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The International Accounting Standards Board (IASB) has issued narrow amendments to IFRS Accounting Standards and accompanying guidance as part of its regular maintenance of the Standards.
These amendments, published in a single document Annual Improvements to IFRS Accounting Standards—Volume 11, 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; and
- IAS 7 Statement of Cash Flows.
The amendments are effective for annual periods beginning on or after 1 January 2026, with earlier application permitted.
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