IASB issues annual improvements to IFRS Accounting Standards

The IASB has issued Annual Improvements to IFRS Accounting Standards – Volume 11. These amendments to IFRS Accounting Standards 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, with earlier application permitted.
The amendments may be accessed here.