Dear respondent,
This questionnaire asks preparers of financial statements who apply UK-adopted International Accounting Standards for their views on the recently issued Standard IFRS 18 Presentation and Disclosure in Financial Statements (the Standard).
IFRS 18 was issued by the International Accounting Standards Board (IASB) in April 2024 and provides general presentation and disclosure requirements to improve how information is communicated in the financial statements, with a focus on the income statement.
The information collected from this survey is intended to help the UK Endorsement Board (UKEB)* assess the impact of IFRS 18 on UK organisations adopting the Standard. This will form part of the work necessary to assess the Standard for UK adoption. If adopted in the UK, IFRS 18 will apply to annual reporting periods beginning on or after 1 January 2027.
More information on IFRS 18, including on how to access the final Standard, and supporting material can be found here.
The questionnaire seeks preparers' views regarding:
- The presentation and disclosure requirements in the Standard; and
- Any likely costs and benefits derived from the application of the requirements in IFRS 18, as well as wider economic effects.
Your responses will make a valuable contribution to the UKEB’s understanding of preparers’ views on the implementation of IFRS 18 and will be used as input to the UKEB's decision on whether to adopt the Standard for use in the UK.
Who should respond to this survey?
Organisations that prepare financial statements using IFRS and are listed and/or incorporated in the UK as they could be impacted by the timing of the endorsement and adoption of IFRS 18. Some familiarity with IFRS 18 may help but is not required as the questionnaire contains explanatory text and provides links to education materials.
If you are not the best placed person in the organisation to respond or do not possess all the information you need, please circulate the questionnaire among relevant colleagues (this is why we also attached the Word version) and don’t hesitate to contact us if you need support in completing the survey.
How long will it take?
How long the questionnaire will take to complete will depend on familiarity with the standard. Respondents who have prior knowledge of the standard may skip the educational materials and complete the survey in approximately 20 minutes. However, if educational materials are needed to contextualise, the survey will take approximately 40 minutes to complete.