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GRI 2: General Disclosures

Disclosure GRI 2-4

Restatements of information

Practical guidance for preparing this disclosure. Use this card to identify datapoints, verify claims and organise supporting evidence. For exact requirements, always refer to the official GRI source.

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Reviewed by Dr Ross Kurinko LinkedIn Strategic ESG Advisor · IFRS S1 & S2 / GRI / ESRS expert GRI Certified Global Trainer · PhD, Cambridge · ESG-AI expert 15+ years on FTSE 100 & Fortune Global 500 disclosures Canary Wharf, London LRA educational guidance · Not issued or endorsed by GRI

Real report See how 3 companies report this ↓

Tanla Platforms Limited

Also seen in

Sims Limited

Kakao Corp.

To prepare this disclosure

2datapoints↓ 4claims to verify↓ 5evidence areas↓ 3report examples↓

Disclosure focus

This disclosure asks an organisation to be transparent when it has changed information it reported previously. If a figure, description, or boundary has been corrected or updated, the organisation should say what was restated and why, so readers can understand that the current report is not directly comparable with the earlier version without that explanation.

The practical focus is on clarity and consistency across reporting periods. The organisation should help users see whether the restatement affects only a small part of the information or changes the picture more broadly across the reporting boundary, rather than leaving readers to assume that all reported data are unchanged from one year to the next.

This LRA educational guidance supports disclosure preparation. For the exact requirements, always refer to the official GRI source.

Before you start

A quick mental checklist before you prepare this disclosure — tick each as you settle it.

Have any figures or statements from an earlier reporting period been revised, and if so, which items are affected? Can you explain, in plain business terms, why those earlier numbers or statements changed? Have you checked what the revised figures mean for the reported picture, and can you describe the impact clearly? Are the restated items traceable back to a source record or working paper so the change can be followed? Have you settled which version, date range, and calculation basis you will use when comparing the old and revised information?

Preparation

Key datapoints to prepare

Datapoint What to capture Evidence hint Owner

Prior-period restatement reasons A clear note of any figures or narrative from an earlier reporting period that have been revised, plus the reason the earlier information was changed. Version history, prior-year report, adjustment memo, sign-off note from finance or reporting team. Finance / Reporting

Prior-period restatement impact A clear note of any figures or narrative from an earlier reporting period that have been revised, plus the effect of the change on the reported information. Revised schedules, bridge from old to new figures, prior-year report, finance review pack. Finance / Reporting

＋ Show GRI 2-4 sub-elements (LRA working checklist)

If you have revised figures or narrative from earlier periods, state what changed and what the revision means for the reported information. If you have revised figures or narrative from earlier periods, state what changed and why the revision was made.

How to prepare it

1Identify any figures or statements you have changed from an earlier reporting period, so you know which items need to be carried forward into this year’s disclosure.

2For each changed item, set out why the earlier information has been revised, using a clear business explanation that a reader can follow.

3For each revision, capture what difference it makes to the reported information, so the impact of the change is visible alongside the updated figure or narrative.

4Gather the supporting records that show both the earlier version and the revised version, together with the basis for the change and its effect.

5Prepare the disclosure in a way that links each restated item to its explanation and impact, and make sure nothing relevant is left out.

6Check the final wording against the official source to confirm you have covered every required restatement and both explanations, without adding anything extra.

Request the data

Request prior-period adjustment log and explanations

Translate the disclosure into an internal business question — then adapt it to your organisation's own language.

What changes were made to previously reported figures or statements, and why did those changes happen?

Use your organisation’s own wording first, then map it to this disclosure. For example, ask for prior-period adjustments, reclassifications, corrections, or revised figures if those are the terms your teams use. Keep the request in business language and check the source material before sign-off.

Weak request

Please provide the GRI 2-4 restatements disclosure data.

Why it fails: This uses framework language only and does not tell the owner what practical records to pull, which period to cover, or what details are needed to explain the change and its effect.

Better request

Please send the list of any prior-period updates to reported figures or narrative, with the reason for each update, the effect on the reported output, and the source record or version reference for each item.

Formal email template

Subject: Request for prior-period changes log and supporting notes

Hi [name],

We are preparing the sustainability report and need a summary of any changes made to figures or statements that were already shared for earlier periods.

Could you please send:
- a list of the items that were updated;
- the reason each item was changed;
- the effect of each change on the reported numbers or narrative; and
- the source record or file showing the change.

Please include the reporting period, business area, version reference, and the person who approved the update.

A possible LRA training template is attached below for reference. Please adapt this to your organisation’s own terms, and check the source material before sign-off.

Thanks,
[preparer name]

Short Teams / Slack version

Hi [name] — could you share the log of any prior-period updates, plus the reason for each change and the impact on the reported figures/text? Please include the period, business area, version reference, and source file. Thanks.

Industry examples

Manufacturing

Context. A plant’s energy and waste figures were corrected after a meter mapping issue was found in the monthly reporting file.

Adapted request. Please share any prior-period corrections to plant reporting, including what was changed, why it was changed, the effect on the reported figures, and the workbook or system record that shows the update. Include the site, period, and approval details.

Example response. Site: Leeds Plant; Period: Q2 FY2025; Item updated: electricity use; Earlier value: 1,240 MWh; Revised value: 1,180 MWh; Reason for update: meter mapping error; Impact summary: reduced reported electricity use by 60 MWh; Source reference: Energy close workbook v4; Approved by: Site Controller; Approval date: 12 July 2025.

Financial services

Context. A group reporting pack was revised after a late change to the way a business line was classified in the internal management report.

Adapted request. Please provide any prior-period revisions to the group reporting pack, including the item changed, the reason, the effect on the reported output, and the pack version or control log entry. Please include the business line, period, and approver.

Example response. Business line: Retail lending; Period: FY2024; Item updated: customer count by segment; Earlier value: 48,200; Revised value: 46,900; Reason for update: segment mapping revised after review; Impact summary: reduced retail lending customer count by 1,300; Source reference: Group pack control log CL-2024-18; Approved by: Reporting Lead; Approval date: 03 February 2025.

Draft your disclosure

Notes that turn data into a disclosure

LRA training templates — adapt them to your organisation, and check the official source before sign-off.

Method note

State which earlier reporting periods were updated, explain the basis used to identify those revisions, and describe the approach taken to calculate their impact.

Context note

Explain what the revised figures mean for the reported story, including how the updates change the reader’s understanding of the earlier periods.

Fluctuation statement

If any revision is material or unusual, note what drove it and whether the effect was to raise, lower, or otherwise alter the previously reported numbers.

Content index entry

GRI 2-4 Restatements of information — [location / page] / [notes]

Download Centre

Preparation tools & forms

Professional preparation tools for GRI 2-4 — free with an LRA Community membership. Register once (it's free) and every download unlocks, together with the Disclosure Library, templates and the LRA AI-assistant.

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01XLSPrep & Assurance workbookDatapoints, risks, evidence to check, owner and evidence pack.Get it free ↧ 02XLSData-request packRequest email, message template, response fields and sign-off structure.Get it free ↧ 03PDFLibrary CardPrintable one-page summary of this disclosure card.Get it free ↧

Go deeper · GRI 2-4

Learn to prepare this disclosure end-to-end

This guide covers one disclosure. The GRI Standards Certified Training — taken as a bundle with an ESRS course — walks the full workflow: datapoints, evidence, drafting and assurance, with exercises on your own data.

Available as Guided Flex, Live Cohort, 1:1 Expert Mentorship or Corporate Programme.

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Assurance readiness

For each claim, check the evidence

ClaimRiskEvidence to check

The information reported for this disclosure reconciles to the underlying source records.What is reported cannot be traced back to the systems or documents it was drawn from, or does not tie out to them.calculation_workbook reconciling the reported value to source_system_export

The information reported for this disclosure is current as at the reporting date.The disclosure reflects a different period, a cut-off before the reporting date, or stale data carried over from a prior period.approval_record showing the data cut-off date and the period covered

The scope behind the information reported for this disclosure is applied consistently.Parts of the organisation are silently in or out of scope, or the scope differs from the prior period without that change being explained.methodology defining the scope and a site_register of what it covers

Everything in scope is included in the information reported for this disclosure — nothing material is left out.Parts of the population that should be reported are omitted, understating or overstating the disclosure.site_register of the full population vs the calculation_workbook of what was actually included

Evidence pack to prepare

The governing policy or written commitment behind this disclosureA methodology / definition note setting out how the disclosure was scoped and preparedSource-system exports the figures or facts were drawn fromThe internal approval / sign-off record for the disclosure before publicationMinutes or records evidencing the relevant engagement or consultation

Common reporting gaps

The information is presented without a date or as-at point.The scope or boundary of the statement is left undefined.Key terms are used inconsistently across the report.Material changes since the previous period are not disclosed.Assertions are made without supporting detail or a source record.Boilerplate is used that does not actually answer what is asked.

Common gaps

Mistakes to avoid when collecting the data

Wrong owner asked

The team chases the disclosure lead instead of the person who actually changed the figures, so the reason and the impact are collected from hearsay rather than the source team.

Framework language used too early

People ask for answers in reporting jargon instead of the business terms used by finance, HR, operations or the data owner, which slows down retrieval and creates mismatches.

Scope left vague

No one pins down which prior reporting periods, which datasets, or which business units are in scope, so some restatements are counted while others are missed.

Timing basis not fixed

The collector mixes updates from different cut-off dates or reporting cycles, so the restatement relates to one period while the explanation is pulled from another.

Counting basis mixed up

Headcount, monetary values and percentage changes are gathered together without separating the method used for each, which makes the effect impossible to compare cleanly.

Original source labels lost

The team copies figures into a summary sheet without keeping the source file names, version tags or local labels, so the trail back to the original change is broken.

Separate populations merged

Restatements for different entities, sites or data sets are blended into one total even though they should stay distinct, which hides where the change actually happened.

Evidence notes missing

The collector saves the number but not the supporting context, such as who supplied it, when it was pulled and which file it came from, so later review cannot verify it.

No sign-off trail

The final data pack is passed on without a named reviewer or approval record, leaving no clear proof that the reason and effect were checked before drafting.

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Where judgement is often needed

Acquisition or disposal changes the reporting perimeter

If a business bought or sold during the year changes what sits inside the reporting set, explain whether prior-period figures were rebuilt on the new perimeter or left as originally reported, and state the reason for that choice.

Different country definitions for the same metric

Where local teams use different definitions for the same measure, pick one basis for the comparison set, describe the definition used, and explain any restated figures needed to keep the periods comparable.

People or sites near the boundary of scope

For workers, locations, customers or other items that sit close to the inclusion line, set out the rule used to include or exclude them, and disclose any restatement if that rule changed from one period to the next.

Cut-off date for bringing data into the period

If information is captured at different points in time across the business, state the cut-off used for the comparison figures and explain any later adjustment that led to a restatement.

Measured data versus estimates

When some prior-period numbers come from direct records and others from estimates, say which figures were estimated, what changed in the later version, and how that change affected the restated amount.

Rounding and small differences

If totals shift only because of rounding or minor reconciliation differences, explain the rounding basis used and whether the prior-period numbers were updated or left unchanged.

Privacy limits on small-group reporting

Where small populations must be grouped or masked to protect privacy, describe the aggregation rule, note any impact on earlier figures, and explain whether that led to a restatement.

System or methodology change after publication

If a new system, model or calculation method replaces the old one, state whether earlier periods were recalculated on the new basis and explain the effect on the reported numbers.

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Examples

Illustrative examples

Synthetic, written by LRA — not from a company report, not text from any standard.

Illustrative (synthetic) example — Consumer goods manufacturing

In our 2025 report, we corrected prior-year figures after a data review found that one site had been excluded from the 2024 consolidation set. The revision changed the 2024 total workforce from 4,800 to 5,000, so the reported figure increased by 200 people, and it also lifted the 2024 injury count from 24 to 25; we explain these changes because the earlier version was incomplete and the updated numbers now reflect the full group. - The main reason was a boundary error in the earlier dataset. - The effect was a higher headcount and a slightly higher incident total for the prior year, with no change to the current-year figures.

This example shows how to flag a prior-period correction, say why the earlier numbers changed, and state the practical impact on the reported figures.

Illustrative (synthetic) example — Retail logistics

We restated last year’s warehouse energy use after replacing an estimated value with meter-based data for one distribution centre. The 2024 electricity figure moved from 12,000 MWh to 11,400 MWh, and the share of renewable electricity in that same year changed from 40% to 42% because the corrected denominator was lower; we set out both the reason for the revision and its effect so readers can see what changed and by how much. - The correction came from better source data for one facility. - The effect was a lower total energy figure and a higher renewable share for the prior year.

This example shows a restatement driven by improved data quality, with both the cause and the numerical effect explained in plain language.

Company reportsReal published reports

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How companies report GRI 2-4 in practice

Real reports where this topic is disclosed. These are report practice, not exact disclosure templates to copy.

Tanla Platforms Limited

Software and Services · India · 2025

Open report →

Tanla Platforms Limited’s Integrated Report FY25 includes a covered datapoint related to restatements aimed at ensuring consistency and comparability of information for the current and previous years, specifically referencing products and services under GRI 2-6 on page 194. However, there is no found evidence for narrative item (a-ii) in the report. Additional pages contain references to payment due periods and transactions with owners, but these do not clearly address the disclosure in question.

Sims Limited

Solid Waste Management Utilities · Australia · 2025

Open report →

Sims Limited’s 2025 Sustainability Report includes a covered datapoint on restatements made in FY25 related to Scope 1 emissions, as noted on page 48. The report also references external assurance and restatements of information on page 62, indicating attention to data accuracy. However, there is no found evidence regarding narrative item (a-ii), suggesting that some specific disclosure elements remain unaddressed or unclear in the report.

Kakao Corp.

Media · South Korea · 2024

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Kakao Corp.'s 2024 ESG Report provides a reported value related to Scope 3 emissions and notes an expansion of calculation boundaries on page 144. There is partial supporting context regarding user protection activities and their significant effect on privacy protection and information security on page 18, though no headline value is given. Notably, the report lacks clear headline figures for some narrative items and detailed disclosures on governance roles or stakeholder engagement within the provided excerpts.

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Check your understanding

Scenarios to work through

Last year’s workforce figures were published before a payroll system fix was completed. After the fix, the team found that one prior-year headcount figure had been overstated, so the current draft includes the corrected number.

QHow should the preparer handle this in the narrative for this disclosure?

Reveal model answer →Hide answer ↑

The draft should note that a figure from an earlier reporting period has been revised and give the reason for that revision. It should also explain what changed as a result, so readers can see both why the earlier number was adjusted and what the correction means for the reported information.

Why this matters · When an earlier-period figure is changed, explain both the cause of the change and its impact on the reported information.

A prior-year emissions total was recalculated after a data source was replaced with a more complete one. The revised total is lower than the figure previously published, and the reporting team is deciding whether to mention only the new number.

QWhat should the preparer include alongside the updated figure?

Reveal model answer →Hide answer ↑

The narrative should not stop at the new number. It should say that a previous-period figure has been restated, give the reason for the update, and describe the effect of the change on the reported information, so the reader understands both the adjustment and its consequence.

Why this matters · A restated figure needs context: why it changed and what difference the change makes.

A sustainability metric for the prior year was corrected after a calculation error was found. The team has the revised value and a short note about the error, but has not yet drafted any explanation of how the correction affects the published trend.

QWhat decision should the preparer make before sign-off?

Reveal model answer →Hide answer ↑

The preparer should add an explanation of the effect of the correction, not just the reason for it. The disclosure needs to show that an earlier-period item was revised, why that happened, and what the revision means for the information presented in the report.

Why this matters · Do not leave the reader guessing about the consequence of a restatement.

A comparative table shows last year’s water-use figure has been updated after a meter-reading issue was resolved. The team wonders whether a brief note saying 'prior year corrected' is enough.

QIs that enough for this disclosure, or is more explanation needed?

Reveal model answer →Hide answer ↑

That would be too thin on its own. The disclosure should identify that information from an earlier period has been revised, explain the reason for the revision, and explain the effect of the revision on the reported information. A bare note does not give enough context for the reader to understand the change.

Why this matters · A restatement note should be informative, not just a label for a corrected number.

Framework references

Related framework references

How this disclosure maps across the major reporting frameworks.

GRI

GRI 2-4

within GRI 2: General Disclosures

Open official source →

Primary

Related & explore

Organizational details → Guide ✓Nomination and selection of the highest governance body → Guide ✓Chair of the highest governance body → Guide ✓Role of the highest governance body in overseeing the management of impacts → Guide ✓Delegation of responsibility for managing impacts → Guide ✓Role of the highest governance body in sustainability reporting → Guide ✓Show all 29 related disclosures →

More in GRI 2 →Browse full catalogue →Disclosure Library home →Search all disclosures →

Go deeper · GRI 2-4

Learn to prepare this disclosure end-to-end

Available as Guided Flex, Live Cohort, 1:1 Expert Mentorship or Corporate Programme.

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FAQ

Questions this page answers

For GRI 2-4, what data do I need to collect before I start drafting the disclosure?+−

The page says to prepare the prior-period restatement reasons and the prior-period restatement impact. It also gives a step-by-step preparation section, so you can use that to turn the disclosure into a data-collection checklist.

How do I use the step-by-step 'how to prepare' section for GRI 2-4 in practice?+−

Use it as a working guide to move from understanding the disclosure to gathering the right inputs, checking scope, and building a draft. The page is designed to help you prepare the disclosure rather than just describe it.

What should I include in the evidence pack for GRI 2-4 if I want to be assurance-ready?+−

The page includes an evidence pack with five items for assurance readiness, so it is meant to help you assemble support for the disclosure before review. Use it alongside the assurance claims to make sure the draft can be traced back to source material.

What are the assurance claims I need to verify for GRI 2-4?+−

The page lists four assurance claims to verify, each with a claim, risk and evidence prompt. That makes it useful for checking whether the disclosure is supported and where the main assurance risks sit.

What are the most common mistakes or reporting gaps on GRI 2-4?+−

The page has a section on common reporting gaps and mistakes, which you can use as a pre-submission check. It is intended to help you spot missing detail, weak support or inconsistent reporting before the draft is finalised.

How do I turn the GRI 2-4 data into a draft narrative and content-index line?+−

The page includes draft-output support, including narrative starters and a GRI content-index line. You can use those to turn the collected data into a first-pass disclosure and then tailor the wording to your company’s facts.

Are there example disclosures for GRI 2-4 that I can use as a model?+−

Yes, the page shows synthetic illustrative examples, including a quantitative table where relevant. They are there to show how the disclosure might look in practice, but they are not real company disclosures.

How should I use the Prep & Assurance workbook for GRI 2-4?+−

The Download Centre includes a Prep & Assurance workbook in .xlsx format, which is meant to support preparation and assurance readiness. Use it to organise the required inputs, evidence and review steps before drafting.

What is the printable Library Card for GRI 2-4 used for?+−

The Download Centre also includes a printable Library Card in .pdf format. It is a practical companion for keeping the disclosure requirements, preparation steps and evidence prompts in one place.

Where can I find real published company reports that disclose this topic?+−

The page has a 'From company reports' table that links to real published reports at the pages where the topic is disclosed. You can use it to see how other companies have presented the topic in practice.

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	Report A	Report B	Report C
Datapoint 1	✓ p.213	unclear	✓ p.87
Datapoint 2	✓ p.214	—	✓ p.90

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Restatements of information

Key datapoints to prepare

How to prepare it

Request prior-period adjustment log and explanations

Notes that turn data into a disclosure

Preparation tools & forms

For each claim, check the evidence

Evidence pack to prepare

Common reporting gaps

Mistakes to avoid when collecting the data

Where judgement is often needed

Illustrative examples

How companies report GRI 2-4 in practice

Scenarios to work through

Related framework references

Questions this page answers

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