The Swedish Financial Supervisory Authority will allow firms to choose between two approaches to financial reporting for the first and second quarters of 2027, following the entry into force of International Financial Reporting Standard 18 on Jan. 1, 2027. Firms may continue reporting solely through the Financial Reporting framework, or FINREP, or use a separate IFRS 18 module in the authority’s Fidac reporting system alongside FINREP. Firms choosing the IFRS 18 module must omit the corresponding templates from their FINREP submissions. The module, included in the European Banking Authority’s reporting and disclosure technical package version 4.4 phase 1, primarily covers the income statement and related information. It will serve as a transitional arrangement until revised FINREP requirements reflecting IFRS 18 are expected to apply from third-quarter 2027 reporting, when the separate module will be removed from Fidac. The authority will contact all firms that currently submit financial reports during October to confirm which option they intend to use. Firms must respond by Nov. 30, 2026, and those selecting the IFRS 18 module will receive access and reporting instructions when the module is technically available.
Swedish Financial Supervisory Authority offers two IFRS 18 reporting options for first two quarters of 2027
The Swedish Financial Supervisory Authority will offer two reporting options for the first two quarters of 2027 as IFRS 18 takes effect. Firms may continue using FINREP alone or use a separate IFRS 18 module while excluding overlapping FINREP templates. Revised FINREP requirements are expected to apply from third-quarter 2027 reporting.