IASB Issues Annual Improvements to IFRS Accounting Standards

The International Accounting Standards Board (IASB) has issued narrow amendments to IFRS Accounting Standards and accompanying guidance as part of its regular maintenance of the standards. These amendments, published in a single document, Annual Improvements to IFRS Accounting Standards—Volume 11, include clarifications, simplifications, corrections and changes aimed at improving the consistency of several IFRS Accounting Standards.

The amended standards are:

IFRS 1 First-time Adoption of International Financial Reporting Standards

IFRS 7 Financial Instruments: Disclosures and its Accompanying Guidance on Implementing IFRS 7

IFRS 9 Financial Instruments

IFRS 10 Consolidated Financial Statements

IAS 7 Statement of Cash Flows.

The amendments are effective for annual periods beginning on or after 1 January 2026.

Annual Improvements to IFRS Accounting Standards—Volume 11 is available to IFRS Digital subscribers. An IFRS Digital Subscription or a PDF version of the volume may be purchased from the IFRS web shop.