• 2024 Issued Standard – IAS 32
  The 2024 Issued Standards include all amendments issued up to and including 31 December 2023.

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Note that the Issued Standards contain amendments that have a mandatory effective date that is later than 1 January 2024. Find details of the effective dates of amendments to this Standard in the Recent Amendments section below.

IAS 32 classifies financial instruments into financial assets, financial liabilities and equity in accordance with the substance of the arrangement and the definitions of these elements. In certain cases, such as convertible debt, the instrument is split into a liability and equity element. Financial assets and liabilities may only be offset where there is a legally enforceable right to offset and the entity intends to settle on a net basis. Any treasury shares are deducted from equity.

Interest, dividends, losses and gains related to a financial liability are recognised in profit or loss; dividends in relation to equity instruments are recognised directly in equity.