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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, University of 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↓ 9claims to verify↓ 10evidence areas↓ 3report examples↓

Disclosure focus

Disclosure 2-4 requires an organisation to report any restatements of information from previous reporting periods and explain the reasons for and effects of each restatement. A restatement is a revision of information previously reported for an earlier period. Internal corrections made before information is published do not constitute a restatement under Disclosure 2-4.

Restatements can arise from an error, a change in the base period or length of the reporting period, a change in the nature of the business, a change in measurement methodology or definitions, or a disposal, merger or acquisition. An ordinary year-on-year movement, a future-only methodology change, a target update or a correction that does not affect previously reported information is not automatically a restatement.

GRI Guidance says the organisation should disclose the criteria used to determine whether a change or error is significant enough to require a restatement. The assessment should consider whether the change could influence information users’ decisions. For quantitative information, the organisation should specify the quantitative change, for example by showing the originally reported value, the restated value and the resulting absolute or percentage change.

If no restatements were made during the reporting period, a brief direct statement is sufficient. Reasons for omission are not permitted for Disclosure 2-4.

The two datapoints below are an LRA operational decomposition of the reasons and effects contained within the single requirement in Disclosure 2-4-a; they are not separate official GRI disclosures.

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.

Has any information published for a previous reporting period been revised, or are the identified changes only internal corrections made before publication? 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 applied the documented restatement criteria and, if no restatements were made, prepared a direct statement to that effect?

Preparation

Key datapoints to prepare

Datapoint What to capture Evidence hint Owner

Prior-period restatement reasons For each revision of previously reported information, identify the affected reporting period, disclosure, table or KPI and explain the specific reason for the restatement. Previous sustainability report, restatement register, change log, methodology note and approval record. Finance, Sustainability Reporting and relevant topic data owners

Prior-period restatement impact For each restatement, explain its consequences. For quantitative information, show the originally reported value, restated value and absolute or percentage change. Original and recalculated workbook, old-to-new bridge, corrected comparative tables and cross-report consistency check. Finance, Sustainability Reporting and relevant topic data owners

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

Report revisions of information previously reported for earlier periods and explain the reason for each restatement. Explain the effect of each restatement; for quantitative information, GRI Guidance recommends specifying the quantitative change. Document and disclose the criteria used to decide whether a change or error is significant enough to require a restatement (GRI Guidance). If no restatements were made, state this directly. Reasons for omission are not permitted.

How to prepare it

1Compare the current draft with information published for previous reporting periods. Exclude internal corrections made before publication, ordinary year-on-year movements and future-only changes that do not revise previously reported information.

2Apply the organisation’s documented restatement criteria and record why each change or error is significant enough to require revision of previously reported information.

3For each restatement, record the affected period, disclosure, table or KPI and explain the specific reason for the revision.

4Explain the effect of each restatement. For quantitative information, capture the originally reported value, restated value and absolute or percentage change.

5Reconcile every revised comparative value across the sustainability report, ESG data book, tables, charts and GRI content index, and retain the calculation and approval trail.

6If there were no restatements, add a direct statement to that effect. Otherwise, check that every qualifying restatement has both a reason and an effect and that no reason for omission is used.

Request the data

Request the restatement register, quantitative bridge and explanations

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

Which information published for previous reporting periods has been revised, why was it restated, and what is the effect?

Send the request to Finance, Sustainability Reporting and the relevant topic data owners, such as HR, HSE, Operations, Procurement, Legal, Corporate Development or IT/Data. Ask only about revisions to previously published sustainability information; internal corrections completed before publication are not GRI 2-4 restatements.

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 register of revisions to information published for previous reporting periods. For each item, include the affected period and KPI, originally reported and restated information, quantitative change where relevant, specific reason, effect, recalculation method, approval trail and every publication location requiring update. Confirm directly if there were no restatements.

Formal email template

Subject: Request for published prior-period restatements and supporting records

Hi [name],

We are preparing the sustainability report and need details of any information published for previous reporting periods that has since been revised. Please exclude internal corrections completed before publication.

For each restatement, please provide:
- the affected period, disclosure, table or KPI;
- the originally reported value or wording and its published location;
- the restated value or wording;
- the specific reason for the restatement;
- the qualitative effect and, for quantitative information, the absolute or percentage change;
- the recalculation methodology and supporting source;
- the approval and control record; and
- every report, data book, table, chart or index location that must be updated.

Please also confirm the restatement criteria applied. If there were no restatements, please confirm this directly.

Thanks,
[preparer name]

Short Teams / Slack version

Hi [name] — please confirm whether any information published for previous reporting periods has been restated. For each item, send the affected period/KPI, original and restated values, reason, quantitative and qualitative effect, recalculation source, approvals and every location requiring update. Exclude corrections made before publication; if there were none, please confirm that directly. Thanks.

Industry examples

Manufacturing

Context. A plant’s annual energy figure published in the previous sustainability report was recalculated after a meter mapping error was found.

Adapted request. Please share any revisions to plant data published in previous sustainability reports, including the published location, original and restated values, quantitative change, specific reason, recalculation file, affected report locations and approval details. Exclude corrections completed before publication.

Example response. Published source: 2024 Sustainability Report, energy table; Period: FY2024; Item: electricity use; Originally reported: 1,240 MWh; Restated: 1,180 MWh; Change: −60 MWh (−4.8%); Reason: meter mapping error in the published dataset; Effect: FY2024 electricity use and intensity decrease; Recalculation: Energy close workbook v4; Approved by: Site Controller; Approval date: 12 July 2025.

Financial services

Context. A customer count published in the previous sustainability report and ESG data book was restated after a segment-classification error was identified.

Adapted request. Please provide revisions to customer information published in previous sustainability reports or ESG data books, including the affected publication, original and restated values, quantitative change, reason, effect, recalculation record and approval.

Example response. Published sources: 2024 Sustainability Report and ESG data book; Period: FY2024; Item: retail lending customer count; Originally reported: 48,200; Restated: 46,900; Change: −1,300 (−2.7%); Reason: a segment mapping error overstated the published category; Effect: the retail lending total and segment share decrease; Recalculation: control log CL-2024-18; Approved by: Reporting Lead; Approval date: 3 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

Apply the documented restatement criteria to decide whether a change or error is significant enough to influence information users’ decisions. This is GRI Guidance, not a test based on whether a change seems exceptional or relates to a material topic. For quantitative information, show the quantitative change.

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.

Free · Community members

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

All revisions that meet the organisation’s documented restatement criteria have been identified.A qualifying revision is omitted, or an internal correction made before publication is incorrectly treated as a GRI 2-4 restatement.Restatement criteria, previous sustainability report and restatement register

Each restatement identifies the affected reporting period and disclosure, table or KPI.Readers cannot determine which previously reported information was revised.Restatement register and marked-up comparative tables

The reason for each restatement is specific and supported.A generic statement such as ‘methodology updated’ does not explain what changed or why it affected previously reported information.Change log, methodology note and supporting source records

The effect of each restatement is explained.The disclosure gives a reason or revised value but does not explain the consequence of the restatement.Old-to-new bridge and restatement note

Quantitative restatements show the quantitative change.The restated value replaces the original without showing the size or direction of the change.Originally reported value, restated value and absolute or percentage change

Restated comparative data are consistent throughout the reporting suite.Different revised values appear in the report, ESG data book, charts or GRI content index.Cross-report consistency check and corrected comparative tables

Each change is traceable to the original and recalculated information.The revised value cannot be reproduced or reconciled to the previously published value.Previous report, original calculation, recalculation and bridge

Restatements have completed the organisation’s review and approval process.Unreviewed comparative changes reach the published report.Review comments and final approval record

A direct statement is provided when no restatements were made.Silence leaves readers unable to tell whether there were no restatements or the disclosure was omitted.Final disclosure and signed restatement register or confirmation

Evidence pack to prepare

Sustainability report for the previous reporting periodRestatement register covering every affected period and itemOriginal and recalculated workbooksBridge between the originally reported and restated valuesMethodology or definition change noteSystem or calculation-model change logAcquisition, disposal or organisational-change documents where relevantCorrected comparative tables and chartsReview comments and final approval recordsConsistency check across the report, ESG data book and GRI content index

Common reporting gaps

A restated value silently replaces the value published for the previous reporting period.The reason is stated, but the effect of the restatement is not explained.The restated value is shown without the originally reported value, so the scale of the change is unclear.A quantitative restatement does not specify the quantitative change.A generic phrase such as ‘methodology was updated’ does not explain what changed or why prior information was affected.The affected reporting periods, disclosures, tables or KPIs are not identified.Different restated values appear in different parts of the reporting suite.The organisation does not disclose its criteria for deciding when a revision is significant enough to require restatement.An internal correction made before publication is incorrectly labelled as a GRI 2-4 restatement.Nothing is stated when no restatements were made during the reporting period.

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.

Published information not identified

The team does not identify the previous sustainability report, period, disclosure, table or KPI that contained the information, so an internal adjustment can be mistaken for a GRI 2-4 restatement.

Pre-publication correction misclassified

A correction completed while the current report was still being prepared is called a restatement even though no previously reported information was revised.

Quantitative bridge missing

The restated value is collected without the originally reported value and absolute or percentage change, so the quantitative effect cannot be checked.

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.

Report locations not reconciled

The main report is updated but the ESG data book, chart, KPI table or GRI content index retains a different comparative value.

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

A transaction can lead to a restatement but does not do so automatically. Determine whether previously reported information is recalculated, which periods and indicators are affected, whether the change is retrospective and whether comparable recalculation is possible. Consider reporting entities and consolidation under Disclosure 2-2.

Estimate replaced by actual data

Replacing an estimate does not automatically require restatement. Apply the documented criteria to determine whether the revision to previously reported information is significant enough to influence information users’ decisions.

System or methodology change

Distinguish a future-only method change from retrospective recalculation, correction of an error, improved source data, or a changed definition or factor. GRI 2-4 applies when the change revises information previously reported for an earlier period.

Minor error or typographical correction

A typo or rounding difference that does not affect meaning or users’ decisions may fall below the organisation’s restatement criteria. Record the assessment rather than treating every correction as a GRI 2-4 restatement.

＋ Show 1 more− Show fewer

Examples

Illustrative examples

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

Illustrative (synthetic) example — Consumer goods manufacturing

The original 2024 figures had been reported in the organisation’s previous sustainability report. In the 2025 report, they were restated after a review found that one site had been excluded from the 2024 consolidation set.

• Total workforce — originally reported: 4,800; restated: 5,000; change: +200 (+4.2%).

• Recordable injuries — originally reported: 24; restated: 25; change: +1 (+4.2%).

Reason: a reporting-boundary error excluded one site from the published 2024 dataset.

Effect: the restatement increases both 2024 indicators; current-year figures are unchanged.

This example establishes that the information was previously published, gives a specific reason and shows the quantitative effect for each affected indicator.

Illustrative (synthetic) example — Retail logistics

The 2024 values below were published in the previous sustainability report and are restated after meter-based data replaced an estimate for one distribution centre.

• Total electricity — originally reported: 12,000 MWh; restated: 11,400 MWh; change: −600 MWh (−5.0%).

• Renewable electricity quantity — unchanged at 4,800 MWh.

• Renewable electricity share — originally reported: 40%; restated: 42% (42.1% before rounding); change: +2 percentage points.

Reason: more complete meter data reduced the total-electricity denominator while renewable electricity remained unchanged.

Effect: total electricity decreased and the renewable share increased.

This example makes the denominator logic explicit and distinguishes a percentage-point change from a percentage change.

Illustrative (synthetic) example — no restatements

The organisation made no restatements of information reported for previous reporting periods.

Where no restatements were made, GRI Guidance says a brief direct statement is sufficient.

Company reportsReal published reports

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How companies report GRI 2-4 in practice

Examples of full and partial reporting practice. These are evidence-led reviews, not exact disclosure templates to copy.

Tanla Platforms Limited

Software and Services · India · 2025

Open report →

Tanla’s GRI 2-4 statement says that reasons and effects appear under the relevant BRSR principles (p.194). One located example states that FY2024 water data were restated ‘based on evaluation’ and presents revised values (p.222). The reason is not specific, and the cited page does not show the originally reported values or quantitative change, so both reason and effect are assessed as partial.

Sims Limited

Solid Waste Management Utilities · Australia · 2025

Open report →

Sims describes multiple restatements affecting Scope 1, Scope 2, emissions to air, intensity measures and Scope 3 categories. It identifies periods and gives specific reasons including the BSC acquisition, classification correction, additional data, new emissions software and methodology or input changes (pp.47–48; another waste restatement appears on p.53). Directional effects are given for some items, such as lower APAC and higher North America market emissions, but an original-to-restated quantitative bridge is not shown for every restatement in the overview, so effect coverage is partial.

Kakao Corp.

Media · South Korea · 2024

Open report →

Kakao’s emissions table explains that 2022 and 2023 Scope 3 values were recalculated after calculation boundaries were expanded and methodology refined in 2024 (p.144). The table presents recalculated values and notes a directional decrease for a separate emissions-intensity method change, but it does not show the originally reported values or a quantitative old-to-new bridge. Reason coverage is therefore covered and effect coverage partial.

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Check your understanding

Scenarios to work through

A workforce figure is corrected in the current report’s working file before the report is published. The incorrect draft value has never appeared in published sustainability information.

QIs this a restatement under GRI 2-4?

Reveal model answer →Hide answer ↑

No. It is an internal pre-publication correction because it does not revise information previously reported for an earlier period. Keep the normal control trail, but do not present it as a GRI 2-4 restatement.

Why this matters · GRI 2-4 starts with previously reported information, not every correction made during preparation.

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.

The reporting team applies its documented criteria and confirms that no information published for previous reporting periods was restated during the year.

QWhat should the GRI 2-4 disclosure say?

Reveal model answer →Hide answer ↑

Include a brief direct statement that the organisation made no restatements of information reported for previous reporting periods. Do not leave the disclosure blank and do not use a reason for omission.

Why this matters · GRI Guidance permits a concise no-restatements statement, while reasons for omission are not permitted.

Framework references

Relevant GRI requirements and related disclosures

Available framework references and nearby disclosures relevant to preparing this requirement.

GRI

GRI 2-4

within GRI 2: General Disclosures

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Primary

Related & explore

Entities included in the organization’s sustainability reporting → Guide ✓Reporting period, frequency and contact point → Guide ✓Activities, value chain and other business relationships → Guide ✓Role of the highest governance body in sustainability reporting → Guide ✓External assurance → Guide ✓Browse all 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.

Explore GRI training (ESRS bundle) →

FAQ

Questions this page answers

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

Collect the previously published value or wording, the restated value, affected period and disclosure or KPI, specific reason, qualitative and quantitative effect, recalculation method, approval trail and every location where the comparative information must be updated. If there were no restatements, retain confirmation and draft a direct statement.

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

Use it to distinguish published prior-period information from internal pre-publication corrections, apply the documented restatement criteria, capture reasons and effects, reconcile comparative values across the reporting suite and confirm either the restatements or a direct no-restatements statement.

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

Prepare the previous sustainability report, restatement register, original and recalculated workbooks, old-to-new bridge, methodology or system change records, relevant transaction documents, corrected comparative tables, approvals and a cross-report consistency check.

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

The nine checks cover completeness against the restatement criteria, identification of affected periods and items, reasons, effects, quantitative change, consistency, traceability, approval and the direct statement required when no restatements were made.

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

Key gaps include silently replacing a published value, giving a reason without an effect, omitting the original or quantitative change, using a generic methodology explanation, failing to identify affected periods and items, inconsistent revised values, missing significance criteria, treating an internal correction as a restatement, and saying nothing when there were no restatements.

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 synthetic examples show originally reported and restated values, the resulting change, a specific reason and the effect. A separate example shows the brief statement that can be used when no restatements were made. Adapt the structure, not the fictional facts.

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?+−

Use the ‘How companies report GRI 2-4 in practice’ cards. Each card links to relevant report pages and distinguishes evidence for the reason from evidence for the effect; a company example is not a model of complete compliance unless every element is supported.

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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 the restatement register, quantitative bridge 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

Relevant GRI requirements and related disclosures

Questions this page answers

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