IFRS Update 2026

Annual IFRS Update

Date: 15–16 June 2026
Venue: Arrebusch Travel Lodge
Registration link: https://forms.gle/7By3ZbrMicHgW3d66

The Institute of Chartered Accountants of Namibia will host the Annual IFRS Update, a two-day professional development course aimed at preparing financial reporting stakeholders for upcoming changes in IFRS Accounting Standards.

This course is designed for preparers of financial statements, auditors, audit committee members and board members. It will focus on changes that will take effect from 2026 and 2027, while also providing important reminders on changes to standards that are already in place and require close attention.

This two-day event is aimed at preparers of financial statements, auditors, audit committee members and board members to prepare them for changes that will take effect from 2026 and 2027, with some reminders of those changes to standards that are already in place and to which we must pay particular attention. The Annual IFRS Update will cover the following:

IASB Workplan

This session will also discuss the IASB Workplan, and give an update on the status of some of the major projects currently in progress, highlighting those areas that each reporting entity must take cognisance of and comment on as appropriate.

IFRS 18 Presentation and Disclosure in Financial Statements,

IFRS 18 is a new standard which will change the manner in which financial statements are presented. It will replace IAS 1 and its issuance is in response to concerns that were raised by investors around lack of comparability in profit sub-totals, inconsistent use of management-defined performance measures, and poor aggregation and disaggregation practices.

It is effective for annual periods beginning on or after 1 January 2027 with retrospective application. The changes in presentation and disclosure required by IFRS 18 might require system and process changes for many entities, so entities should consider the requirements of the standard and how they should prepare for its adoption.

IFRS 19 Subsidiaries without Public Accountability: Disclosures

IFRS 19 is a disclosure-only standard issued with the primary purpose being to reduce the disclosure burden for eligible subsidiaries while maintaining the integrity and usefulness of financial statements. It simplifies the financial reporting for subsidiaries that do not have public accountability while allowing them to fully comply with the requirements of IFRS. Application of the standard should result in cost savings, reduced audit effort and improved efficiency in financial systems and processes.

Regulator Feedback

Regulators across the world, whether they be audit regulators or stock exchanges or other statutorily established bodies, have been engaged in reviews of the financial statements that are issued in their jurisdictions for several years now and often compare notes amongst each other to determine what the emerging issues are and where improvements in the quality of reporting can be achieved. This session will cover some of the latest feedback from these review processes and address the issues identified and how preparers, boards and auditors should consider the same in order to ensure the effectiveness of their processes.

Amendments effective for financial years beginning 1 January 2026

IFRS Accounting Standards constantly evolve from year to year. This session will cover recent developments that became effective for financial periods beginning on or after 1 January 2026. The overview will allow the attendees to ascertain how they may be affected and to the extent that they have not yet effected the changes, to determine how they should proceed. For those that have already taken steps to effect the changes, this is an opportunity to ensure that they understand the impact of the changes. The changes that will be covered include, amongst others, the following:

• Amendments to the classification and measurement of financial instruments
• Amendments to IAS Cash flow statements
• Derecognition of lease liabilities
• Introduction and Credit Risk Disclosures (Amendments to Guidance on implementing IFRS 7)

IFRS for SMEs 2025

The IFRS for SMEs Accounting Standard became effective in 2009 and has been adopted by many companies around the world as a simplified financial reporting framework for companies who do not have public accountability. The Third Edition of the IFRS for SMEs Accounting Standard was issued in February 2025, with an effective date of 1 January 2027. This course highlights the key changes from the Second Edition of the standard.

About the facilitator

Raymond Chamboko CA(Z) CA(SA) Director, W.consulting

 Raymond is a specialist corporate reporting advisory and professional development firm with offices in South Africa, Mauritius, and the United Kingdom, and a global advisory footprint. His client list and work experience includes listed multinationals, public interest entities, and unlisted organisations- both large and small.

Raymond is a recognised authority on International Financial Reporting Standards (IFRS) and IFRS for SMEs, advising organisations on interpretation, implementation, and regulatory application. His experience includes consulting to the World Bank on IFRS and IFRS for SMEs capacity building in Southern Africa, and delivering executive-level training across Africa and internationally.

He is a co-author of Applying IFRS for SMEs and was a long-standing contributor to Wiley’s Interpretation and Application of IFRS. Raymond represents PAFA on the IFRS Foundation’s ASAF, chairs PAFA’s Corporate Value Reporting Technical Advisory Group, and serves on multiple influential standard-setting and governance bodies.