Executive summary
The IFRS Financial Statements App 2026.1 (2.143.0.0) release delivers major enhancements across compliance, entity support, and usability.
Key highlights include:
- IFRS 18 early adoption support alongside IAS 1, with new income statement categories and notes
- Trust entity type with adapted statements, notes, and a Trustee's Report
- Compilation engagement support in accordance with ISRS 4410 (Revised), activated via 101 – Engagement Setup
- Statement of financial position “Order of liquidity” layout
- Other enhancements
- Assurance reports — embedded PDF areas for all four assurance report types
- Refreshed Basis of Preparation options and a new Lack of Exchangeability note (IAS 21)
- Smart auto-hide for notes, prior-year sections, and reconciliation columns
- Standardised table layouts for Investments, Derivatives, and Borrowings
- Paragraph and font formatting standardised across all statements
Contents
1. Update to latest template
A new engagement is created based on a template. Templates are created and managed by authors — staff members with the Settings Admin role or similar — who customise the default product content to meet specific firm needs. Following this release, firm authors are required to update the enterprise firm template to make the 2026.1 changes available to their users.
Further guidance: Detailed step-by-step instructions for each scenario are available at the following link
2. IFRS 18 early adoption
Entities can now report under IFRS 18 or continue with IAS 1 — selected per engagement in 101 – Engagement Setup. The two frameworks are mutually exclusive within a single file; switching to IFRS 18 activates all IFRS 18 content and hides IAS 1-only layouts. Full details: IFRS 18 adoption
| Area | What changes |
| Statement of financial performance | New IFRS 18 layout with operating, investing and financing categories; new subtotals (profit (loss) before financing and income taxes, net interest income (expenses), net rent income (expenses), net other income (expenses)). |
| Detailed Income statement (DETIS) | IFRS 18-aligned DETIS; expand rows to the required level of detail. |
| Statement of cash flows | Parallel IAS 1 and IFRS 18 structures for operating activities (direct and indirect); investing and financing sections updated. |
| Groupings | A new IFRS 18 grouping structure is introduced to accommodate the disclosure requirements of IFRS 18, covering income and expense categories, financing and investing activities, and gains and losses. |
| New notes | Other financing income/expenses, Finance cost 1, Other investment gains (losses), Net interest/rent income, Management performance measures, and more. |
| Shared notes | Revenue, Expenses, Investment income, Taxation and others automatically show IFRS 18 variants when IFRS 18 is active. |
3. Trust entity
Selecting Trust as the entity type in 101 – Engagement Setup automatically adapts statements, notes, and terminology throughout the engagement. No manual intervention is required. Full details: Trust entity
| Area | What changes |
| Statement of changes in equity | Trust capital column and Allocation to beneficiaries rows; company-only columns hidden. |
| Statement of cash flows | Distinct lines for distributions to beneficiaries and capital introduced; improved reconciliations. |
| Trustee's report | The same underlying Directors’ and Trustee’s report structure is used for both entity types (company and trust). The report title and included sections are dynamically controlled by the entity type selection. Only the relevant sections for the selected entity type will appear; the other sections are hidden. |
| Notes | Trust-specific notes appear automatically when entity type is Trust and relevant balances exist. |
This release introduces support for compilation engagements performed in accordance with ISRS 4410 (Revised) - Compilation Engagements. Firms can now prepare IFRS financial statements under a compilation engagement directly within the app, without requiring a separate template or manual adaptation of an audit or review file.
When Preparation and Compilation is selected as the engagement type in 101 - Engagement Setup, the app activates the appropriate compilation-specific content and suppresses sections that are not applicable to a compilation. The Compilation Report page is included automatically and uses the embedded PDF area introduced in this release, allowing you to insert your signed compilation report directly into the financial statements.
Terminology and report headings are updated throughout the file to align with ISRS 4410 (Revised) requirements, including the exclusion of references to assurance or opinions that are inappropriate for a compilation engagement. The entity name entered in Engagement Setup flows automatically into the report heading and header, ensuring consistency across the financial statements.
Compilation engagements follow the same note visibility and balance-mapping logic as other engagement types. Notes are shown or hidden based on mapped balances and selections in 181 - Immaterial exclusion checklist, so the financial statements remain concise and relevant to the engagement. No additional configuration is required beyond setting the engagement type in Document 101.
5. Statement of financial position “Order of liquidity” layout
The Statement of financial position (Balance sheet) now includes a new “Order of liquidity” layout option, in addition to the standard current/non-current layout. In Document 101, you can choose to present the Balance sheet using either layout. This option is available regardless of whether the engagement uses IAS 1 or IFRS 18.
When selected the app displays a dedicated “order of liquidity” Balance sheet that organises assets and liabilities by liquidity rather than the traditional current/non current split. Note references in the liquidity layout are linked to the same underlying notes as the existing balance sheet, ensuring consistency across presentation formats.
Important note: This layout includes sub groups that link non current and current portions individually where applicable. If the “order of liquidity” layout has been selected, consideration should be given when additional grouping numbers are added, as additional customisation will be required in the balance sheet. The Notes to the financial statements will also have to be sorted manually when selecting this option.
6. Assurance reports
All four assurance report pages now include a dedicated embedded PDF area, replacing the previous placeholder text and manual page-break approach. Insert your signed report PDF directly into the space; it will print and export seamlessly with the financial statements.
- Audit Report
- Independent Reviewer's Report
- Compilation Report
- Other Assurance Report
Page headings and headers automatically use the entity name from Engagement Setup, ensuring consistency without manual re-entry.
Basis of Preparation options in 101 – Engagement Setup have been refreshed with clearer, standardised IFRS-compliant wording. The selected text flows automatically into the note and all relevant sections of the financial statements.
A new structured note is available for IAS 21 disclosure when a currency cannot be exchanged at a normal rate. Enable it in 203 – Financial Statement Optimiser. The note includes tables for affected assets and liabilities, narrative sections for describing the restriction, and automatic roll-forward behaviour.
A new option in 101 – Engagement Setup lets you display "Restated" (or custom wording such as "Restated*") in prior-year column headings on the face of the financial statements. Particularly useful for entities early-adopting IFRS 18 where prior-year Statement of financial performance figures must be restated.
Notes, prior-year sections, and reconciliation columns now respond intelligently to mapped balances and engagement settings, keeping financial statements concise without manual intervention.
| Area | Behaviour |
| Share capital / Group loans | Sub-sections hidden when no balances are mapped. |
| Operating profit, Loans receivable/payable | Detailed sub-sections (e.g. Employee costs, Depreciation) appear only with mapped balances. |
| Prior-year sections | Hidden automatically for first-year engagements or when the linked current-year note is hidden. |
| Reconciliation columns | Columns with no activity, which are linked to grouping (e.g. land, buildings, etc.) are suppressed automatically. |
| Statement of changes in equity | Columns with no activity, which are linked to grouping (e.g. different reserves and NCI) or entity type (e.g. share capital and trust capital) are suppressed automatically. |
| 181 – Immaterial exclusion checklist | Grouping additions to drive notes specifically for IFRS 18 and Trusts |
| 203 – Financial statement optimiser | Procedures added for IAS 21 - Lack of exchangeability and Management performance measures (IFRS 18) |
9.1 Investments, Derivatives and Borrowings
These notes now open with a summary section followed by clearly separated sub-tables per category (e.g. fair value hierarchy tiers for Investments, hedging vs non-hedging for Derivatives, secured vs unsecured for Borrowings). Each sub-table includes a terms-and-conditions placeholder and appears only when relevant balances exist.
9.2 Paragraph formatting standardisation
All paragraphs across the financial statements now use the template's defined styles. Manual formatting has been cleared, so font, size, and spacing are controlled centrally. Text typed or pasted into any section will automatically adopt the correct style.
Use the checklist below when preparing engagements under this release:
| Action | Detail |
| Update to latest template | Update the enterprise firm template in Manage Template. If using the default template, select "Update from 2.143.0.0" button, and then Publish template. |
| IFRS 18 (if applicable) | Select IFRS 18 in Document 101, enable the Restated heading option, and re-assign accounts to new IFRS 18 grouping numbers. Enable relevant new notes in Document 181 and Document 203. |
| Trust entity (if applicable) | Set entity type to Trust in Document 101. Review SCE, cash flow, and Trustee's Report. Map balances to trust groupings (806 for trust capital, 810-500 for allocations). |
| Compilation (if applicable) | Select Compilation as the engagement type in Document 101. Confirm the Compilation Report page is present and insert the signed compilation report PDF into the embedded PDF area. |
| Assurance reports | Insert signed PDFs using the new embedded PDF areas. Verify entity name in Engagement Setup drives headings correctly. |
| Engagement Setup | Select the updated Basis of Preparation option. Review updated disclaimer wording. |
| Lack of Exchangeability | Enable in Document 203 if relevant; complete tables and narrative. |
| Note visibility | After mapping, check Share Capital, Group Loans, Operating Profit, and Loan notes. Confirm prior-year and reconciliation column behaviour. |
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