ICAEW.com works better with JavaScript enabled.
Exclusive

Effective dates for IFRS

Published: 29 Mar 2011 Updated: 13 Mar 2025 Update History

Exclusive content
Access to our exclusive resources is for specific groups of students, users, subscribers and members.
New international accounting standards are issued and existing standards are often amended. Therefore, it is important to know the changes in the requirements and when they come into effect when preparing your financial statements.

The IASB favours issuing standards and amendments to be effective for accounting periods beginning on or after 1 January in any given year. Future changes are generally available for early adoption (subject to UK endorsement for UK preparers / EU endorsement for EU preparers).

The tables below summarises the amendments according to calendar years. Links are provided to our IFRS Accounting Standards pages where further details of the changes can be found.

The dates listed below are those stated within a standard or other pronouncement as issued by the IASB.

Changes coming into effect for accounting periods beginning on or after 1 January:

2025

New standard/amendment Standard(s) affected
Lack of Exchangeability IAS 21 The Effects of Changes in Foreign Exchange Rates

2024

>New standard/amendment Standard(s) affected
Classification of Liabilities as Current or Non-current amendment to IAS 1
IAS 1 Presentation of Financial Statements
Non-current Liabilities with Covenants
IAS 1 Presentation of Financial Statements
Lease Liability in a Sale and Leaseback
IFRS 16 Leases
Supplier Finance Arrangements IAS 7 Statement of Cash Flows
IFRS 7 Financial Instruments: Disclosures

2023

New standard/amendment Standard(s) affected
IFRS 17 Insurance Contracts IFRS 17 Insurance Contracts
Amendments to IFRS 17 IFRS 17 Insurance Contracts
Initial Application of IFRS 17 and IFRS 9 – Comparative Information IFRS 17 Insurance Contracts
Disclosure of Accounting Policies IAS 1 Presentation of Financial Statements
IAS 26 Accounting and Reporting by Retirement Benefits Plans
IAS 34 Interim Financial Reporting
IFRS 7 Financial Instruments: Disclosures
IFRS 8 Operating Segments
Definition of Accounting Estimates IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors 
Deferred Tax related to Assets and Liabilities arising from a Single Transaction IAS 12 Income Taxes
International Tax Reform – Pillar Two Model Rules

IAS 12 Income Taxes
IFRS for SMEs Accounting Standard

2022


New standard/amendment Standard(s) affected
Property, Plant and Equipment: Proceeds before Intended Use IAS 16 Property, Plant and Equipment
Onerous Contracts - Costs of Fulfilling a Contract IAS 37 Provisions, Contingent Liabilities and Contingent Assets
Reference to the Conceptual Framework – amendments to IFRS 3 IFRS 3 Business Combinations
Annual Improvements 2018-2020 Cycle IFRS 1 First-time Adoption of IFRS
IFRS 9 Financial Instruments
IFRS 16 Leases
IAS 41 Agriculture

UK preparers that prepare their financial statements in accordance with UK-adopted international accounting standards can only apply accounting standards once they have been endorsed.

EU preparers are required to prepare their financial statements in accordance with IFRSs as adopted in the EU, and therefore can only apply accounting standards once they have been endorsed.

Changelog Anchor
  • Update History
    29 Mar 2011 (12: 00 AM BST)
    Page first published
    29 Nov 2024 (12: 00 AM GMT)
    Page changed to new template (no textual changes made)
    13 Mar 2025 (12: 00 AM GMT)
    2019-2021 amendments removed. Footnotes removed. 2025 table added. Additions made to 2023 and 2024.