1 1 1 1 1
– net exchange differences arising on the
translation of financial statements into a different
presentation currency, and on translation of a
foreign entity into the presentation currency of the 1 1 1 1 1 1
– impairment losses included in net profit or loss;
reporting entity; 1 1 1 1 1 1
– reversals of impairment losses included in net
profit or loss; 1 1 1 1 1 1
– depreciation included in net profit or loss; and 1 1 1 1 1 1
– other changes. 1 1 1 1 1 1
339 IAS 41.56 If the fair value of biological assets previously
measured at their cost less any accumulated
depreciation and any accumulated impairment
losses becomes reliably measurable during the
current period, does the entity disclose:
a. a description of the biological assets; 1 1 1 1 1 1
b. an explanation of why fair value has become
reliably measurable; and 1 1 1 1 1 1
c. the effect of the change. 1 1 1 1 1 1
340 IAS 41.57 Does the entity disclose the following information
related to agricultural activity covered by IAS 41:
Page 75 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
a. the nature and extent of government grants
recognised in the financial statements; 1 1 1 1 1 1
b. any unfulfilled conditions and other
contingencies attaching to government grants; and 1 1 1 1 1 1
c. significant decreases expected in the level of
government grants. 1 1 1 1 1 1
CONSTRUCTION CONTRACTS
341 IAS 11.42 Does the entity present the following amounts in
respect of construction contracts separately in the
Balance Sheet (unless clearly immaterial):
a. the gross amount due from customers for
contract work as an asset; and 1 1 1 1 1 1
b. the gross amount due to customers for contract
work as a liability. 1 1 1 1 1 1
342 IAS 11.39 Does the entity disclose:
a. the amount of contract revenue recognised as
revenue in the period; 1 1 1 1 1 1
b. the methods used to determine the contract
revenue recognised in the period; and 1 1 1 1 1 1
c. the methods used to determine the stage of
completion of contracts in progress. 1 1 1 1 1 1
343 IAS 11.40 Does the entity disclose the following for contracts
in progress at the balance sheet date:
a. the aggregate amount of costs incurred and
recognised profits (less recognised losses) to date; 1 1 1 1 1 1
b. the amount of advances received; and 1 1 1 1 1 1
c. the amount of retentions. 1 1 1 1 1 1
344 IAS 11.45 Does the entity disclose any contingent assets and
contingent liabilities in connection with
construction contracts in accordance with IAS 37. 1 1 1 1 1 1
EXTRACTIVE INDUSTRIES
IFRS 6.1 The objective of IFRS 6 is to specify the financial
reporting for the exploration for and evaluation of
mineral resources. IFRS 6 contains the following
definitions:
IFRS 6 Exploration and evaluation assets: Exploration and
App.A evaluation expenditures recognised as assets in
accordance with the entity’s accounting policy.
Exploration and evaluation expenditures:
Expenditures incurred by an entity in connection
with the exploration for and evaluation of mineral
resources before the technical feasibility and
commercial viability of extracting a mineral
resource are demonstrable.
Exploration for and evaluation of mineral
resources: The search for mineral resources,
including minerals, oil, natural gas and similar non-
regenerative resources after the entity has obtained
legal rights to explore in a specific area, as well as
the determination of the technical feasibility and
commercial viability of extracting the mineral
resource.
345 IFRS 6.15 Does the entity classify exploration and evaluation
assets as tangible or intangible according to the
nature of the assets acquired and apply the
classification consistency. 1 1 1 1 1 1
346 IFRS 6.17 Does the entity stop classifying exploration and
evaluation assets as such when the technical
feasibility and commercial viability of extracting a
mineral resource are demonstrable. 1 1 1 1 1 1
347 IFRS 6.18 Does the entity present and disclose any
impairment loss relating to exploration and
evaluation assets in accordance with IAS 36. 1 1 1 1 1 1
348 IFRS 6.23, Does the entity disclose the following information
IFRS 6.24 that identifies and explains the amounts recognised
in its financial statements arising from the
exploration for and evaluation of mineral resources:
a. its accounting policies for exploration and
evaluation expenditures including the recognition
of exploration and evaluation assets; 1 1 1 1 1 1
Page 76 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
b. the amounts of assets, liabilities, income and
expense and operating and investing cash flows
arising from the exploration for and evaluation of
mineral resources. 1 1 1 1 1 1
349 IFRS 6.25 Does the entity treat exploration and evaluation
assets as a separate class of assets and make the
disclosures required by either IAS 16 or IAS 38
consistent with how the assets are classified. 1 1 1 1 1 1
INSURANCE CONTRACTS
Implementation Guidance IFRS 4 paragraphs IG11
– IG 71 suggests possible ways to apply the
disclosure requirements in paragraphs 36 – 37 of
IFRS 4.
Explanation of recognised amounts
350 IFRS 4.36, Does the insurer identify and explain the amounts
IFRS 4.37 in its financial statements arising from insurance
contracts, by disclosing the following information:
a. its accounting policies for insurance contracts
and related assets, liabilities, income and expense; 1 1 1 1 1 1
b. the recognised assets, liabilities, income and
expense (and, if it presents its cash flow statement
using the direct method, cash flows) arising from
insurance contracts; 1 1 1 1 1 1
c. where the insurer is a cedant:
– gains and losses recognised in profit or loss on
buying reinsurance; and 1 1 1 1 1 1
– if the cedant defers and amortises gains and
losses arising on buying reinsurance, the
amortisation for the period and the amounts
remaining unamortised at the beginning and end of 1 1 1 1 1 1
the period; and
d. the process used to determine the assumptions
that have the greatest effect on the measurement of
the recognised amounts described in (b) and (c).
When practicable, an insurer shall also give
quantified disclosure of those assumptions; 1 1 1 1 1 1
e. the effect of changes in assumptions used to
measure insurance assets and insurance liabilities,
showing separately the effect of each change that
has a material effect on the financial statements; 1 1 1 1 1 1
and
f. reconciliations of changes in insurance liabilities,
reinsurance assets and, if any, related deferred
acquisition costs. 1 1 1 1 1 1
Discretionary participation features
351 IFRS 4.35 In case the entity issued a financial instrument
containing a discretionary participation feature,
does it disclose the total interest expense recognised
in profit or loss when applying IFRS 7.20 (b). 1 1 1 1 1 1
The interest does not need to be calculated using
the effective interest method.
Amount, timing and uncertainty of cash flows
Nature and extent of risk arising from
insurance contracts
352 IFRS 4.38, Does the insurer enables users of its financial
IFRS 4.39 statements to evaluate the nature and extent of risks
arising from insurance contracts by disclosing the
following information:
a. its objectives, policies and processes for
managing risks arising from insurance contracts
and the methods used to manage those risks; 1 1 1 1 1 1
b. information about insurance risk (both before
and after risk mitigation by reinsurance), including
information about:
– the sensitivity to insurance risk (see IFRS 4.39A
and item 268.). 1 1 1 1 1 1
– concentrations of insurance risk, including a
description of how management determines
concentrations and a description of the shared
characteristic that identifies each concentration (eg
type of insured event, geographical area, or
currency). 1 1 1 1 1 1
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Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
– actual claims compared with previous estimates
(ie claims development). 1 1 1 1 1 1
IFRS 4.39 The disclosure about claims development shall go
back to the period when the earliest material claim
arose for which there is still uncertainty about the
amount and timing of the claims payments, but
need not go back more than ten years. An insurer
need not disclose this information for claims for
which uncertainty about the amount and timing of
claims payments is typically resolved within one
IFRS 4.44 year.
In applying IFRS 4.39(c)(iii), an entity need not
disclose information about claims development that
occurred earlier than five years before the end of
the first financial year in which it applies this IFRS.
Furthermore, if it is impracticable, when an entity
first applies this IFRS, to prepare information about
claims development that occurred before the
beginning of the earliest period for which an entity
presents full comparative information that complies
with this IFRS, the entity shall disclose that fact.
c. information about credit risk, liquidity risk and
market risk that IFRS 7.31 to 42 would require if
the insurance contracts were within the scope of
IFRS 7. 1 1 1 1 1 1
An insurer need not provide the maturity analysis
required by IFRS 7.39(a) if it discloses
information about the estimated timing of the net
cash outflows resulting from recognised insurance
liabilities instead. This may take the form of an
analysis, by estimated timing, of the amounts
recognised in the Balance Sheet.
If an insurer uses an alternative method to manage
sensitivity to market conditions, such as an
embedded value analysis, it may use that sensitivity
analysis to meet the requirement in IFRS 7.40(a).
Such an insurer shall also provide the disclosures
required by IFRS 7.41.
d. information about exposures to market risk
arising from embedded derivatives contained in a
host insurance contract if the insurer is not required
to, and does not, measure the embedded derivatives
at fair value. 1 1 1 1 1 1
353 IFRS 4.39 To comply with the requirements in IFRS
A 4.39(b)(i) to disclose information about the
sensitivity to insurance risk (see item 347.), does
the entity disclose either:
a. quantitative information about sensitivity which
comprises
– a sensitivity analysis that shows how profit or
loss and equity would have been affected had
changes in the relevant risk variable that were
reasonably possible at the balance sheet date 1 1 1 1 1 1
– the methods and assumptions used in preparing
occurred;
the sensitivity analysis; 1 1 1 1 1 1
– any changes from the previous period in the
methods and assumptions used, or 1 1 1 1 1 1
If an insurer uses an alternative method to manage
sensitivity to market conditions, such as an
embedded value analysis, it may meet this
requirement by disclosing that alternative
sensitivity analysis and the disclosures required by
IFRS 7.41. information about sensitivity, and
b. qualitative
information about those terms and conditions of
insurance contracts that have a material effect on
the amount, timing and uncertainty of the insurer’s
future cash flows. 1 1 1 1 1 1
LEASE DISCLOSURES BY LESSORS
Finance leases
IAS 17.47 The disclosure requirements of IAS 32 and, if
applicable, IFRS 7 also apply to finance leases.
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EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
354 IAS 17.36 Does the entity present assets held under a finance
lease in the Balance Sheet as a receivable at an
amount equal to the net investment in the lease. 1 1 1 1 1 1
355 IAS 17.47 Has the following information been disclosed by
the entity for finance leases:
a. a reconciliation between the gross investment in
the lease at the balance sheet date, and the present
value of minimum lease payments receivable at the
balance sheet date; 1 1 1 1 1 1
b. the gross investment in the lease and the present
value of minimum lease payments receivable at the
balance sheet date, for each of the following
periods: than one year;
– not later 1 1 1 1 1 1
– later than one year and not later than five years; 1 1 1 1 1 1
– later than five years; 1 1 1 1 1 1
c. unearned finance income; 1 1 1 1 1 1
d. the unguaranteed residual values accruing to the
benefit of the lessor; 1 1 1 1 1 1
e. the accumulated allowance for uncollectible
minimum lease payments receivable; 1 1 1 1 1 1
f. contingent rents recognised as income in the
period; and 1 1 1 1 1 1
g. a general description of the lessor’s material
leasing arrangements. 1 1 1 1 1 1
356 IAS 17.48 Does the entity disclose the gross investment less
unearned income in new business added during the
period, after deducting the relevant amounts for
cancelled leases. 1 1 1 1 1 1
Operating leases
IAS 17.56 The requirements on disclosure under the following
standards also apply for assets provided under
operating leases:
IAS 17.57 a. IAS 16 Property, Plant and Equipment; 1 1 1 1 1 1
b. IAS 32 Financial Instruments: Presentation and
IFRS 7 Financial Instruments: Disclosures; 1 1 1 1 1 1
c. IAS 36 Impairment of Assets; 1 1 1 1 1 1
d. IAS 38 Intangible Assets; 1 1 1 1 1 1
e. IAS 40 Investment Property; and 1 1 1 1 1 1
f. IAS 41 Agriculture. 1 1 1 1 1 1
357 IAS 17.49 Does the entity present assets subject to operating
leases in the statement of financial position
according to the nature of the asset. 1 1 1 1 1 1
358 IAS 17.56 Has the following information been disclosed by
the entity for operating leases: 1 1 1 1 1 1
a. the future minimum lease payments under non-
cancellable operating leases in the aggregate and
for each of the following periods: 1 1 1 1 1 1
– not later than one year; 1 1 1 1 1 1
– later than one year and not later than five years; 1 1 1 1 1 1
– later than five years; 1 1 1 1 1 1
b. total contingent rents recognised as income in the
period; and 1 1 1 1 1 1
c. a general description of the lessor’s leasing
arrangements. 1 1 1 1 1 1
Sale and leaseback transactions
359 IAS 17.65 Does the description of material leasing
arrangements include disclosure of unique or
unusual provisions of the agreement or terms of the
sale and leaseback transactions. 1 1 1 1 1 1
IAS 17.66 Sale and leaseback transactions may trigger the
separate disclosure criteria in IAS 1.
Substance of transactions involving the legal
form of a lease
Page 79 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
360 SIC-27.10, All aspects of an arrangement that does not, in
SIC-27.11 substance, involve a lease under IAS 17 shall be
considered in determining the appropriate
disclosures that are necessary to understand the
arrangement and the accounting treatment adopted.
When the entity has entered into arrangements that
are leases in form but not in substance; does the
entity disclose, separately for each arrangement or
each class of arrangements, the following
information in each period that an arrangement
exists:
a. a description of the arrangement including:
– the underlying asset and any restrictions on its 1 1 1 1 1 1
– the life and other significant terms of the
arrangement; 1 1 1 1 1 1
– the transactions that are linked together, including
any options. 1 1 1 1 1 1
b. the accounting treatment applied to any fee
received; 1 1 1 1 1 1
c. the amount of fees recognised as income in the
period; and 1 1 1 1 1 1
d. the line item of the Income Statement in which
the fee income is included. 1 1 1 1 1 1
Determining whether an arrangement contains
a lease (IFRIC 4)
361 IFRIC Does the entity disclose its accounting policy for
4.16 determining whether an arrangement contains a 1 1 1 1 1 1
IFRIC IFRIC 4 provides guidance for determining whether
4.12, an arrangement, that does not take the legal form of
IFRIC a lease but conveys a right to use an asset is, or
4.13 contains, a lease that should be accounted for in
accordance with IAS 17. For the purpose of
applying the requirements of IAS 17, payments and
other consideration required by the arrangement
have to be separated. In some cases, it will be
impracticable to reliably separate the payments for
the lease from payments for other elements in the
arrangement.
REPORTING BY RETIREMENT BENEFIT
PLANS
IAS 26.1 The disclosures in this section only apply to the
reports of retirement benefits plans.
Defined contribution plans
362 Does the report of the retirement benefit plan
contain the following information:
IAS 26.35, a. a statement of net assets available for benefits
IAS 26.13 disclosing:
– assets at the end of the period suitably classified; 1 1 1 1 1 1
– the basis of valuation of assets; 1 1 1 1 1 1
– details of any single investment exceeding either
5% of the net assets available for benefits or 5% of
any class or type of security; 1 1 1 1 1 1
– details of any investment in the employer; and 1 1 1 1 1 1
– liabilities other than the actuarial present value of
promised retirement benefits; 1 1 1 1 1 1
IAS 26.35 b. a statement of changes in net assets available for
benefits showing the following:
– employer contributions; 1 1 1 1 1 1
– employee contributions; 1 1 1 1 1 1
– investment income such as interest and 1 1 1 1 1 1
– other income; 1 1 1 1 1 1
– benefits paid or payable (analysed, for example,
as retirement, death and disability benefits, and
lump sum payments); 1 1 1 1 1 1
– administrative expenses; 1 1 1 1 1 1
– other expenses; 1 1 1 1 1 1
– taxes on income; 1 1 1 1 1 1
– profits and losses on disposal of investments and
changes in value of investments; and 1 1 1 1 1 1
– transfers from and to other plans; 1 1 1 1 1 1
Page 80 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
IAS 26.13, c. a description of the funding policy;
IAS 26.35 1 1 1 1 1 1
IAS 26.34 d. a summary of significant accounting policies; 1 1 1 1 1 1
IAS 26.36 e. a description of the plan and the effect of any
changes in the plan during the period disclosing:
i. the names of the employers and the employee
groups covered; 1 1 1 1 1 1
ii. the number of participants receiving benefits; 1 1 1 1 1 1
iii. the number of other participants; 1 1 1 1 1 1
iv. the type of plan – defined contribution; 1 1 1 1 1 1
v. a note as to whether participants contribute to the
plan; 1 1 1 1 1 1
vi. a description of the retirement benefits promised
to participants; 1 1 1 1 1 1
vii. a description of any plan termination terms; and 1 1 1 1 1 1
viii. changes in items i. to vii. during the period
covered by the report. 1 1 1 1 1 1
363 IAS 26.32 When plan investments are held for which an
estimate of fair value is not possible, has the reason
that fair value is not used been disclosed. 1 1 1 1 1 1
364 IAS 26.16 Does the report of a defined contribution plan
contain the following additional information:
a. a description of significant activities for the
period and the effect of any changes relating to the
plan, and its membership and terms and conditions; 1 1 1 1 1 1
b. statements reporting on the transactions and
investment performance for the period and the
financial position of the plan at the end of the
period; and 1 1 1 1 1 1
c. a description of the investment policies. 1 1 1 1 1 1
Defined benefit plans
IAS 26.28, For defined benefit plans, information is presented
IAS 26.31 in one of the following formats which reflect
different practices in the disclosure and
presentation of actuarial information:
a. a statement is included in the report that shows
the net assets available for benefits, the actuarial
present value of promised retirement benefits, and
the resulting excess or deficit. The report of the
plan also contains statements of changes in net
assets available for benefits and changes in the
actuarial present value of promised retirement
benefits. The report may include a separate
actuary's report supporting the actuarial present
value of promised retirement benefits;
b. a report that includes a statement of net assets
available for benefits and a statement of changes in
net assets available for benefits. The actuarial
present value of promised retirement benefits is
disclosed in a note to the statements. The report
may also include a report from an actuary
supporting the actuarial present value of promised
retirement benefits; and
c. a report that includes a statement of net assets
available for benefits and a statement of changes in
net assets available for benefits with the actuarial
present value of promised retirement benefits
contained in a separate actuarial report.
365 Does the report of the retirement benefit plan
contain the following information:
IAS 26.35 a. a statement of net assets available for benefits
disclosing:
– assets at the end of the period suitably classified; 1 1 1 1 1 1
– the basis of valuation of assets; 1 1 1 1 1 1
– details of any single investment exceeding either
5% of the net assets available for benefits or 5% of
any class or type of security; 1 1 1 1 1 1
– details of any investment in the employer; and 1 1 1 1 1 1
– liabilities other than the actuarial present value of
promised retirement benefits; 1 1 1 1 1 1
Page 81 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
IAS 26.35 b. a statement of changes in net assets available for
benefits showing the following:
– employer contributions; 1 1 1 1 1 1
– employee contributions; 1 1 1 1 1 1
– investment income such as interest and 1 1 1 1 1 1
– other income; 1 1 1 1 1 1
– benefits paid or payable (analysed, for example,
as retirement, death and disability benefits, and
lump sum payments); 1 1 1 1 1 1
– administrative expenses; 1 1 1 1 1 1
– other expenses; 1 1 1 1 1 1
– taxes on income; 1 1 1 1 1 1
– profits and losses on disposal of investments and
changes in value of investments; and 1 1 1 1 1 1
– transfers from and to other plans; 1 1 1 1 1 1
IAS 26.35 c. a description of the funding policy; 1 1 1 1 1 1
IAS 26.34 d. a summary of significant accounting policies; 1 1 1 1 1 1
IAS 26.36 e. a description of the plan and the effect of any
changes in the plan during the period disclosing:
i. the names of the employers and the employee
groups covered; 1 1 1 1 1 1
ii. the number of participants receiving benefits; 1 1 1 1 1 1
iii. the number of other participants; 1 1 1 1 1 1
iv. the type of plan – defined benefit; 1 1 1 1 1 1
v. a note as to whether participants contribute to the
plan; 1 1 1 1 1 1
vi. a description of the retirement benefits promised
to participants; 1 1 1 1 1 1
vii. a description of any plan termination terms; and 1 1 1 1 1 1
viii. changes in items i. to vii. during the period
covered by the report. 1 1 1 1 1 1
IAS 26.35 f. a description of significant actuarial assumptions
made; 1 1 1 1 1 1
IAS 26.35 g. the method used to calculate the actuarial present
value of promised retirement benefits; and 1 1 1 1 1 1
IAS 26.35 h. the actuarial present value of promised
retirement benefits (which may distinguish between
vested benefits and non-vested benefits) based on
the benefits promised under the terms of the plan,
on service rendered to date, and which uses either
current salary levels or projected salary levels. 1 1 1 1 1 1
366 IAS 26.18 Have the effects of any change in actuarial
assumptions that have had a significant effect on
the actuarial present value of promised retirement
benefits been disclosed. 1 1 1 1 1 1
367 IAS 26.17 If an actuarial valuation has not been prepared at
the date of the report, has the date of the valuation
used been disclosed. 1 1 1 1 1 1
368 IAS 26.18 Does the entity disclose the basis used – using
either current salary levels or projected salary levels
– to calculate the actuarial present value of
promised retirement benefits. 1 1 1 1 1 1
369 IAS 26.32 Where plan investments are held for which an
estimate of fair value is not possible, has the reason
why fair value is not used been disclosed. 1 1 1 1 1 1
370 IAS 26.17 Does the report of a defined benefit plan contain
the following:
a. a statement that shows:
i. the net assets available for benefits; 1 1 1 1 1 1
ii. the actuarial present value of promised
retirement benefits, distinguishing between vested
benefits and non-vested benefits; and 1 1 1 1 1 1
iii. the resulting excess or deficit; or 1 1 1 1 1 1
b. a statement of net assets available for benefits
including either:
i. a note disclosing the actuarial present value of
promised retirement benefits, distinguishing
between vested benefits and non-vested benefits; or 1 1 1 1 1 1
ii. a reference to this information in an
accompanying actuarial report. 1 1 1 1 1 1
Page 82 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
371 IAS 26.19 Does the report explain the relationship between the
actuarial present value of promised retirement
benefits and the net assets available for benefits,
and the policy for the funding of promised benefits. 1 1 1 1 1 1
372 IAS 26.22 Does the report of a defined benefit plan contain
the following additional information:
a. a description of significant activities for the
period and the effect of any changes relating to the
plan, and its membership and terms and conditions; 1 1 1 1 1 1
and description of the investment policies.
b. a 1 1 1 1 1 1
INTERIM REPORTING
IAS 34.1 IAS 34 does not mandate whether an entity should
publish interim financial reports, how frequently, or
how soon after the end of an interim period.
However, IAS 34 applies if the entity is required or
elects to publish an interim financial report in
accordance with IFRS.
IAS 34.19 An interim financial report is not described as
complying with IFRS unless it complies with all of
the requirements of each applicable Standard and
each applicable Interpretation of the Standing
Interpretations Committee.
IAS 34.9 If the entity publishes a complete set of financial
statements in its interim financial report, the form
and content of those statements conform to the
requirements of IAS 1 for a complete set of
financial statements.
IAS 34.18 Other IFRS specify disclosures that are required to
be made in financial statements. In that context,
financial statements means complete sets of
financial statements of the type normally included
in an annual financial report and sometimes
included in other reports. The disclosures required
by those other IFRS are not required if an entity's
interim financial report includes only condensed
financial statements and selected explanatory notes
rather than a complete set of financial statements.
IAS 34.43 Guidance for reporting a change in accounting
IAS 34.44 policy in interim financial reports is provided by
IAS 34.43 and 44.
Components of condensed interim financial
statements
373 IAS 34.19 If the entity’s interim financial report is in
compliance with IAS 34, has that fact been 1 1 1 1 1 1
375 IAS 34.8 Do the interim financial statements include at least
the following components:
a. condensed Balance Sheet; 1 1 1 1 1 1
b. condensed Income Statement; 1 1 1 1 1 1
c. condensed statement showing either:
i. all changes in equity; or 1 1 1 1 1 1
ii. changes in equity other than those arising from
capital transactions with owners and distributions
to owners; 1 1 1 1 1 1
d. condensed Cash Flow Statement; and 1 1 1 1 1 1
e. selected explanatory notes. 1 1 1 1 1 1
376 IAS 34.10 Do the condensed financial statements include:
a. each of the headings and subtotals that were
included in its most recent annual financial 1 1 1 1 1 1
b. selected explanatory notes as required by
IAS 34; and 1 1 1 1 1 1
c. additional line items or notes whose omission
would make the condensed interim financial
statements misleading. 1 1 1 1 1 1
377 IAS 34.11 Does the entity present basic and diluted earnings
per share on the face of the Income Statement for
the interim period. 1 1 1 1 1 1
Periods to be included
378 IAS 34.20 Does the entity include in interim financial reports
(condensed or complete) the following statements:
a. Statement of financial position:
Page 83 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
– as of the end of the current interim period; and 1 1 1 1 1 1
– a comparative statement of financial position as
of the end of the immediately preceding financial 1 1 1 1 1 1
b. Statement of comprehensive income:
– for the current interim period; 1 1 1 1 1 1
– a comparative statement of comprehensive
income for the same current interim period of the
immediately preceding financial year; 1 1 1 1 1 1
– cumulatively for the current financial year to
date; and 1 1 1 1 1 1
– a comparative Statement of comprehensive
income for the same year to date current interim
period of the immediately preceding financial year; 1 1 1 1 1 1
c. statement showing changes in equity:
– cumulatively for the current financial year to
date; and 1 1 1 1 1 1
– a comparative statement for the comparable year-
to-date period of the immediately preceding
financial year; and 1 1 1 1 1 1
d. Statement of Cash Flows:
– cumulatively for the current financial year to
date; and 1 1 1 1 1 1
– a comparative statement for the comparable year-
to-date period of the immediately preceding
financial year. 1 1 1 1 1 1
379 IAS 34.21 If the entity’s business is highly seasonal, does it
disclose:
– financial information for the twelve months
ending on the interim reporting date; and 1 1 1 1 1 1
– comparative information for the prior twelve-
month period. 1 1 1 1 1 1
Explanatory notes
380 IAS 34.16 Does the entity include the following information in
the notes to its interim financial statements, if
material and if not disclosed elsewhere in the
interim financial report:
a. a statement that the same accounting policies and
methods of computation are followed in the interim
financial statements as were followed in the most
recent annual financial statements or, if those
policies or methods have been changed, a
description of the nature and effect of the change; 1 1 1 1 1 1
b. explanatory comments about the seasonality or
cyclicality of interim operations; 1 1 1 1 1 1
c. the nature and amount of items affecting assets,
liabilities, equity, net income, or cash flows that are
unusual because of their nature, size, or incidence; 1 1 1 1 1 1
d. the nature and amount of changes in estimates of
amounts reported in prior interim periods of the
current financial year, or changes in estimates of
amounts reported in prior financial years, if those
changes have a material effect in the current
interim period; 1 1 1 1 1 1
e. issuances, repurchases, and repayments of debt
and equity securities; 1 1 1 1 1 1
f. dividends paid (aggregate or per share) separately
for ordinary shares and other shares; 1 1 1 1 1 1
g. segment revenue and segment result for business
segments or geographical segments, whichever is
the entity’s primary basis of segment reporting
(disclosure of segment data is required in the
entity’s interim financial report only if IAS 14
requires that entity to disclose segment data in its
annual financial statements); 1 1 1 1 1 1
h. the following segment information (disclosure of
segment data is required in an entity's interim
financial report only if IFRS 8 requires that entity
to disclose segment information in its annual
financial statements):
Page 84 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
– revenues from
Reference Requirement external customers, if included in Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
the measure of segment profit or loss reviewed by
the chief operating decision maker or otherwise
regularly provided to the chief operating decision
maker; 1 1 1 1 1 1
– intersegment revenues, if included in the measure
of segment profit or loss reviewed by the chief
operating decision maker or otherwise regularly
provided to the chief operating decision maker; 1 1 1 1 1 1
– a measure of segment profit or loss; 1 1 1 1 1 1
– total assets for which there has been a material
change from the amount disclosed in the last annual
financial statements; 1 1 1 1 1 1
– a description of differences from the last annual
financial statements in the basis of segmentation or
in the basis of measurement of segment profit or 1 1 1 1 1 1
– a reconciliation of the total of the reportable
loss;
segments' measures of profit or loss to the entity's
profit or loss before tax expense (tax income) and
discontinued operations. However, if an entity
allocated to reportable segments items such as tax
expense (tax income), the entity may reconcile the
total of the segments' measures of profit or loss to
profit or loss after those items. Material reconciling
items shall be separately identified and described in
that reconciliation. 1 1 1 1 1 1
i. material events subsequent to the end of the
interim period that have not been reflected in the
financial statements for the interim period; 1 1 1 1 1 1
j. the effect of changes in the composition of the
entity during the interim period, including business
combinations, acquisition or disposal of
subsidiaries and long-term investments,
restructurings, and discontinuing operations; and 1 1 1 1 1 1
k. changes in contingent liabilities or contingent
assets since the last annual balance sheet date. 1 1 1 1 1 1
381 IAS 34.16, In addition to the information required above on a
IAS 34.17 financial year-to-date basis, does the entity also
disclose any events or transactions that are material
to an understanding of the current interim period
such as:
a. the write-down of inventories to net realisable
value and the reversal of such a write-down; 1 1 1 1 1 1
b. recognition of a loss from the impairment of
property, plant, and equipment, intangible assets, or
other assets, and the reversal of such an impairment
loss; 1 1 1 1 1 1
c. the reversal of any provisions for the costs of
restructuring; 1 1 1 1 1 1
d. acquisitions and disposals of items of property,
plant, and equipment; 1 1 1 1 1 1
e. commitments for the purchase of property, plant,
and equipment; 1 1 1 1 1 1
f. litigation settlements; 1 1 1 1 1 1
g. corrections of prior period errors; 1 1 1 1 1 1
h. any loan default or breach of a loan agreement
that has not been remedied on or before the balance
sheet date; and 1 1 1 1 1 1
i. related party transactions. 1 1 1 1 1 1
Interim financial reporting and impairment
(IFRIC 10)
382 IAS 1.117 Does the entity disclose its accounting policy in
relation to impairment losses recognised in an
interim period. 1 1 1 1 1 1
First-Time adoption requirements (IFRS 1)
Implementation Guidance of IFRS 1 paragraph IG
63 provides an example of the level of detail
required in the reconciliations from previous
standard to IFRS.
Page 85 of 86
Government
EVALUATION RESULT FOR GOVERNMENT INSTITUTIONS
ENTITY A ENTITY B ENTITY C ENTITY D ENTITY E ENTITY F
Reference Requirement Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A Yes No N/A
383 IFRS 1.45 If the entity presents an interim financial report
under IAS 34 for part of the period covered by its
first IFRS financial statements, does the entity meet
the following requirements:
a. does the entity disclose a reconciliations of:
– its equity under previous standard at the end of
that comparable interim period to its equity under
IFRS at that date; 1 1 1 1 1 1
– its current profit or loss under previous standard
for that comparable interim period to its profit or
loss under IFRS for that period; and 1 1 1 1 1 1
– its year-to-date profit or loss under previous
standard for that comparable interim period to its
profit or loss under IFRS for that period; 1 1 1 1 1 1
IFRS 1.39, b. does the entity disclose the following
IFRS 1.40, information in its interim financial report or cross
IFRS 1.45 refer to another published document that contains
i. reconciliations
this information: – that give sufficient detail to
enable users to understand the material adjustments
to the Balance Sheet – of its equity reported under
previous standard to its equity under IFRS for:
– the date of transition to IFRS; and 1 1 1 1 1 1
– the end of the latest period presented in the
entity’s most recent annual financial statements
under previous standard; 1 1 1 1 1 1
ii. a reconciliation – that gives sufficient detail to
enable users to understand the material adjustments
to the Income Statement – of the profit or loss
reported under previous standard for the latest
period in the entity’s most recent annual financial
statements to its profit or loss under IFRS for the
same period; 1 1 1 1 1 1
iii if the entity presented a cash flow statement
under its previous standard, does it explain the
material adjustments to the cash flow statement; 1 1 1 1 1 1
IFRS 1.41 anddoes the entity separately disclose:
iv.
– in the reconciliations of equity: 1 1 1 1 1 1
– any errors made under previous standard; and 1 1 1 1 1 1
– changes in accounting policies; 1 1 1 1 1 1
– in the reconciliation of profit or loss: 1 1 1 1 1 1
– any errors made under previous standard; and 1 1 1 1 1 1
– changes in accounting policies. 1 1 1 1 1 1
384 IFRS 1.46 If the entity did not, in its most recent annual
financial statements under previous standard,
disclose information material to an understanding
of the current interim period, does it disclose in its
interim financial report that information or include
a cross-reference to another published document
that includes it?. 1 1 1 1 1 1
314 31 940 250 88 947 272 72 941 247 96 942 249 92 944 257 87 941
1,285 1,285 1,285 1,285 1,285 1,285
1,254 1,197 1,213 1,189 1,193 1,198
1 4 2 6 5 3
345 338 344 343 341 344
91.01% 73.96% 79.07% 72.01% 73.02% 74.71%
Page 86 of 86
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