PwC IFRS Deep Dives

IFRS 18, which is the new standard on Presentation and Disclosures in Financial Statements, was issued in April 2024 and will become effective from 01 January 2027. It will replace the current standard on presentation of financial statements, i.e. IAS 1 ‘Presentation of Financial Statements’. IFRS 18 is in response to different stakeholders' feedback, particularly the investors’ demand for better information around financial performance.  

The session will aim to cover in detail the key new aspects of the Standard namely the principles regarding aggregation and disaggregation, the different new required subtotals and the relevant categories of an entity and subsequently, how this will change the structure of the statement of financial performance. The session will also cover the considerations and requirements with regards to Management-Defined Performance Measures and other relevant guidance.  

IFRS 9 is a critical standard that has attracted significant attention due to its complexity, particularly in the areas of classification and measurement of financial assets and expected credit loss (ECL) calculations. This session will cover classification and measurement principles, as well as specific areas of IFRS 9 such as the effective interest rate (EIR) and loan modifications. We shall also provide an overview of the general approach to determine ECL and include an interactive Q&A session on the simplified approach to calculate ECL.

We shall cover some of the latest updates to the International Financial Reporting Standards. As the financial landscape evolves, staying informed about new standards and amendments is crucial for ensuring compliance and enhancing the accuracy of financial reporting.