In depth - New IFRS Accounting Standards for 2024

June 2024

Since May 2023 when our New IFRSs for 2023 was published, the IASB has issued the following:

• Amendments to IAS 7 and IFRS 7, ‘Supplier Finance Arrangements’
• Amendments to IAS 21, ‘Lack of Exchangeability’
• Amendments to IFRS 9 and IFRS 7, ‘Amendments to the Classification and Measurement of Financial Instruments’
• IFRS 18 ‘Presentation and Disclosure in Financial Statements’
• IFRS 19 ‘Subsidiaries without Public Accountability: Disclosures’

This publication is designed to be used by preparers, users and auditors of IFRS financial statements. It includes a quick reference table of each accounting standard/ amendment/interpretation categorised by the effective date and whether early adoption is permitted. The publication gives an overview of the impact of the changes, which may be significant for some entities, helping companies understand if they will be affected and to begin their considerations. It will help entities plan more effectively by flagging up where new processes and systems or more guidance may be needed.