Which new IFRS standards must I apply for a 30 June 2026 reporting date? Several amendments are mandatory now — including the IAS 21 lack-of-exchangeability rules, the IFRS 9 & IFRS 7 classification and measurement amendments, and Annual Improvements Volume 11 — while IFRS 18, IFRS 19, and IFRS 20 remain optional until 2027. Applying…
Who can still elect the IAS 28 fair value option after the IASB’s 2026 amendments? The updated IAS 28 fair value option extends the FVTPL election beyond classic investment funds to any entity whose main business is investing in associates, joint ventures, unconsolidated subsidiaries, cash and cash equivalents, or other independently-returning assets — aligned to…
Who can measure associates and joint ventures at fair value under IFRS? The IAS 28 fair value option is an exemption from the equity method — and on 26 June 2026 the IASB issued narrow amendments that finally pin down which entities qualify, using the ‘specified main business activities’ concept from IFRS 18. If your…
What is IFRS 20, and who does it affect? The International Accounting Standards Board (IASB) issued IFRS 20, Regulatory Assets and Regulatory Liabilities — a new IFRS Accounting Standard for companies subject to a specific type of rate regulation (utilities that supply electricity, water, and gas, where a regulator controls how much they can charge…
What are the key IFRS 2026 updates? The most important IFRS 2026 updates include IFRS 9 amendments for financial instrument classification and nature-dependent electricity contracts effective January 1, 2026, the upcoming IFRS 18 replacing IAS 1 effective January 2027, and the March 2026 IASB decisions on IFRS 10 Consolidated Financial Statements — changes that require…
What is IFRS 18 and when does it take effect? IFRS 18, the new standard that replaces IAS 1, fundamentally redesigns how companies present financial statements. It is mandatory for annual periods beginning on or after January 1, 2027 — but with the 2026 comparative period already underway, companies using IFRS must begin planning their…
