IFRS 18 Presentation and Disclosure in Financial Statements was published by the International Accounting Standards Board (IASB) on 9 April 2024. IFRS 18 will be effective for annual reporting periods beginning on or after 1 January 2027 with earlier application permitted.
IFRS 18 will include new requirements for presentation and disclosure in the financial statements, with a focus on the income statement. The IASB developed these requirements in its Primary Financial Statements (PFS) project. The IASB undertook this project in response to investors' concerns about the comparability and transparency of companies’ performance reporting.
In December 2019, the IASB published the Exposure Draft ED/2019/7 General Presentation and Disclosures (ED). The UKEB Secretariat response to the ED was submitted in September 2020. The UKEB Secretariat’s Feedback Statement (published in October 2020) summarises the outreach work undertaken, stakeholder views, and the final position on the proposals in the ED.
Refer to this project webpage for details of the UKEB’s influencing project on the ED.
IFRS 18 is expected to:
More detailed information on planned outreach activities will be published in due course. If you would like to contribute to outreach work on this project, please email ukendorsementboard@endorsement-board.uk.
For further updates on UKEB projects, you can subscribe to our newsletters and alerts by emailing contact@endorsement-board.uk and putting SUBSCRIBE in the subject.
Meeting(s) related to the endorsement of IFRS 18 is/are as follows: