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Dear national standard-setters,

Welcome to our newsletter dedicated to keeping you up to date on the IFRS Foundation’s activities.

In this edition

  • Upcoming 2026 World Standard-setters Conference
  • IASB recent highlights
    • New accounting model to reflect how financial institutions manage interest rate risk
    • IASB consults on clarifying the fair value option in IAS 28
    • Illustrative examples on reporting uncertainties in financial statements
    • Amendments for translating financial information into hyperinflationary currencies
  • ISSB recent highlights
    • ISSB issues targeted amendments to IFRS S2 to support implementation
    • Jurisdictional Rationale Guide and Tool for the adoption or other use of ISSB Standards and Jurisdictional Readiness Assessment Guide and Tool added to ISSB adoption toolkit
    • Regulatory Implementation Advisors Programme
  • News for national standard-setters
    •  IFRS Foundation updates
    • Accounting updates
    • Sustainability updates
  • Consultations open for comment

Upcoming 2026 World Standard-setters Conference

The 2026 World Standard-setters (WSS) Conference will take place in London on 28–29 September at the Hilton London Canary Wharf, South Quay, Marsh Wall, London, E14 9SH.

The conference will provide national standard-setters with the opportunity to receive an update on activities at the IFRS Foundation (Foundation) and participate in discussions on those activities. Participants will be able to attend panel discussions with standard-setters and others, ask questions in interactive sessions with presenters and network with fellow delegates, Foundation staff and members of the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB).

The WSS Conference is open to all national standard-setters. The Foundation will invite two representatives from each national standard-setter to attend the conference in person and will email registration information to them in due course. In the meantime, if you have any questions about the conference, please contact the WSS team:

Select sessions will be live-streamed and recordings will be available from the meeting page.

Take a look at the WSS Conference 2025 debrief to get an idea of what to expect in 2026.

Explore previous conferences on our Resources for national standard-setters page.

IASB recent highlights

New accounting model to reflect how financial institutions manage interest rate risk

In December 2025 the IASB proposed a new accounting model to better reflect how financial institutions manage interest-rate risk throughout their portfolios.

The proposed Risk Mitigation Accounting model was designed in response to feedback from financial institutions and investors that the current hedge accounting requirements do not adequately reflect how interest-rate risk is managed in practice. The model aims to provide greater transparency of how interest-rate risk management affects financial performance and future cash flows in a dynamic environment.

To integrate the new accounting model and enhance companies’ disclosures about their interest-rate risk management activities, the IASB is proposing amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures. The IASB is also seeking feedback on its proposal to withdraw IAS 39 Financial Instruments: Recognition and Measurement.

These videos and this technical webcast explain the aims of the proposed Risk Mitigation Accounting model, highlight the potential benefits for companies and investors, and address frequently asked questions about the proposals.

The IASB’s consultation on the Risk Mitigation Accounting model is open for comment until 31 July 2026. The 240-day consultation period also includes fieldwork, enabling financial institutions and other interested parties to test the model using their own data and provide practical feedback to the IASB.

Submit a comment letter

IASB consults on clarifying the fair value option in IAS 28

In February 2026 the IASB published a consultation proposing targeted amendments to clarify which investments a company is eligible to measure using the fair-value option in IAS 28 Investments in Associates and Joint Ventures.

This consultation responds to diversity in application of the fair-value option in IAS 28 and stakeholder feedback on the effects of that diversity on the classification of income and expenses in the statement of profit or loss in accordance with IFRS 18 Presentation and Disclosure in Financial Statements. This issue has become increasingly important as more companies are preparing to implement IFRS 18.

The IASB’s proposed narrow-scope amendments aim to improve consistency in application and provide timely clarity ahead of the effective date of IFRS 18.

The IASB has set a shorter comment period to allow for any amendments to be completed in time for the implementation of IFRS 18. The consultation is open until 20 April 2026 and the IASB plans to finalise any amendments by mid-2026, allowing jurisdictions to bring the amendments into legislation.

Submit a comment letter

Illustrative examples on reporting uncertainties in financial statements

In November 2025 the IASB issued illustrative examples demonstrating how companies can apply IFRS Accounting Standards when reporting the effects of uncertainties in their financial statements. The examples use climate-related scenarios as practical illustrations, but the underlying principles apply more broadly to all uncertainties.

Stakeholders told the IASB that the information companies provide about the effects of uncertainties is sometimes insufficient or appears inconsistent with the information provided outside their financial statements. The IASB developed these illustrative examples, with the aid of stakeholder feedback, to improve the application of existing disclosure requirements.

As accompanying materials to IFRS Accounting Standards, these illustrative examples do not have an effective date. However, companies are expected to implement any change in their reporting on a timely basis.

Amendments for translating financial information into hyperinflationary currencies

In November 2025 the IASB issued amendments that clarify how companies translate financial statements from a non-hyperinflationary currency into a hyperinflationary one.

These narrow-scope amendments aim to improve the usefulness of the resulting information in a cost-effective manner. Developed in response to stakeholder feedback, these amendments are expected to reduce diversity in practice and provide a clearer basis for reporting in a hyperinflationary currency.

The amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates are effective for annual periods beginning on or after 1 January 2027. Companies can choose to apply them earlier.

ISSB recent highlights

ISSB issues targeted amendments to IFRS S2 to support implementation

In December 2025 the ISSB issued targeted amendments to greenhouse gas (GHG) emissions disclosure requirements in IFRS S2 Climate-related Disclosures in response to specific application challenges that were identified as companies started to apply the Standard.

These amendments provide reliefs and clarifications to support companies in applying IFRS S2, while keeping investor information needs in focus and minimising disruption to jurisdictions that are in the process of adopting or otherwise using ISSB Standards.

The amendments:

  • clarify that an entity is permitted to limit measurement and disclosure of Scope 3 Category 15 GHG emissions to financed emissions as defined in IFRS S2;
  • permit the use of classification systems other than the Global Industry Classification Standard to disaggregate information about financed emissions;
  • clarify the availability of the jurisdictional relief from using the Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (2004), if only part of an entity is required to use a different method for measuring GHG emissions; and
  • introduce a jurisdictional relief from using global warming potential values from the latest IPCC Assessment Report for converting GHG emissions.

The amendments are effective for reporting periods beginning on or after 1 January 2027, with early application permitted.

Jurisdictional Rational and Readiness Assessment Guides and tools added to ISSB adoption toolkit

The Foundation has recently made available two new sets of resources to support jurisdictional authorities that are considering adoption or other use of ISSB Standards. These materials are part of the Foundation’s Regulatory Implementation Programme, which provides a toolkit of resources to support jurisdictions as they design and plan their journeys to use ISSB Standards. The toolkit includes materials that help jurisdictions to consider potential approaches, rationales and timelines as they develop roadmaps for adopting ISSB Standards.

In October 2025 the Foundation made available a new Jurisdictional Rationale Guide for the adoption or other use of ISSB Standards and accompanying tool that explore jurisdictions’ experiences and reasons for adopting ISSB Standards.

The guide provides evidence from jurisdictional consultations, articulated roadmaps and policy reports to illustrate three commonly cited areas of benefit:

  • strengthening capital markets by informing investors’ capital-allocation decisions;
  • improving cost effectiveness and enhancing efficiencies for companies; and
  • enabling jurisdictions to access other benefits resulting from the global baseline of sustainability-related financial disclosures, when relevant.

The Jurisdictional Rationale Tool for the adoption or other use of ISSB Standards is designed to be used in conjunction with the Jurisdictional Roadmap Development Tool. Developing a clear rationale allows users to work systematically through the ‘matters for consideration’ and ‘decision points’ in the Roadmap Development Tool.

Separately, the Jurisdictional Readiness Assessment Guide and associated tool were made available in February 2026. The guide and tool give a structured, evidence-based review of the readiness of a market—including the reporting ecosystem, entities and broader support system—and provide important insights for a jurisdiction as it decides on the pace, scope and sequencing of regulatory actions and identifies priorities for building capacity to use ISSB Standards.

Regulatory Implementation Advisors Programme

The Foundation is launching a Regulatory Implementation Advisors Programme in response to growing demand for advisors to support jurisdictional authorities in their planning and processes to introduce ISSB Standards into regulatory frameworks. The programme is part of the Foundation’s Regulatory Implementation Programme and is designed to enhance independent advisors’ familiarity with ISSB Standards—including through completion of the FSA® Credential—and the Foundation’s tools and materials that are available to support regulators.

Following a public Call for Expressions of Interest earlier this year, the Foundation will launch the programme in early March through a combination of interactive virtual sessions and an in-person workshop.

News for national standard-setters

IFRS Foundation update

  • In March 2026 Trustees Chair Erkki Liikanen addressed the European Parliament together with IASB Chair Andreas Barckow and ISSB Chair Emmanuel Faber. In his speech, he highlighted that high-quality global reporting remains essential in a politically fragmented world
  • In February 2026 the Foundation published new translations of IFRS Accounting Standards, agenda decisions, exposure drafts and educational materials. Translated material is available in Albanian, Arabic, Azeri, French, Georgian, Japanese, Korean, Russian, Spanish and Ukrainian.
  • In January 2026 the Trustees of the Foundation confirmed the appointment and reappointment of several organisations and representatives to the IFRS Advisory Council. The Advisory Council provides strategic advice to the Trustees, the IASB and the ISSB. Read about newly appointed organisations and their representatives and reappointed organisations with new representatives.
  • The IFRS Advisory Council met in November 2025 in London. Advisory Council members were given an update on the recent activities of the IASB and ISSB and discussed strategic initiatives at the Foundation. Watch the recording on the IFRS Advisory Council meetings page.
  • In November 2025 the Foundation published its 13th Compilation of Agenda Decisions by the IFRS Interpretations Committee, covering the period from May to October 2025.

Accounting updates

Eight webcasts are now available to complement the educational modules, which are designed to help small and medium-sized entities to apply the Standard.

Finally, quarterly newsletters and a podcast series dedicated to the Standard are also available. The newsletter summarises news, events and other information related to the Standard. The podcasts offer bite-sized insights to support implementation.

  • The Accounting Standards Advisory Forum (ASAF) met in London in December 2025. ASAF members discussed several projects on the IASB’s work plan and other related issues. You can watch the meeting recording on the ASAF meeting page.
  • The Emerging Economies Group (EEG) meeting took place on 3–4 November 2025 in Seoul, South Korea. EEG members discussed the IASB’s standard-setting projects and accounting issues topical in their jurisdictions. Watch the recording on the EEG meetings page.
  • In November 2025 the IASB announced the members of its Financial Instruments Consultative Group (FICG). The FICG is a new group created to support the IASB’s projects related to financial instruments by providing specialist technical knowledge and practical insights. The FICG first met in December 2025 to discuss the IASB’s project on Amortised Cost Measurement. On its second meeting in March 2026 the FICG discussed the IASB’s projects on Financial Instruments with Characteristics of Equity and Amendments to the Fair Value Option (IAS 28).
  • In 2024 the IASB introduced the IFRS 19 disclosure tracker, which lists the disclosure requirements in IFRS 19 Subsidiaries without Public Accountability: Disclosures and maps them to their equivalents in other IFRS Accounting Standards. The tracker is being updated regularly to reflect changes in both IFRS 19 and other IFRS Accounting Standards. You need to register on the tracker page to access the tracker.

Sustainability updates

  • In March 2026 the ISSB released a webcast on Climate resilience and climate-related scenario analysis requirements in IFRS S2. The webcast explains the requirements in IFRS S2 on disclosing information about climate resilience and the use of climate-related scenario analysis, including the proportionality mechanisms that enable entities to choose an approach to scenario analysis that is commensurate with their circumstances. An accompanying factsheet provides an overview of the webcast.
  • In February 2026 regulators convened for the first meeting of the ISSB’s Jurisdictional Adopters Working Group. Currently comprised of authorities from 33 jurisdictions, the group is an expansion of the former Jurisdictional Working Group. The group facilitates multilateral discussions about the use of ISSB Standards, including addressing cross-border considerations that promote efficiencies and comparable information for capital markets and preparers.
  • The Sustainability Consultative Committee met in February 2026. Members received an ISSB update and discussed the ISSB’s project on Nature-based Disclosures. 
  • The ISSB met on 26 February 2026 to discuss enhancing the SASB Standards after the public consultation closed on 30 November 2025. The ISSB discussed:
    • stakeholder feedback on the Exposure Draft Proposed Amendments to the SASB Standards and the next steps for the project;
    • a prospective exposure draft of proposed amendments to three SASB Standards; and
    • proposed consequential amendments to the Industry-based Guidance on Implementing IFRS S2.

All ISSB Updates and podcasts from ISSB monthly meetings are available on the ISSB Updates page.

Consultations open for comment

Open for comment consultations and the IFRS Interpretations Committee’s Tentative Agenda Decisions can be found in our open for comment section.

Accounting consultations

If you have any questions regarding the cooperation of the Foundation with national standard-setters, please contact Elena Kostina, IASB Technical Staff, via the Contact button.
 

Contact the NSS team