New IFRS standards IFRS 18 and IFRS 19 will come into force from 2027 — Tazabek

Tazabek — From January 1, 2027, two new international financial reporting standards will come into force — IFRS 18 “Presentation and Disclosure of Information in Financial Statements” and IFRS 19 “Subsidiaries without Public Reporting Obligations: Disclosure”. The State Financial Supervision Service reports this.

IFRS 18 was issued by the International Accounting Standards Board (IASB) in April 2024. It sets out the general requirements for presentation and disclosure of information in financial statements.

In May 2024, the IASB released IFRS 19. The standard allows certain subsidiaries to apply IFRS standards with reduced disclosure requirements.

Both standards apply to annual periods beginning on or after January 1, 2027. However, their early use is permitted.