ASCG comment letter on tentative agenda decisions taken by the IFRS IC in June 2025

On 6 October 2025, the ASCG has submitted its comment letter on tentative agenda decisions (TAD) taken by the IFRS Interpretations Committee in its June 2025 meeting.

At its June 2025 meeting, the IFRS IC decided on updates to ten previous agenda decisions on IAS 1 due to the introduction of IFRS 18 (which replaces IAS 1) and published them for public consultation. In particular, the IFRS IC tentatively decided to update selected agenda decisions with regard to references relating to general requirements for the presentation, materiality and aggregation of information in financial statements by replacing references to IAS 1 with references to the new or amended requirements in IFRS 18.

In our comment letter, we agree with the IFRS IC’s general approach to updating the respective agenda decisions. However, it is not clear from the agenda decisions whether the update is intended to result in a change to previous reporting practice. In this context, we note that, in practice, there may be a lack of awareness that an entity may arrive at a different conclusion (than before) when applying the updated agenda decisions. However, this is due to the new requirements in IFRS 18 (regarding the new principles on aggregation and disaggregation of information and the new requirements on the role of the primary financial statements and the notes, including the new concept of a ‘useful structured summary’). Therefore, we suggest the IFRS IC raise awareness amongst its stakeholders by communicating that, in the course of implementing IFRS 18, any previous implementation of the agenda decisions may need to be reviewed in light of the new or amended requirements in IFRS 18.