Editorial

IFRS 18, Presentation and Disclosure in Financial Statements, is the most far-reaching standard that the IASB has published for some years, and possibly ever. An exploration of the implications and complexities of the standard is the subject of a series of three articles in WAR, each focusing on a different aspect of the standard. The first covered new requirements for sub-totals in income statements (WAR, June 2024), which will enhance their comparability for investors. The second looked at the innovative new disclosure requirements set out in the standard relating to the use of management-defined performance measures (MPMs), which differ from sub-totals of income that are defined elsewhere in IFRS (WAR, July 2024). This issue features the final article in the series of three, which addresses new requirements set out in the standard relating to the aggregation, or grouping, of information that are likely to have a significant impact on reporting practices. During the IFRS Foundation Conference 2024, IASB member Nick Anderson described these new provisions as "the hidden gem in IFRS 18".