The IFRS Foundation published an updated version of its educational material to support consistent application of IFRS Accounting Standards on going concern assessments and related disclosures. The material consolidates relevant requirements and illustrates how they may apply in different company situations, without changing or adding to existing IFRS requirements. Originally issued in 2021, the update reflects recent developments, including the International Accounting Standards Board’s issuance of IFRS 18 Presentation and Disclosure in Financial Statements. It also removes outdated references to the International Auditing and Assurance Standards Board’s going concern project and instead references ISA 570 (Revised 2024) Going Concern, approved by the IAASB in December 2024.
International Financial Reporting Standards Foundation 2025-05-13
International Financial Reporting Standards Foundation updates going concern educational material to reflect IFRS 18 and revised ISA 570
The International Financial Reporting Standards Foundation released updated educational material to aid consistent application of IFRS Accounting Standards on going concern assessments and disclosures. The update incorporates recent developments, including IFRS 18 and ISA 570 (Revised 2024), while removing outdated references.