IFRS Archives - Leaf Quality Systems (Pty) Ltd

Recap of 2025

2026-02-03T14:48:19+02:00

As we come to the close of 2025, it’s appropriate to reflect on key articles and updates communicated throughout the year. In this article, we identify key takeaways and focus areas for 2026. Articles The following topics were addressed in the monthly articles issued during 2025: Updates to requirements Audit quality findings Practical application guidance Changes in SAICA Training Regulations (January) Bending the Rules (February) Proactive Audit Quality: A Continuous Improvement Approach under ISQM 1 (March) Audit of Body Corporates and Homeowners’ Associations (April) Professional Scepticism [Business rationale for significant transactions (journal [...]

IASB Issues Illustrative Examples on Reporting Uncertainties in Financial Statements

Leaf Quality Systems2025-12-09T13:32:29+02:00

LATEST UPDATE IASB Issues Illustrative Examples on Reporting Uncertainties in Financial Statements The International Accounting Standards Board (IASB) has issued illustrative examples demonstrating how companies may apply IFRS Accounting Standards when reporting the effects of uncertainties in their financial statements. The examples use climate-related scenarios as practical illustrations, but the underlying principles apply more broadly to all uncertainties. According to stakeholders, the information companies provide about the effects of uncertainties is sometimes insufficient, or appears inconsistent with the information provided outside their financial statements. To help address this, the IASB developed these illustrative examples to [...]