Current as of 3 August 2026. This roadmap starts with EFRAG's June 2026 Update and incorporates the material IASB, EFRAG and ESRS developments published during July and through 3 August.
- 01Current status. IFRS 20 is issued; IAS 28 has reached EFRAG endorsement advice; Risk Mitigation Accounting and ESRS-40a remain exposure drafts.
- 02Next deadlines. The active consultation calendar runs from 15 September to 30 November 2026.
- 03Implementation horizon. The first major application date is 1 January 2027, followed by FY2028 reporting and IFRS 20 in 2029.
The reporting roadmap at a glance
These four projects require different responses: implementation, endorsement monitoring, consultation feedback or scope assessment. Open a card to see what changed, why it matters, what to check now and the next milestone.
Current position — 3 August 2026
Issued + endorsement adviceEffective 2027IAS 28 fair value option amendments
The IASB has issued the amendments and EFRAG has submitted positive endorsement advice. EU endorsement remains a separate step.
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The IASB issued narrow-scope amendments on 26 June 2026. EFRAG then submitted positive endorsement advice to the European Commission on 23 July.
The amendments clarify eligibility for the fair value option for certain investments in associates and joint ventures. For insurers and investment-focused entities, the conclusion may also affect how related income and expenses are presented when IFRS 18 is applied.
Review the population of associates and joint ventures, the current IAS 28 accounting policy, the basis for using the fair value option and the related IFRS 18 presentation mapping.
Monitor EU endorsement and complete the assessment alongside IFRS 18 implementation for annual periods beginning on or after 1 January 2027.
Issued standardEffective 2029IFRS 20
The final standard has been issued by the IASB. For European reporters, the EU endorsement process remains an additional dependency.
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The IASB issued IFRS 20 Regulatory Assets and Regulatory Liabilities on 27 May 2026. The standard replaces IFRS 14 and is effective from 1 January 2029, with earlier application permitted.
Affected entities will recognise regulatory assets, regulatory liabilities, regulatory income and regulatory expense arising from qualifying rate regulation. This may require data that is not captured in existing financial-reporting systems.
Identify qualifying rate-regulated activities and assess regulatory agreements, timing differences, accounting policies, data models, controls, transition choices and required disclosures.
European reporters should monitor the separate EU endorsement process while beginning proportionate implementation planning where systems and data changes may be material.
Exposure draftFeedback through Nov 2026Risk Mitigation Accounting
The proposals remain open for feedback and fieldwork. They may change how dynamic net repricing-risk management is reflected under IFRS 9 and IFRS 7.
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The IASB exposure draft proposes amendments to IFRS 9 and IFRS 7 for companies managing repricing risk dynamically on a net basis. The proposals remain open and can still change.
The project aims to align accounting more closely with open-portfolio risk-management practices. Its usefulness will depend on whether the proposed mechanics, data requirements and disclosures work with actual risk-management systems.
Field-test representative portfolios and assess data granularity, designation and tracking processes, presentation effects, proposed disclosures and the operational cost of applying the model.
EFRAG surveys close on 15 September, comments on EFRAG's draft comment letter on 9 October, and the IASB consultation and fieldwork on 30 November 2026.
Exposure draftConsultation to 31 OctESRS-40a
EFRAG has launched the standard for certain non-EU undertakings. Scope and final requirements remain linked to the wider EU legislative process.
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EFRAG published the ESRS-40a exposure draft on 23 July 2026. The project covers sustainability reporting by certain non-EU undertakings under Article 40a of the Accounting Directive.
Groups within scope may need a sustainability statement covering a reporting perimeter and information set that differ from their existing voluntary or jurisdictional reporting. The final legal scope and standard may still change.
Map relevant EU subsidiaries and branches, assess the current scope criteria, define the reporting boundary and identify data, controls and assurance dependencies across the group.
The consultation closes on 31 October 2026. Continue monitoring the legislative process and verify the final scope before relying on exposure-draft thresholds or planning assumptions.
What happens next
How to read the roadmap
The expandable cards contain the project-level detail. Read them first by status: an issued standard requires implementation planning, endorsement advice requires jurisdiction-specific monitoring, and an exposure draft remains open to evidence and change.
The common thread is not the publication month. It is the decision that follows from the project's current stage. The roadmap therefore separates what is fixed, what is still moving and what the reporting team should do next.
Other June workstreams — including the IFRS 16 post-implementation review, intangibles, FICE, GRI and GHG Protocol consultations, and the ISSB nature project — remain monitoring items rather than the four primary tracks shown here.67
Why project status changes the required response
These projects appear next to each other in regulatory updates, but they do not represent the same type of reporting obligation. IFRS 20 is an issued standard with a defined effective date. The IAS 28 amendments have also been issued, but European companies still need to follow the EU endorsement process. Risk Mitigation Accounting and ESRS-40a remain proposals that can change before becoming mandatory requirements.
That distinction determines what a reporting team should do next. An issued standard requires implementation planning: accounting policies, systems, data, controls, transition choices and disclosures must be assessed against a fixed text. Endorsement activity requires jurisdiction-specific monitoring because IASB issuance does not automatically determine when an EU reporter can or must apply a requirement. An exposure draft calls for a different response: field testing, impact analysis, consultation feedback and continued monitoring of how the proposals develop.
Treating all of these as generic “updates” creates two opposite risks. Teams may start implementation work before the requirements are stable, or they may postpone action until a final standard leaves too little time for systems and reporting changes. The roadmap is therefore not just a calendar. It is a decision tool that links each project stage to the correct level of preparation.
Who needs to act — and why
The projects also affect different company populations. The practical scope assessment begins with business model, jurisdiction and reporting perimeter.
Insurance and investment groups
Focus on fair-value eligibility, presentation under IFRS 18 and EU endorsement.
Banks, insurers and treasury functions
Focus on dynamic repricing-risk practices, systems and proposed IFRS 7 disclosures.
Non-EU groups with significant EU activity
Focus on legal scope, reporting boundaries, EU turnover and data readiness.
Rate-regulated businesses
Focus on regulatory balances, accounting policy, data models and transition planning.
A chronological news feed cannot answer those questions. A roadmap can — because it connects publication status, deadlines, effective dates and affected populations.
From standard-setting update to reporting action
The practical workflow moves from the official requirement to company-level evidence and a documented action.
Clarifo can support the evidence step by locating how listed companies currently describe associates, rate-regulated activities, repricing risk and sustainability-reporting boundaries in annual and interim reports. It does not replace the official source, legal scope assessment or professional accounting judgement.
From publication tracking to impact management
A useful reporting roadmap should not end with the date on which a standard-setter published a document. Each project must be connected to the affected legal entities, the first relevant reporting period, the accounting policies and disclosures in scope, the decisions required and the person responsible for the next action.
The operational output is therefore a controlled impact register rather than a longer news feed. For every project, the register should show the current status, primary source, next deadline, expected application date, affected entities, likely reporting areas, unresolved questions and review owner. That structure makes it possible to distinguish immediate action from future monitoring and to preserve an audit trail for the conclusions reached.
This also clarifies the role of filing evidence. Standard-setting sources explain what may change; company filings show the current reporting baseline. Comparing the two helps identify where new recognition, measurement, presentation or disclosure requirements may create a real gap. The work remains a professional assessment, but the research becomes more traceable and repeatable.
Questions and answers
What does this financial reporting roadmap cover?
It covers the current status, next deadlines and application horizons for the IAS 28 fair value option amendments, IFRS 20, Risk Mitigation Accounting and ESRS-40a, updated through 3 August 2026.
Why is project status important?
Because an issued standard, an endorsement process and an exposure draft require different actions. One may require implementation, another jurisdiction-specific monitoring, and another field testing or consultation feedback.
What should a reporting roadmap contain?
At minimum: current status, primary source, next deadline, expected application date, affected entities and reporting areas, unresolved questions, required action and review owner.
Explore current reporting baselines with Clarifo
Search how listed companies currently report associates and joint ventures, rate-regulated activities, interest-rate risk and sustainability-reporting boundaries.
Use Clarifo MCP to search annual reports, interim reports and company disclosures directly from your AI workspace — with source-backed answers linked to the original documents.
EFRAG, EFRAG Update: June 2026, published 14 July 2026, and the related podcast announcement published 16 July 2026. efrag.org/en/june-2026.
EFRAG, EFRAG submits Endorsement Advice on Amendments to IAS 28 to the European Commission, 23 July 2026. efrag.org. See also IFRS Foundation, Amendments to the Fair Value Option (IAS 28). ifrs.org.
IFRS Foundation, IASB issues IFRS 20 to improve financial reporting for companies subject to rate regulation, 27 May 2026. ifrs.org. EFRAG, EU Endorsement Status Report, updated 23 July 2026. efrag.org.
EFRAG, Risk Mitigation Accounting — Exposure Draft Consultation. efrag.org. IFRS Foundation, Risk Mitigation Accounting — Exposure Draft and Comment Letters. ifrs.org.
EFRAG, ESRS for Certain Non-EU Undertakings in Accordance with Article 40a of the Accounting Directive, public consultation launched 23 July 2026. efrag.org.
IFRS Foundation, ISSB agrees on the proposed way forward for nature-related disclosures, May 2026. ifrs.org. EFRAG, Strengthening global standards on pollution reporting: EFRAG's Comment Letter to GRI, 16 June 2026. efrag.org. EFRAG, Comment Letter on the GHG Protocol's Actions and Market Instruments Phase 1 White Paper, 12 June 2026. efrag.org.
EFRAG, Voluntary ESAP template for SMEs and Startups — Assessment, final Assessment Report issued 30 June 2026. efrag.org.
IFRS Foundation, IFRS 18 Presentation and Disclosure in Financial Statements. IFRS 18 is effective for annual reporting periods beginning on or after 1 January 2027. ifrs.org.
This article is intended as information. It is not investment, legal or financial reporting advice and does not replace a professional assessment. Standard-setting projects, proposed requirements, legislative scope and endorsement timetables can change. Verify the status and applicability of each development from the relevant primary-source documents before relying on it.