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What firms should look for beneath the surface-level AI pitch

Consistency, context and human judgment: the real requirements for AI in assurance

For organisations reporting under FRS 101, the regulatory landscape has shifted considerably. While the standard itself has long provided a stable reduced disclosure framework for qualifying entities within groups, recent amendments and the advent of IFRS 18 mean that finance teams cannot afford to stand still.

The introduction of IFRS 18: Presentation and Disclosure in Financial Statements marks one of the most significant changes to IFRS reporting in recent years. Effective for annual reporting periods beginning on or after 1 January 2027, the new standard will reshape how organisations present financial performance and disclose key information in their financial statements.