[Global Financial Insights] IASB Finalises Amendments to IFRS 19
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- Last Updated on 29 August, 2025
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Global Financial Insights is a weekly feature for the Accounts and Audit Module subscribers of Taxmann.com. It provides you with the latest updates on financial reporting and auditing practices from across the globe. Here is this week’s financial update:-
1. IASB issues IFRS 19 amendments to finalise catch-up effort
The International Accounting Standards Board (IASB) has issued amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures, completing its planned catch-up effort on the standard.
IFRS 19, originally issued in May 2024, allows eligible subsidiaries to apply IFRS Accounting Standards with reduced disclosures. Initially, it covered disclosure relief only for Standards and amendments issued up to February 2021. The newly issued amendments extend this relief to Standards and amendments issued between February 2021 and May 2024, specifically:
(a) IFRS 18 Presentation and Disclosure in Financial Statements
(b) Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7)
(c) International Tax Reform—Pillar Two Model Rules (Amendments to IAS 12)
(d) Lack of Exchangeability (Amendments to IAS 21)
(e) Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7).
With these changes, IFRS 19 is now aligned with all IFRS Accounting Standards effective up to January 1, 2027, when the standard itself becomes applicable.
Going forward, the IASB will update IFRS 19 alongside other IFRS Standards.
Source – International Financial Reporting Standard
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