ICAEW.com works better with JavaScript enabled.

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.

What's on this page?

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

Contact the Library

Expert help for your enquiries and research.

E  library@icaew.com

T  +44 (0)20 7920 8620

Full text standard

Unaccompanied version of IAS 37
The International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website. Free registration is required.

This unaccompanied version does not include additional content that accompanies the full standard, 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 collected by the ICAEW Library.

Best practice

Company Reporting (Croner-i)
The ICAEW Library can provide examples of real-life company reports to help keep you up-to-date with reporting practices and benchmark your financial reporting compliance. As well as extracts from reports filed by all major public companies, Company Reporting also offers weekly CR Monitor Reports detailing changes to reporting practice and a broader monthly CR Review.

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


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 2018: Interpretation and application of IFRS standards
PKF (2018)
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.

IASB news

Date Update
13 December 2018 IASB proposes clarifications for companies assessing whether contracts will be loss-making
Press release from the IASB, published on 13 December 2018, announcing proposed amendments to IAS 37 to specify which costs a company should include when assessing whether a contract will be loss-making.

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.

Thematic Review: IAS 37 Provisions, Contingent Liabilities and Contingent Assets
FRC, October 2021
Report summarising the FRC's review of IAS 37 disclosures and related information across a sample of companies' annual reports and accounts. It highlights scope for improvement in the disclosure of quantitative information on expected timing of future outflows, the key assumptions used to estimate outflows, and the associated uncertainties.

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. 

Related IFRIC interpretations

IFRIC 21: Levies

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

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.

Online articles

The Library provides access to leading business, finance and management journals. These journals are available 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 through our document supply service.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com.

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.