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IAS 37: Provisions, contingent liabilities and contingent assets

The accounting standard IAS 37 ensures that the appropriate recognition criteria and measurement bases are applied to provisions, contingent liabilities and contingent assets. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.

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  • Full-text standard
  • Summaries
  • Guidance and support from ICAEW
  • Example accounts
  • eBooks
  • Guides
  • Online articles
  • Articles and books from the Library

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Full-text standard

The IFRS Foundation and International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website; you will need to register to gain access.

These standards are the unaccompanied versions and do not include any additional content that accompanies the full IAS and IFRS such as illustrative examples, implementation guidance and bases for conclusions.


IAS 37 – Provisions, Contingent Liabilities and Contingent Assets
Timeline and summary from Deloitte IAS Plus, with information on related interpretations and amendments under consideration.

Provisions, contingent liabilities and contingent assets
Topic summary provided by PwC, giving latest developments and overview, a summary of the standard and links to relevant resources.

ICAEW guidance and support

Financial Reporting Faculty
The faculty offers assistance and support in IFRS, UK GAAP and other aspects of business reporting. It offers technical briefings and factsheets, IFRS and UK GAAP standards-trackers, plus practical advice from industry experts and working accountants.

Example accounts

IFRS checklists and model financial statements
Online disclosure checklists, general IFRS illustrative statements and compliance questionnaires compiled by the ICAEW Library.

Best practice

Company Reporting
The ICAEW Library can provide extracts of reports to illustrate real-life best practice from CCH's Company Reporting tool. Extracts are searchable by industry sector, subject, company, auditor, listing status and year end date. The product also offers reports with summaries and commentary (with examples) on common practices and emerging issues, as well as an ongoing monitor of changing practices.

  • IAS 37 'Provisions, contingent liabilities and contingent assets' CR Extracts
  • Provisions under IFRS
  • Brexit Disclosures in Listed Company Annual reports

Contact us on +44 (0)20 7920 8620, by web chat, or at library@icaew.com to get any documents from Company Reporting.

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The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

IFRS 2017: Interpretation and application of IFRS standards
Erwin Bakker (2017)
This Wiley guide has been fully updated to help practitioners apply and comply with the latest international financial reporting standards. It provides detailed guidance along with illustrative examples. The chapter on current liabilities, provisions, contingencies and events after the reporting period covers:

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Guides and publications

Some guides and comparisons that we link to may pre-date the latest amendments to this standard. While these resources contain useful information, please treat them with appropriate caution.

IFRIC 21: Levies
Guide produced by PwC in October 2014 summarising the key accounting implications of the interpretation which sets out guidance for recognising an obligation to pay a levy that is not income tax.

Recognising liabilities arising from lawsuits
IASB Staff Paper published on 7 April 2010 explaining how new criteria in the proposed IFRS replacing IAS 37 will apply to liabilities and why changes are being made.

New on the Horizon: Measurement of liabilities in IAS 37
Bulletin from KPMG, published March 2010, discussing proposed amendments and requirement to IAS 37.

Related IFRIC interpretations

IFRIC 21: Levies

IFRIC 21 – Levies
Summary and history from Deloitte IAS Plus.

IFRS IC issues an interpretation on the accounting for levies
Bulletin issued by PwC in May 2013 looking at the scope and key provisions of IFRIC 21.

IASB issues IFRIC Interpretation 21: Levies
Project update released by the IASB on 20 May 2013.

IFRIC 6: Liabilities arising from Participating in a Specific Market – Waste Electrical and Electronic Equipment

IFRIC 6 – Liabilities Arising from Participating in a Specific Market – Waste Electrical and Electronic Equipment
Summary and history from Deloitte IAS Plus.

Liabilities arising from Participating in a Specific Market – Waste Electrical and Electronic Equipment (UITF Abstract 45)
Abstract issued by the Urgent Issues Task Force on 13 February 2007 which has the effect of implementing IFRIC 6 in the UK and the Republic of Ireland.

UITF Information Sheet 83
Guidance published alongside the UITF Abstract 45 on 13 February 2007.

Other resources

IFRS Learning
Interactive training modules from Deloitte with practical scenarios, worked examples and questions to test your knowledge. Each module is available to download as a zip file free of charge (registration is required).

Online articles

The library provides access to a range of articles in full text from leading business, finance and management journals. Access to articles is provided to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Articles and books in the Library collection

To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

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