Overview
Grant Thornton International has published the 2026 edition of IFRS Example Consolidated Financial Statements (hereafter the “Example Consolidated Financial Statements”).
The Example Consolidated Financial Statements are based on the activities and results of Illustrative Corporation and its subsidiaries – a fictional consulting, service and retail entity which has been preparing IFRS Accounting Standards consolidated financial statements for several years. The form and content of IFRS financial statements will always depend on the activities and transactions of the reporting entity.
The Example Consolidated Financial Statements have been updated to reflect changes in IFRS Accounting Standards that are effective for the year ending December 31, 2026. No account has been taken of any new developments after September 30, 2026.
In particular, the 2026 edition reflects the early adoption of IFRS 18, Presentation and Disclosure in Financial Statements, issued by the IASB in April 2024 and effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted. IFRS 18 replaces IAS 1, Presentation of Financial Statements, and introduces revised principles for the presentation and disclosure of information in the financial statements, while retaining the general requirements previously contained in IAS 1.
The majority of entities will not yet be applying IFRS 18, since it is not mandatorily effective until annual reporting periods beginning on or after January 1, 2027. Entities that have not adopted IFRS 18 should refer instead to the IFRS Example Consolidated Financial Statements 2025, which were prepared applying IAS 1.
Please note that there have been several developments since the 2025 edition that are not related to IFRS 18 but are relevant to entities continuing to apply IAS 1. These are illustrated in Appendix D of the 2026 edition.
Resource
The document IFRS Example Consolidated Financial Statements 2026 follows this IFRS Adviser Alert.
