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IASB issues annual improvements to IFRS Accounting Standards
Publication date: 18 Jul 2024
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IASB issues annual improvements to IFRS Accounting Standards
On July 18, the International Accounting Standards Board (IASB) issued narrow-scope amendments to IFRS Accounting Standards that include clarifications, simplifications, corrections, and changes intended to improve consistency in:
• IFRS 1, First-time Adoption of International Financial Reporting Standards;
• IFRS 7, Financial Instruments: Disclosures and Guidance on implementing IFRS 7;
• IFRS 9, Financial Instruments;
• IFRS 10, Consolidated Financial Statements; and
• IAS 7, Statement of Cash Flows.
The amendments are effective for annual periods beginning on or after January 1, 2026. Early adoption is permitted.
On July 18, the International Accounting Standards Board (IASB) issued narrow-scope amendments to IFRS Accounting Standards that include clarifications, simplifications, corrections, and changes intended to improve consistency in:
• IFRS 1, First-time Adoption of International Financial Reporting Standards;
• IFRS 7, Financial Instruments: Disclosures and Guidance on implementing IFRS 7;
• IFRS 9, Financial Instruments;
• IFRS 10, Consolidated Financial Statements; and
• IAS 7, Statement of Cash Flows.
The amendments are effective for annual periods beginning on or after January 1, 2026. Early adoption is permitted.
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