What the document covers
The guidance addresses macroeconomic changes, developments in accounting standards and audit quality. It supports directors reviewing FY2024 financial statements.
Specific requirements and implications
Expected credit losses should reflect current, forward-looking information and a reasoned weighting of possible outcomes. Cash-flow growth and discount assumptions need to respond consistently to inflation and interest rates. An impairment at subsidiary level may also prompt a separate assessment of the parent's investment, though the calculations are not identical. Meaningful disclosures should explain the actual assumptions used, rather than simply reproduce standard wording about uncertainty.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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