PKF Al Bassam Chartered Accountants has published a technical insight summarizing the key presentation and disclosure changes introduced by IFRS 18 – Presentation and Disclosure in Financial Statements, together with selected considerations arising from the SOCPA endorsement applicable in the Kingdom of Saudi Arabia.

The publication provides a concise overview of:

• Key differences between IAS 1 and IFRS 18
• Management-defined Performance Measures (MPMs)
• Practical implementation considerations
• SOCPA-specific endorsement requirements
• CMA-related developments affecting listed entities
• High-level implementation roadmap
• Organizational readiness considerations

IFRS 18 introduces significant changes to the structure and presentation of the statement of profit or loss, mandatory subtotals, aggregation and disaggregation principles, and enhanced disclosure requirements. These changes may require entities to assess the impact on financial reporting processes, chart of accounts, performance measures, and related disclosures before the mandatory effective date.

This publication has been prepared for general informational purposes only and is intended to support awareness of the forthcoming reporting requirements. It does not constitute accounting, audit, assurance, or legal advice, nor should it be relied upon as a substitute for professional judgment in the context of specific facts and circumstances.

We invite readers to download the publication to gain a practical overview of IFRS 18 and the related Saudi-specific considerations.