The Grant Thornton International IFRS team has published the 2015 version of the Example Interim Consolidated Financial Statements, which has been revised and updated to reflect changes in IFRS, including IAS 34 Interim Financial Reporting (IAS 34), that are effective for the year ending December 31, 2015.

Example Interim Consolidated Financial Statements—summary

The example interim consolidated financial statements illustrate condensed interim statements for a six month accounting period beginning on January 1, 2015. The condensed interim consolidated financial statements are based on the activities and results of Illustrative Corporation and its subsidiariesa fictional consulting, service and retail company that has been preparing IFRS financial statements for several years and produces half-yearly interim reports in accordance with IAS 34 at June 30, 2015.

Entities have a choice of preparing a condensed set of interim financial statements or a full set of IFRS financial statements, when applying IAS 34. As previously noted, this publication illustrates a condensed set of interim financial statements. In cases where entities choose to present a full set of financial statements in the interim financial report, the form and content of those financial statements are required to conform to the requirements of IAS 1 Presentation of Financial Statements for a complete set of financial statements, as required by IAS 34.9.

It is important to remember that the objective in preparing example interim financial statements is to illustrate one possible approach to interim reporting by an entity engaging in transactions that are considered typical across a range of nonspecialist sectors. The attached financial statements are an illustrative example only and should not be considered comprehensive.


The Example Interim Consolidated Financial Statements 2015 follows this Adviser alert.

Please note that this publication has not been modified from its original version (English version only).