Finanstilsynet proposes IFRS 18 presentation choice for simplified IFRS

Finanstilsynet has put forward amendments to the regulation on simplified application of international accounting standards (forskrift om forenklet anvendelse av internasjonale regnskapsstandarder, the forenklet IFRS regulation)Finanstilsynet. The proposal has two main limbs: a choice of presentation framework and revised accounting for group contributions with their tax effects. The Revisorforeningen summary of the proposal and Finanstilsynet's own hearing notice describe the same package: entities that report under forenklet IFRS would be allowed to use the presentation formats (oppstillingsplaner) in IFRS 18 Presentasjon og opplysninger i finansregnskap instead of the formats in chapter 6 of the regnskapslovenRevisorforeningen, while the regulation's references to IFRS standards are updated to reflect that IFRS 18 replaces IAS 1 Presentasjon av finansregnskap.

The choice of framework is binary at the level of the presentation. An entity that stays with the Accounting Act keeps the chapter 6 formats.Revisorforeningen An entity that elects IFRS 18 must apply that standard in its entirety, including its requirements for presentation, classification, aggregation and disaggregation as well as the note disclosures that follow directly from the standard.Revisorforeningen The note disclosure requirements in chapter 7 of the regnskapsloven continue to apply alongside.Revisorforeningen Where the two note regimes point in different directions, Finanstilsynet takes the view that the chapter 7 requirements prevailRevisorforeningen; genuine conflict is expected to arise rarely, so the requirements are as a rule to be read cumulatively. Finanstilsynet states that it does not plan to regulate the conflict point itself, but it asks respondents for their assessment of whether a regulation provision is needed for cases of conflict.

The second limb concerns konsernbidrag and the associated tax effects. Under the proposal, an entity may elect for both the accounting for group contributions and the related tax to follow the regnskapsloven and god regnskapsskikk.Revisorforeningen The election must cover the combined accounting treatment of the transaction as a whole, so the contribution and its tax consequence cannot be split between frameworks.Revisorforeningen

The amendments presuppose that the proposed changes to the regnskapsloven are adopted; without that legislative step the package cannot take effect as drafted.Revisorforeningen If adopted, Finanstilsynet proposes that the changes apply to financial years beginning 1 January 2027 or laterRevisorforeningen, with the possibility of earlier application for entities that wish to move sooner.

Respondents should direct any comments on the hearing note to Finanstilsynet by 30 November 2026. Submissions are to be marked 26/11704 and sent to post@finanstilsynet.no, and they are public under the offentleglova. Preparers, auditors and advisers with clients reporting under forenklet IFRS should decide now whether to argue for or against the IFRS 18 presentation choice, assess what full-standard compliance would cost them given that chapter 7 still applies, and review open konsernbidrag structures against the proposed combined-treatment election before the deadline.

Legal basis: the proposed amendments to forskrift om forenklet anvendelse av internasjonale regnskapsstandarder, IFRS 18 Presentasjon og opplysninger i finansregnskap, IAS 1 Presentasjon av finansregnskap, and regnskapsloven chapters 6 and 7.