The implications of IFRS 18 for central banks
The new accounting rule may require changes in reporting practices and systems, complicating consistency and materiality considerations
In 2024, the International Accounting Standards Board issued IFRS 18, ‘Presentation and disclosure in financial statements’, with an implementation date of January 1, 2027, for periods beginning on or after that date. Earlier adoption is permitted. Although still two years in the future, it is appropriate to consider the implications now as there may be changes required to presentations and hence systems and processes. This will apply to central banks that follow International Financial
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