a)

i) Impact of sustainability and climate-related risks

• Impairment of Assets (IAS 36)

• Provisions (IAS 37)

• Contingent Liabilities

• Useful lives and residual values (IAS 16)

• Going Concern

• Disclosures (IFRS 7, IFRS 13, IAS 1)

ii) IASB Actions

• Educational material on climate-related risks (2020)

• Support for ISSB and issuance of IFRS S1 and S2

• Agenda consultation focus

• Integrated reporting collaboration

• Improved coherence initiatives

b)

i) Governance Issues

• Lack of board independence

• Infrequent board meetings

• Absence of board committees

• Conflict of interest

ii) Ghana Corporate Governance Code Application

• Board composition requirements

• Board effectiveness and meetings

• Committees requirement

• Conflict disclosure rules

c) IAS 41 Initial Measurement

Biological assets are measured on initial recognition and at each reporting date at:

Fair value less costs to sell

Gains or losses from changes in fair value are recognised in profit or loss.

Exception:
If fair value cannot be measured reliably → measure at cost less accumulated depreciation and impairment until fair value becomes reliably measurable.