From 2028, a new Accounting Act is expected to come into effect, which, among other things, expands the range of entities required to prepare financial statements in accordance with IFRS accounting standards. For these entities – and others – it may be particularly valuable to have the opportunity to provide feedback on the planned changes being developed by the IASB.

An inside look at the IASB

First, let us briefly summarise how new standards or amendments to existing standards come into being.

Every five years, the IASB (International Accounting Standards Board) conducts a comprehensive review and consultation to define international standard-setting priorities and develop its project work plan. The IASB can also add other topics to its work plan if necessary.

The IASB begins most projects with research – explore the issues, identify possible solutions and decide whether standard-setting is required. Often, a discussion paper is issued to seek public comment.

If the IASB decides to amend an Accounting Standard or issue a new one, they generally review the research, including comments on the discussion paper. Proposals for a new Accounting Standard or an amendment to an Accounting Standard are published in an exposure draft for public consultation.

The IASB analyses feedback and refines proposals before the new Accounting Standard, or an amendment to an Accounting Standard, is issued.

Current exposure drafts open for public consultation

The public currently has the opportunity to submit comments and suggestions to the IASB on the following two exposure drafts.

Amendmets to IFRS 9 a IFRS 7 Risk Mitigation Accounting

On 3 December 2025 the IASB published an exposure draft IASB/ED/2025/1 Risk Mitigation Accounting.

When IFRS 9 Financial instruments was introduced, it improved hedge accounting and disclosure requirements to enable entities to better reflect their risk management activities in their financial statements. However, it did not cover portfolio (or ‘macro’) hedge accounting of open portfolios with frequently changing risk positions.

To cover this area, the IASB finally decided to develop a new approach, focussing only on repricing risk. Repricing risk is a type of interest rate risk that arises at a portfolio level, when there are differences in the timing and/or amount at which an entity’s financial instruments reprice to market interest rates, leading to variability in the cash flows or fair value (or both) of these financial instruments. The IASB developed the proposed requirements of Risk Mitigation Accounting (previously Dynamic Risk Management) in this exposure draft, that entities can apply proportionately, reflecting the sophistication of their business and risk management activities.

The IASB proposes to amend IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures:

• to add a risk mitigation accounting model for companies managing repricing risk on a net basis; and
• to require a company to disclose its strategy for managing repricing risk and the effects of its risk management activities.

The IASB also seeks feedback and insights on the proposed withdrawal of IAS 39 Financial Instruments: Recognition and Measurement.

The comment period for the ED is open until 31 July 2026, with the extended comment period intended to allow sufficient time for financial institutions and other interested parties to field-test the requirements, using their own data and to provide practical feedback to the IASB.

You can find more information about this exposure draft in our iGAAP in Focus: IASB proposes new requirements on risk mitigation accounting or in Exposure Draft Snapshot prepared by the IFRS Foundation.

Amendments IAS 28 Amendments to the Fair Value Option for Investments in Associates and Joint Ventures

On 19 February 2026 the IASB published an exposure draft IASB/ED/2026/1 Amendments to the Fair Value Option for Investments in Associates and Joint Ventures.

Currently, IAS 28 permits an entity to elect to measure an investment in an associate or a joint venture at fair value through profit or loss in accordance with IFRS 9 Financial Instruments if the investment is held by a venture capital organisation, or a mutual fund, unit trust and ‘similar entities’, including investment-linked insurance funds.

The IASB is proposing to amend IAS 28 Investments in Associates and Joint Ventures to clarify that ‘similar entities’ include those that have a main business activity of investing in particular types of assets (as set out in paragraph 49(a) of IFRS 18 Presentation and Disclosure in Financial Statements).

The IASB proposes that an entity apply the amendments at the same time as it applies IFRS 18, using an existing transition provision of IFRS 18 addressing use of the fair value option.

Comments are requested by 20 April 2026. The IASB plans to issue any resulting amendments by mid-2026.

You can find more information about this exposure draft in our iGAAP in Focus: IASB proposes amendments to the fair value option for investments in associates and joint ventures.

Sources: www.iasplus, iGAAP in Focus