IASB publish Annual Improvements (Volume 11)

Today, the IASB have published Annual Improvements to IFRSs (Volume 11). These improvements comprise the following 8 issues and respective IFRSs:

• IFRS 1 – Hedge accounting by a first-time adopter;
• IFRS 7 – Gain or loss on derecognition;
• IFRS 7 – Credit risk disclosures;
• IFRS 7 – Disclosure of deferred difference between fair value and transaction price;
• IFRS 9 – Determining the transaction price;
• IFRS 9 – Derecognition of a lease liability;
• IFRS 10 – Determination of a „de facto agent“;
• IAS 7 – Cost method.

Annual Improvements to IFRSs are developed and published every 1-2 years. This aims at developing and finalising minor or editorial amendments to IFRSs in an aggregated way.

These amendments shall be applied for annual periods beginning on or after 1 January 2026, earlier application is permitted.

The amendments are available from the IASB and subject to a charge.