Upcoming Changes in Profit & Loss Presentation under IFRS: What Auditors Need to Know
Financial statements aren’t just numbers, they tell a story. And soon, that story will be clearer and more comparable, thanks to upcoming IFRS changes.
From January 2027, the Profit & Loss Statement will follow a new global format.
Key updates include:
● Clear disclosure of adjusted profit
● Detailed income & expense breakdown
● Greater responsibility on management
Auditors will need to ask deeper questions, not just about figures, but about the decisions behind them. Now’s the time to update systems, train teams, and test how reports will look.
These changes bring more structure, increase accountability, and shift focus beyond numbers, to narrative, metrics, and performance context.
It’s more than a format update, it’s a new way of explaining business performance.
Profit will still be profit. But how you present it? That’s about to change.
