IFRS EU endorsement process [June 2026]
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 19 June 2026.
IASB issued new standard IFRS 20
On 27 May 2026, the International Accounting Standards Board (IASB) published its new standard IFRS 20 ‘Regulatory Assets and Regulatory Liabilities'. IFRS 20 requires an entity that is subject to a regulatory …
New NAC Interpretation: How to account for spin-offs and non-cash contributions
In April 2026, the National Accounting Council (NAC) issued Interpretation I-54: Measurement of Financial Investments in Contributions and Spin-offs (the “Interpretation”), addressing practical issues in accoun…
ESMA published a report on the activities of corporate reporting enforcers and their findings in 2025
On 7 May 2026, the European Securities and Markets Authority (ESMA) published a report on the corporate reporting enforcement and regulatory activities of financial reporting enforcers within the European Econo…
Fundamental changes in applying the equity method measurement in separate financial statements
On 23 March 2026, the National Accounting Council approved a new Interpretation I-53 Accounting for investments using the equity method in separate financial statements. In the following article, we summarise t…
Categorisation of reporting entities and the new Accounting Act
We have already informed you that the thresholds for the categorisation of reporting entities have been increased and that the mandatory audit requirement for small reporting entities has been abolished. Many c…
IFRS 9: Interesting IFRS Interpretations Committee Agenda Decisions
In the first quarter of 2026, the IFRS Interpretations Committee issued two interesting agenda decisions regarding IFRS 9 Financial Instruments.
New obligation to publish an income tax report: Does it affect your company?
The 2023 amendment to the Accounting Act (Act No. 441/2023 Coll.) introduced a new requirement for certain reporting entities to prepare and disclose an income tax report (the so called public CbCR), including …
Public consultation on IASB proposals: An opportunity to influence the development of IFRS Standards
Currently, a public consultation is underway on two interesting exposure drafts proposing amendments to existing IFRS accounting standards, giving the public a chance to provide feedback. In particular, the dra…