IFRS 18 replaces IAS 1 ‘Presentation of Financial Statements’ for annual reporting periods beginning on or after 1 January 2027. Our ‘Insights into IFRS 18’ series explains the new requirements of IFRS 18, highlighting some areas of the standard that we believe will be challenging to apply in practice.
Our ‘Example Interim Condensed Consolidated Financial Statements 2026’ publication provides practical guidance and illustrative disclosures to support reporting entities in preparing interim financial statements in accordance with IFRS. This article focuses on the application of IAS 34 for a six-month interim reporting period ending 30 June 2026.
IFRS 18 replaces IAS 1 ‘Presentation of Financial Statements’ for annual reporting periods beginning on or after 1 January 2027. Our ‘Insights into IFRS 18’ series explains the new requirements of IFRS 18, highlighting some areas of the standard that we believe will be challenging to apply in practice.
IFRS 18 is the new financial statements presentation and disclosure standard and this will replace the existing IAS 1 'Presentation of Financial Statements' standard that has been in use for many years.