The tables outline the effective dates of IFRS Accounting Standards, separately identifying the effective date of each significant amendment made to those Standards for financial statements starting on or after 1 January 2026 together with approved but not effective Standards as at 1 January 2026.
Entities should consider these to determine the impact of new pronouncements in accordance with IAS 8 disclosure requirements.
The International Accounting Standards Board (IASB) issues various new pronouncements that need to be considered annually when entities prepare financial statements to ensure compliance with IFRS® Accounting Standards.
Entities implement these amendments from the effective date of the Standard and take into account IAS 8 disclosure requirements when reporting the impact on their financial statements..
An entity is not required to disclose immaterial impacts and amendments that do not affect its financial position. However, according to IAS 1.122, it must disclose any material judgments made in this context. This means that if an entity determines that the amendments have no material impact or that a particular standard is not effective, it may still be required to provide disclosure.
New IFRS amendments
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Standards/Amendments effective 1 January 2026 |
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STANDARD |
Nature of change |
Issued date |
|
IFRS 1 First time Adoption of IFRS |
Hedge accounting for first-time adopter |
July 2024 |
|
IFRS 7 Financial Instruments: Disclosures |
Gain or loss on derecognition |
July 2024 |
|
Guidance on implementing IFRS 7 Financial Instruments: Disclosures |
Introduction, disclosure of deferred difference between fair value and transaction price, and credit risk disclosures. |
July 2024 |
|
IAS 7 Statement of Cash Flows |
Cost method |
July 2024 |
|
IFRS 9 Financial instruments |
Derecognition of lease liabilities and transaction price |
July 2024 |
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Standards/Amendments effective 1 January 2026 |
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STANDARD |
Nature of change |
Issued date |
|
|
IFRS 9 and IFRS 7 Financial instruments |
Contracts referencing nature-dependent electricity. |
December 2024 |
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IFRS 9 and IFRS 7 Financial instruments |
Amendments to classification and measurement of financial instruments. |
May 2024 |
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IFRS 10 Consolidated Financial Statements |
Determination of a ‘de facto agent’ |
July 2024 |
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IFRS Practice Statement 1 Management Commentary |
Replacement of IFRS Practice Statement 1 Management Commentary (issued Dec 2010) |
June 2025 |
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Standards/Amendments not yet effective |
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STANDARD |
Nature of change |
Effective date |
|
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Amendments to IFRS 10 and IAS 28 |
Sale or Contribution of Assets between an Investor and its Associate or Joint Venture |
TBA |
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Amendment to IAS 21 |
Translation to a Hyperinflationary Presentation Currency |
01 January 2027 |
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IFRS 18 Presentation and Disclosure to AFS |
Presentation and Disclosure in Financial Statements. |
01 January 2027 |
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IAS 8 basis of preparation of financial statements |
Rename of IAS 8 and relocation of some of some IAS 1 basis of AFS preparation to IAS 8 |
01 January 2027* |
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IFRS 19 Subsidiaries without public accountability |
Subsidiaries without public accountability. |
01 January 2027 |
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*The consequential amendments to IAS 8 arising from IFRS 18 become effective at the same time the entity first applies IFRS 18.
