IAS 37 Provisions, Contingent Liabilities and Contingent Assets

Roles that need it

• General Accountant
• Group Reporting Accountant
• External Audit Associate
• Legal Counsel
• Business Controller

Skills it belongs to

• International accounting standards (IFRS)
• Risk judgment and escalation instinct

Related concepts

• Statutory accounts (annual financial statements)Statutory accounts are the annual financial statements an entity must prepare and file under company law, under local GAAP or IFRS. In the EU, listed groups use IFRS for consolidated accounts under the IAS Regulation, and the Accounting Directive sets the content for local accounts.
• Accrual accountingAccrual accounting records income and expenses in the period they are earned or incurred, regardless of when cash moves. Accruals, prepayments and deferred income adjust the books at period end. IFRS and the EU Accounting Directive require it.

Sources

• IAS 37 Provisions, Contingent Liabilities and Contingent Assets, IFRS Foundation (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.