The member firms of Grant Thornton International Ltd (GTI) have extensive expertise in the application of IFRS Accounting Standards. GTI, through its IFRS and corporate reporting team, develops general guidance that supports its member firms’ commitment to high quality, consistent application of IFRS Accounting Standards and is therefore pleased to share its insights by publishing ‘IFRS Example Consolidated Financial Statements 2026’ (Example Financial Statements).
These Example Financial Statements are based on the activities and results of Illustrative Corporation and its subsidiaries (the Group or the Illustrative Corporation Group)– a fictional consulting, service and retail entity that has been preparing IFRS Accounting Standards consolidated financial statements for several years. The form and content of IFRS financial statements will always depend on the activities and transactions of the reporting entity. Our objective in preparing these Example Financial Statements is to illustrate financial reporting by an entity engaging in transactions that are typical across a range of non-specialist sectors.
However, as with any publication of this type, these Example Financial Statements cannot envisage every possible transaction and therefore cannot be regarded as comprehensive. Management, as defined by the IASB, is ultimately responsible for the fair presentation of financial statements and therefore they may find other approaches more appropriate for the entity’s specific circumstances. These Example Financial Statements have been updated to reflect changes in IFRS Accounting Standards that are effective for the year ending 31 December 2026. No account has been taken of any new developments after 30 September 2026.
