IFRS 18 takes effect for fiscal years beginning on or after 1 January 2027, and it is far more than a routine taxonomy upgrade. In a new guest blog, Shraddha Bagul, Lead Consultant at IRIS Business Services and co-chair of XBRL International’s Best Practices Board, sets out what the digital implementation involves.
The European Banking Authority (EBA) has issued an Opinion on how banks can report profit or loss information during the transition to IFRS 18, sparing them the burden of maintaining two different formats at once.
The European Securities and Markets Authority (ESMA) has published the 2025 European Single Electronic Format (ESEF) XBRL taxonomy, giving filers greater clarity on exactly what reporting is going to look like as these IFRS reforms come on stream.
The International Organization of Securities Commissions (IOSCO) has issued an updated version of its Statement on Non-GAAP Financial Measures, originally published in 2016.
After nearly two years of endorsement deliberations, the European Union has formally adopted IFRS 18 Presentation and Disclosure in Financial Statements, publishing the Commission Regulation in the Official Journal on 16 February 2026.
The Journal of Accountancy recently published a forward‑looking analysis of this year’s new International Accounting Standards Board (IASB) standard IFRS 18, Presentation and Disclosure in Financial Statements. The article provides an analysis of why IFRS 18, which will be effective for annual reporting periods from 1 January 2027, marks a fundamental redesign in financial statements.
ESMA has finalised amendments to the European Single Electronic Format (ESEF) incorporating the 2025 IFRS taxonomy, creating a crucial two-track system for companies based on their IFRS 18 adoption timeline.
A new report from the Korea Accounting Research Institute (KARI) offers fresh insight into the practical implications of IFRS 18 for Korean companies—especially around the recurring nature of impairment losses.
The IFRS Foundation has announced the release of the IFRS Accounting Taxonomy 2025, providing an updated digital tagging framework aligned with the latest IFRS Accounting Standards.
The International Accounting Standards Board’s (IASB) move to update the IFRS Accounting Taxonomy follows the April 2024 release of IFRS 18, which sets a new standard for presenting and disclosing financial data.
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