The latest edition of Grant Thornton International publication “Navigating the changes to International Financial Reporting Standards: a briefing for preparers of IFRS financial statements” is designed to give preparers of financial statements a high-level awareness of recent changes that will affect companies’ future financial reporting.

It covers both new Standards and Interpretations that have been issued and amendments made to existing ones, as published between 1 January 2022 and 31 December 2022.

The current edition covers 31 March 2022, 30 June 2022, 30 September 2022, 31 December 2022 and 31 March 2023 financial year ends.

The publication is designed to help entities planning for a specific financial reporting year end identify:

• changes mandatorily effective for the first time,
• changes not yet effective,
• changes already in effect.

For each change covered in the publication, consideration has been given to its commercial implications, focusing on how many entities will be affected and what will be the impact on affected entities.