Financial Instruments: Meeting Disclosure Requirements Defined by IFRS 7 in Energy Industry in the Czech Republic

AbstractIFRS 7 has brought new requirements on disclosure of financial instruments to be included in the financial statements prepared in accordance with the International Financial Reporting Standards. We tested coverage of the requirements on disclosure of financial instruments in the financial statements according to IFRS in the energy industry in the Czech Republic. The energy industry was selected as the representative of the production industry where financial instruments occur but are not the major business focus – contrary to the financial or banking sector