This free, guided checker walks your finance team through the key decision points for IAS 34 Interim Financial Reporting. Answer a few questions to see the likely treatment and the evidence to document.
Answer a few quick questions below. It is private - nothing is submitted or stored - and takes about a minute.
This tool is a high-level IFRS screening aid for general information only and is not accounting, audit or legal advice. Conclusions require entity-specific evidence and judgement - confirm the treatment with your advisor.
Here is what the checker asks and why each step matters. Prefer to talk it through? Contact us and we will help directly.
Tick each of the five condensed statements (financial position, profit or loss and OCI, changes in equity, cash flows) plus the selected explanatory notes against IAS 34.8, using at minimum the headings and subtotals from the most recent annual statements (IAS 34.10). The common defect is presenting the quarter without the cumulative year-to-date column, omitting basic and diluted EPS on the face where IAS 33 applies (IAS 34.11), or leaving out the explicit statement of compliance with IAS 34 (IAS 34.19).
Complete the IAS 34.8 minimum condensed statements and selected explanatory notes, with IAS 34.20 comparatives, before the interim report is issued.
Official guidance: IFRS issued standards
SAMA-approved bank interim formats present current period, prior year-end, and prior interim period balance sheets, which may require restating an extra comparative column beyond IAS 34 minimums.
Use the interactive tool above to see how this applies to your situation.
Official guidance: IFRS issued standards
Focus on updates that explain changes in financial position and performance without repeating annual-report detail, including structured-entity consolidation and equity-method changes.
Add the entity-specific significant-event and transaction disclosures required by IAS 34.15-15B and the other information required by IAS 34.16A before issuance.
Official guidance: IFRS issued standards
Interim frequency must not affect annual measurement, and year-to-date estimates should incorporate all available information including impairment and ECL updates.
Align interim policies with the last annual statements or account for a valid change under IAS 34.43 and IAS 8, restating prior interim periods of the current year.
Official guidance: IFRS issued standards
Avoid smoothing revenue or costs unless anticipation or deferral would also be appropriate at year end. Measure income tax using the estimated weighted average annual effective tax rate applied to year-to-date pre-tax income (IAS 34.30(c)), and update impairment, NRV, and fair value estimates for conditions existing at the interim date. Costs incurred unevenly may be anticipated or deferred only if that treatment would also be appropriate at year end (IAS 34.39).
Complete the interim measurement review required by IAS 34.28-30, including the estimated annual effective tax rate and year-to-date estimate updates.
Official guidance: IFRS issued standards
Correct material prior-period errors retrospectively unless impracticable, and align year-to-date and quarter-only information with IAS 8.
No retrospective correction is required under IAS 8.42; proceed to final disclosure and consistency review of the IAS 34 package.
Official guidance: IFRS issued standards
Bank restatement consultations corrected prior interim comparatives for each remaining 2026 quarter and restated the third balance-sheet column even when IAS 34 alone would not require it.
Restate each affected interim comparative column as IAS 8.42 requires before the interim report is issued.
Official guidance: IFRS issued standards
Presentation-only reclassifications still need clear interim notes when cash equivalents, FVOCI, or other lines move between categories without changing net profit.
Issue the restated interim package with the IAS 8.49 error disclosures aligned to the IAS 34 presentation. Draft the IAS 8.49 restatement note quantifying nature, line-item, and EPS effects for each corrected period before authorization.
Official guidance: IFRS issued standards
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