The IASB favours issuing standards and amendments to be effective for accounting periods beginning on or after 1 January in any given year. Future changes are generally available for early adoption (subject to UK endorsement for UK preparers / EU endorsement for EU preparers).
The tables below summarises the amendments according to calendar years. Links are provided to our IFRS accounting standards pages where further details of the changes can be found.
The dates listed below are those stated within a standard or other pronouncement as issued by the IASB.
Changes coming into effect for accounting periods beginning on or after 1 January:
2019
| New standard/amendment | Standard(s) affected |
|---|---|
| IFRS 16 Leases | IFRS 16 Leases |
| IFRIC 23 Uncertainty over Income Tax Treatments | IFRIC 23 Uncertainty over Income Tax Treatments |
| Prepayment Features with Negative Compensation | IFRS 9 Financial instruments |
| Long-term Interests in Associates and Joint Ventures | IAS 28 Investments in Associates and Joint Ventures |
| Annual Improvements 2015-2017 Cycle | IFRS 3 Business combinations |
| Annual Improvements 2015-2017 Cycle | IFRS 11 Joint arrangements |
| Annual Improvements 2015-2017 Cycle | IAS 12 Income Taxes |
| Annual Improvements 2015-2017 Cycle | IAS 23 Borrowing Costs |
| Plan Amendment, Curtailment or Settlement | IAS 19 Employee Benefits |
2020
| New standard/amendment | Standard(s) affected |
|---|---|
| Amendments to References to the Conceptual Framework in IFRS Standards | Conceptual Framework in IFRS Standards |
| Definition of Material | IAS 1 Presentation of Financial Statements |
| Definition of Material | IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors |
| Definition of Business | IFRS 3 Business combinations |
| Interest Rate Benchmark Reform |
IFRS 9 Financial Instruments IAS 39 Financial Instruments: Recognition and Measurement IFRS 7 Financial Instruments: Disclosure |
| Covid-19-Related Rent Concessions (effective 1 June) | IFRS 16 Leases |
2021
| New standard/amendment | Standard(s) affected |
|---|---|
| Interest Rate Benchmark Reform Phase 2 |
IFRS 9 Financial Instruments IAS 39 Financial Instruments: Recognition and Measurement IFRS 7 Financial Instruments: Disclosure IFRS 4 Insurance Contracts IFRS 16 Leases |
| Covid-19-Related Rent Concessions beyond 30 June 2021 (effective 1 April) | IFRS 16 Leases |
2022
| New standard/amendment | Standard(s) affected |
|---|---|
| Property, Plant and Equipment: Proceeds before Intended Use** | IAS 16 Property, Plant and Equipment |
| Onerous Contracts - Costs of Fulfilling a Contract** | IAS 37 Provisions, Contingent Liabilities and Contingent Assets |
| Reference to the Conceptual Framework – amendments to IFRS 3** | IFRS 3 Business Combinations |
| Annual Improvements 2018-2020 Cycle** |
IFRS 1 First-time Adoption of IFRS IFRS 9 Financial Instruments IFRS 16 Leases IAS 41 Agriculture |
2023
| New standard/amendment | Standard(s) affected |
|---|---|
| IFRS 17 Insurance Contracts | IFRS 17 Insurance Contracts |
| Amendments to IFRS 17 | IFRS 17 Insurance Contracts |
| Initial Application of IFRS 17 and IFRS 9 – Comparative Information | IFRS 17 Insurance Contracts |
| Disclosure of Accounting Policies | IAS 1 Presentation of Financial Statements IAS 26 Accounting and Reporting by Retirement Benefits Plans IAS 34 Interim Financial Reporting IFRS 7 Financial Instruments: Disclosures IFRS 8 Operating Segments |
| Definition of Accounting Estimates | IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors |
| Deferred Tax related to Assets and Liabilities arising from a Single Transaction | IAS 12 Income Taxes |
2024
| New standard/amendment | Standard(s) affected |
|---|---|
| Classification of Liabilities as Current or Non-current amendment to IAS 1* |
IAS 1 Presentation of Financial Statements |
| Non-current Liabilities with Covenants* |
IAS 1 Presentation of Financial Statements |
| Lease Liability in a Sale and Leaseback* |
IFRS 16 Leases |
* has not yet been endorsed for use in the UK or EU. When endorsed, the effective date may differ from that given in the standard or amendment.
** has not yet been endorsed for use in the UK but is endorsed for use in the EU.
UK preparers that prepare their financial statements in accordance with UK-adopted international accounting standards can only apply accounting standards once they have been endorsed.
EU preparers are required to prepare their financial statements in accordance with IFRSs as adopted in the EU, and therefore can only apply accounting standards once they have been endorsed.
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Update History
- 29 Mar 2011 (12: 00 AM BST)
- Page first published
- 29 Nov 2024 (12: 00 AM GMT)
- Page changed to new template (no textual changes made)