Ooops my bad, there is a pre-existing reporting standard that covers for research and development, not existential risks though: IFRS 38 intangible assets.
An intangible asset is an identifiable non-monetary asset without physical substance. Such an asset is identifiable when it is separable, or when it arises from contractual or other legal rights. Separable assets can be sold, transferred, licensed, etc. Examples of intangible assets include computer software, licences, trademarks, patents, films, copyrights and import quotas.
An update to this standard, should be necessary to cover for the nature of AI research.
Google Deepmind is using IFRS 38 as per page 16 of 2021 FS reports I found, so they are following this standard already and expect that if an update on this standard re: a proper accounting theory on the estimated liability of an AI company doing AGI research, it will be governed by the same accounting standard. Reframing this post to target this IFRS 38 standard, is recommended in my opinion.
Ooops my bad, there is a pre-existing reporting standard that covers for research and development, not existential risks though: IFRS 38 intangible assets.
An update to this standard, should be necessary to cover for the nature of AI research.
Google Deepmind is using IFRS 38 as per page 16 of 2021 FS reports I found, so they are following this standard already and expect that if an update on this standard re: a proper accounting theory on the estimated liability of an AI company doing AGI research, it will be governed by the same accounting standard. Reframing this post to target this IFRS 38 standard, is recommended in my opinion.