Beyond the GAAP no.211 - June 2026
Since IFRS 18 was published in April 2024, preparations for its entry into force on 1 January 2027 have been gathering pace. The IASB has continued its work on clarifying certain points regarding application of the standard, as shown by its recent publication of targeted amendments to IAS 28 on the fair value option. However, many issues remain unresolved: the IFRS IC’s meeting agenda for this month was largely focused on IFRS 18, resulting in seven tentative agenda decisions, which are open for comment until 9 September.
Major changes are also under way in the European sustainability reporting environment, with the European Commission (EC) adopting the final delegated acts on the revised European Sustainability Reporting Standards (ESRS) and the voluntary standard on sustainability reporting.
IFRS highlights:
- IAS 28: amendments to the fair value option published
- Sale-and-leaseback transaction of an asset in a single-asset entity (IFRS 16/IFRS 10)
- Amortised Cost Measurement project
- IFRS 18: more submissions to IFRS IC
The disclosures presented are not exhaustive as the IASB publications and its advisory bodies but intend to emphasize the main highlights.
We hope that this Forvis Mazars Newsletter will be useful, according to the reality and needs of each one, and enables to alert readers to the topics mentioned.
