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By: Owen Carew
25 Jun 20263 min read
INTRODUCTION
The objective of this Technical Accounting (TA) Alert is to:
This TA Alert incorporates all the relevant pronouncements and developments as at 10 June 2026. Entities should also take into account any new pronouncements issued, or developments taking place, after this date if they are relevant for the financial year and/or half-year ended 30 June 2026.
For a list of all the pronouncements issued by the AASB and the IASB that are not yet effective, refer to our latest TA Alert on this topic on our website.
OVERVIEW
The new and revised Australian accounting requirements that are mandatory for the first time to annual and/or half-year reporting periods ending 30 June 2026 are summarised below:
| Standard / Interpretation | Mandatory effective date (Annual periods beginning on or after…) | Applicable for the first time to year ended 30 June 2026 | Applicable for the first time to half-year ended 30 June 2026 |
|---|---|---|---|
|
AASB 2024-2 Amendments to Australian Accounting Standards – Classification and Measurement of Financial Instruments |
1 January 2026 |
✔ |
|
|
AASB 2024-3 Amendments to Australian Accounting Standards – Annual Improvements Volume 11 |
1 January 2026 |
✔ |
|
|
AASB 2025-1 Amendments to Australian Accounting Standards – Contracts Referencing Nature-dependent Electricity |
1 January 2026 |
✔ |
|
|
AASB 2025-2 Amendments to Australian Accounting Standards – Classification and Measurement of Financial Instruments: Tier 2 Disclosures |
1 January 2026 |
✔ |
|
|
AASB 2025-3 Amendments to Australian Accounting Standards – Contracts Referencing Nature-dependent Electricity: Tier 2 Disclosures |
1 January 2026 |
✔ |
|
|
AASB 2026-1 Amendments to Australian Accounting Standards – Disclosures about Uncertainties in the Financial Statements |
1 July 2025 (period ending on or after 28 February 2026) |
✔ |
✔ |
FURTHER INFORMATION
If you wish to discuss any of the information included in this Technical Accounting Alert, please get in touch with your Grant Thornton Relationship Partner or a member of the National Assurance Quality Team at national.assurance.quality@au.gt.com.
If you wish to discuss any of the information included in this Technical Accounting Alert, please get in touch with your local Grant Thornton Australia contact or a member of the National Assurance Quality Team using the link below.
Accounting standards issued but not yet effective for 30 June 2026
AASB S2025-1 Amendments to Greenhouse Gas Emissions Disclosures, issued by the Australian Accounting Standards Board (AASB) to amend AASB S2 Climate-related Disclosures (AASB S2)
New and revised accounting standards, AASB 108