Implementing IFRS 18 and 19

This webinar will provide a practical walkthrough of the main changes brought about by the new standard, including the revised structure of the statement of profit or loss, new disclosure requirements for management-defined performance measures, and the expanded requirements for aggregation and disaggregation of information in financial statements. Furthermore, the discussion will include the specific requirements that apply to entities whose main business activity is investing or financing. 

The session will also focus on what companies should be prioritising in the immediate term and over the next year to ensure a successful adoption of IFRS 18, not only in relation to the impacts on current financial reporting processes, but also the implications for technology and finance personnel. 

In addition, the webinar will delve into IFRS 19 ‘Subsidiaries without Public Accountability’. This standard specifies reduced disclosure requirements that an eligible entity may apply instead of the disclosure requirements in other IFRS Accounting Standards. Relevant topics to be discussed during the webinar include the scoping criteria for when entities may elect to apply the standard, what constitutes public accountability, and the simplified disclosure requirements brought about by the standard.

Key highlights

• IFRS 18 overview: Gain a practical overview of the main changes introduced by the standard, including the changes to the structure of the statement of profit or loss, new disclosure requirements for management-defined performance measures and the expanded principles for aggregation and disaggregation.
• Banking and Insurance Companies: Explore the IFRS 18 requirements that apply to entities whose main business activity is investing or financing.
• IFRS 18 Implementation roadmap: Identify where companies should be in the implementation journey today and over the next year to prepare for the adoption of IFRS 18, including impacts on systems, processes, and finance teams.
• IFRS 19 overview: Discover how IFRS 19 may offer reduced disclosure requirements for eligible subsidiaries without public accountability.

Why attend

• Practical insights: Obtain practical insights into how IFRS 18 and IFRS 19 will impact financial reporting and what actions are needed for a smooth transition.
• Expert guidance: Receive actionable insights into how to implement changes to reporting structures, internal processes, and technology.
• Industry-specific requirements: Learn how IFRS 18 applies differently to entities whose main business activity is investing or financing, and what this means for the presentation of income and expenses in the statement of profit or loss.
• Simplified disclosures: Explore how IFRS 19 may result in simplified disclosure requirements for qualifying subsidiaries.

Who should attend

• CFOs and finance directors looking to drive finance strategy and lead a successful IFRS implementation across the organisation.
• Preparers of financial statements aiming to understand and apply the new presentation and disclosure requirements in practice.
• Financial controllers focused on aligning reporting processes, controls, and internal systems with IFRS 18.
• Insurance and banking finance executives aiming to understand and implement industry-specific IFRS 18 requirements.