Banks: Are you ready for IFRS 18?

Global Corporate Reporting Institute | IFRS Today | Presentation and disclosure

Highlights

As banks prepare to transition, it is important to understand how these changes apply to current presentation practices and to their specific circumstances.

Richard Smith,

Global Banking Audit Quality Leader

Are you ready for IFRS 18?

IFRS 18 Presentation and Disclosure in Financial Statements is effective from 1 January 2027 and applies retrospectively, with comparatives restated.

What do banks need to do?

As the date of initial application approaches, banks need to:

assess the potential impact of IFRS 18;
develop a detailed implementation roadmap for transition-related activities; and
communicate the impact to investors, including how IFRS 18 may change key performance indicators.

The impact may depend on current presentation practices. As such, our observations are informed by data on the current practice for 25 global banks.

Find out more

Read our guide that discusses some of the potential impacts as banks prepare to transition to IFRS 18.