What You Need to Know on Financial Reporting in 2025

At the event co-hosted by EFRAG, ABAF-BVFA, and CNB-CNC on 6 February, key upcoming developments in financial reporting were highlighted.

​On 6 February, investors and other experts gathered at the hybrid event co-hosted by EFRAG, ABAF-BVFA, and CNB-CNC to discuss key developments shaping the future of financial reporting. With a focus on user-oriented projects, newly issued IFRS Accounting Standards and other forthcoming amendments, the event provided valuable insights into what lies ahead in 2025.

Sadi Podevijn, CBN-CNC Secretary General, EFRAG Financial Reporting Board (FRB) member, stated:

"The landscape of financial reporting is changing rapidly, driven by advancements in technology, regulatory changes, and shifting market dynamics. In this context, it is essential for us to stay ahead of the curve and anticipate the needs of those who rely on these reports, such as investors, analysts, and other stakeholders".

To this end, Nick Anderson (IASB member), and Wolf Klinz (EFRAG FRB Chair), opened the event with an overview of IASB's and EFRAG's workplans for 2025. This was followed by a discussion on user-oriented projects, moderated by Serge Pattyn, ABAF-BVFA Board member, EFFAS Commission Financial Reporting Member - Vice-Chair EFRAG FRB.

"To enable users to do their job well, we not only strive to keep them informed of changes to IFRS Accounting Standards but also seek their cooperation in continuously improving the Standards", stated Pattyn.

Nick Anderson, IASB member, said:

"As a former portfolio manager, I always welcome the opportunity for a dialogue with analysts and investors about developments in IFRS Accounting Standards. This group, as users of financial statements, has an important role to play in shaping our work, helping ensure that the statements provide information that supports their investment decisions while achieving an appropriate balance of costs and benefits."

Wolf Klinz, EFRAG FRB Chair, said:

"EFRAG’s mission is to support the implementation of global financial reporting standards, with a strong emphasis on the European public interest. This requires, above all, an in-depth understanding of investors’ and users’ interests and concerns, and advocating on their behalf. EFRAG’s hybrid seminar, Financial Reporting – What’s Ahead for 2025?, highlighted this year’s key projects and underscored the vital contribution of investors and users to EFRAG’s work."

IFRS 18 Presentation and Disclosure in Financial Statements

EFRAG explained that by defining a common principle for including items in operating profit, IFRS 18 enhances users' ability to compare entities' performance and make informed investment decisions.

Furthermore, the disclosure requirements regarding Management Performance Measures aim to improve transparency, while the guidance on aggregation and disaggregation improves the readability and relevance of financial statements for users.

IFRS 19 Subsidiaries without Public Accountability: Disclosures

The new standard reduces reporting burdens while maintaining access to crucial information by limiting the scope to subsidiaries without public accountabilities, whose parent companies report in full IFRS. Information missing in reduced disclosures under IFRS 19 can typically be found in the parent company's financial statements prepared under full IFRS.

A detailed report will be published in due course on the event page.

Next Opportunities for Engagement

  • Become a "Friend of EFRAG" and support its mission, ensuring that the European views are properly considered in the IASB’s standard-setting process and related international debates.

  • 28 February

Deadline for financial statement preparers and users to submit feedback on the voluntary application of IFRS 19 Subsidiaries without Public Accountability: Disclosures.

  • 26 March

Deadline for comments to IFRS 18 Presentation and Disclosure in Financial Statements.

  • 31 March

Deadline for preparers of financial statements of rate-regulated entities to provide input on the feasibility and potential impact of the upcoming IASB Standard on Regulatory Assets and Liabilities. View Survey

  • 15 May 2025

Deadline for users to provide feedback to EFRAG's Discussion paper on the Statement of Cash Flows.

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