IFRS judgements that Tanzanian boards should watch
Boards do not need to be IFRS specialists. They do need to know which judgements move the numbers and who owns the evidence behind them.
Three areas that come up often
- Expected credit losses on receivables and loans — the model and the data that feed it
- Leases — whether contracts are on the statement of financial position
- Related parties — completeness of disclosures, not only the amounts already listed
What to ask management
Ask for the paper that sets out the judgement, the numbers it changes, and what would make the conclusion different. That pack is what an IFRS review tests. For year-end work see statutory audit or contact the firm.