What the document covers
The guidance is directed particularly to directors and audit committees reviewing FY2023 statements under ACRA's surveillance programme.
Specific requirements and implications
Higher discount rates can reduce asset values and narrow covenant headroom at the same time. Directors should assess maturing borrowings and credible refinancing plans, updating cash-flow expectations through financial-statement authorisation. Where reasonable changes in assumptions would eliminate impairment headroom, relevant sensitivity disclosures matter. A conclusion that the business remains a going concern does not remove the need to disclose material uncertainties or significant judgements supporting that conclusion.
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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