This factsheet signposts key developments in corporate reporting that will affect the preparation of an annual report and accounts under IFRS® Accounting Standards for annual reporting periods beginning on or after 1 January 2026.
Please note
This page highlights key headlines from the 2026 IFRS Accounts factsheet and signposts where further detail can be found within the factsheet. It is not a substitute for reading the factsheet in full.
Current reporting environment
Businesses continue to operate in a volatile environment, shaped by continuing economic uncertainty, geopolitical disruption, global conflicts and associated trade frictions. Corporate reporting should clearly reflect how such uncertainties are impacting on an entity’s financial position, performance and prospects.
Regulators have repeatedly emphasised the need for disclosures to be transparent, complete and entity-specific if they are to be useful. Disclosures about judgements, risks and uncertainties must be sufficient for users to understand the positions taken in the financial statements.
The precise manner in which, and the extent to which, these issues will affect a business will depend on individual facts and circumstances. Some areas that may be affected include significant judgements and estimates, reporting uncertainties in financial statements, impairment testing and going concern.
Summary of changes
This section of the factsheet provides a concise overview of published amendments to IFRS Accounting Standards applicable for annual reporting periods beginning in 2026, and future periods. Once you have reviewed the headline changes, you can explore the later sections of this factsheet for more detailed guidance.
Some targeted amendments to IFRS Accounting Standards become effective for annual reporting periods beginning in 2026. Looking ahead, new standards IFRS 18 and IFRS 19 become effective for annual reporting periods beginning on or after 1 January 2027, along with a small number of amendments to existing standards. A further new standard, applicable to entities subject to specified types of rate regulation, will become effective from 2029.
Amendments effective in 2026
The following amendments are effective for annual reporting periods beginning on or after 1 January 2026:
- Amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures, to address diversity in accounting practice by clarifying requirements for the classification of financial assets and derecognition of financial assets and financial liabilities, as well as introducing additional disclosures for certain types of investments.
- Amendments to IFRS 9 and IFRS 7, aiming to provide more useful information to users of financial statements about the financial effects of nature-dependent electricity contracts.
- Minor amendments to various IFRS Accounting Standards resulting from the Annual Improvements to IFRS Accounting Standards - Volume 11.
Changes effective from 2027 and beyond
The following new standards and amendments are effective for annual reporting periods beginning on or after 1 January 2027:
- IFRS 18 Presentation and Disclosure in Financial Statements, a new standard which will affect all entities reporting under IFRS Accounting Standards with varying levels of impact. It aims to provide investors with more transparent and comparable presentation of information about entities’ financial performance.
- IFRS 19 Subsidiaries without Public Accountability: Disclosures, a voluntary new standard that permits eligible subsidiaries to use IFRS Accounting Standards with reduced disclosure requirements in their consolidated, separate or individual financial statements.
- Amendments to IAS 28 Investments in Associates and Joint Ventures to clarify in which situations entities are eligible to apply the fair value option as an exemption from applying the equity method to investments in associates and joint ventures.
- Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates to deal with two scenarios involving translation to a hyperinflationary presentation currency.
Effective for annual reporting periods beginning on or after 1 January 2029, a new standard IFRS 20 Regulatory Assets and Regulatory Liabilities applies to entities subject to specified types of rate regulation.
Other changes
Recent regulatory changes include amendments to company size thresholds, directors’ report requirements and remuneration disclosures, while future legislative changes have been announced in respect of narrative reporting requirements. In addition, the sustainability reporting framework continues to evolve in the UK and Europe.
Download the factsheet
Read the full 2026 IFRS Accounts factsheet.
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The Corporate Reporting Faculty aims to help members keep up to date with the implications of new standards, regulations and practice in corporate reporting. This factsheet is part of a series designed to provide practical help to ICAEW members and Corporate Reporting Faculty subscribers in exercising their professional judgement.
