IAS 1: Presentation of Financial Statements
Overall requirements for the presentation of financial statements, structure, and minimum content.
Why IAS 1 matters
IAS 1 is the disclosure backbone. Going-concern disclosure (paragraphs 25–26) and significant accounting policy disclosure are both anchored here.
Framework: International Accounting Standards (IAS)
IAS were issued by the IASC before being superseded by the IASB. Many IAS remain in force and are part of IFRS as adopted in Canada.
Primary source: IFRS Foundation
Frequently asked
What is IAS 1?
Overall requirements for the presentation of financial statements, structure, and minimum content.
Why does IAS 1 matter for an audit?
IAS 1 is the disclosure backbone. Going-concern disclosure (paragraphs 25–26) and significant accounting policy disclosure are both anchored here.
Which framework does IAS 1 belong to?
IAS 1 falls under International Accounting Standards (IAS). IAS were issued by the IASC before being superseded by the IASB. Many IAS remain in force and are part of IFRS as adopted in Canada.
Related standards — International Accounting Standards (IAS)
See how Auditus checks IAS 1
Auditus.ai runs PCAOB, ISA, and CAS engagements end-to-end and cites the exact standard behind every finding — including IAS 1.