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Chapter 12

Example 8

Which of the following disclosures are required by IFRS 7 Financial
Instruments: Disclosures?

A Specific Standard Disclosures and General Standard Disclosures

B Economic, environmental and social disclosures

C Quantitative disclosures only

D Qualitative disclosures and quantitative disclosures

Solution

The answer is (D).

Specific Standard Disclosures and General Standard Disclosures are required
under the provisions of the GRI’s G4 Guidelines (NOT IFRS 7).

Economic, environmental and social disclosures are the GRI’s Specific
Standard Disclosures categories (under the general heading of 'Indicators').

IFRS 7 requires both qualitative disclosures and quantitative disclosures.

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