Register / AASB 2026-4 Amendments to Australian Accounting Standards / AASB 2026-4 paragraph 26
The commencement ladder has three dates
Paragraph 26 commences on 31 December 2026. The application paragraphs and the AASB 1039 and AASB 1054 amendments commence on 31 December 2026 for for-profit entities, other than a superannuation entity that applies AASB 1056. They commence on 31 December 2027 for not-for-profit entities and for superannuation entities that apply AASB 1056. Every other paragraph commences on 31 December 2027.
Why the paragraph exists
The commencement dates are legal dates. They are not the same as the first annual period to which the amendments apply, which is set by paragraph 3 and AASB 18 paragraph AusC1.1.
In practice
Write the commencement date and the first affected period in the same row of the plan. The paragraph 26 date is a legal date; the paragraph 3 date is the period test.
For a for-profit entity in the group, check whether the narrow AASB 1039 and AASB 1054 track applies a year earlier.
The mistake to avoid
The common mistake is to quote 31 December 2027 as the date the first statements change.
Who it binds
Every entity within the application of the instrument, and the instrument itself.
What to do before the date
- Confirm the entity falls in this group: For-profit entity, NFP private sector, NFP public sector, NFP higher education provider, Superannuation entity and Government (AASB 1049).
- Put the requirement into the financial statements preparation plan: the commencement ladder has three dates.
- Open a workpaper for the first evidence item: The implementation plan that states both the commencement date and the first affected reporting period for each entity group.
Evidence an auditor will ask for
Dates
| Date | What it means | Applies to |
|---|---|---|
| 2026-12-31 | Paragraph 26 commences for every entity | All in-scope entities |
| 2026-12-31 | The AASB 1039 and AASB 1054 amendments commence for for-profit entities | for-profit |
| 2027-12-31 | Not-for-profit and superannuation amendments commence | NFP entities and superannuation |
| 2027-12-31 | All other paragraphs commence | All in-scope entities |
Commencement and application are separate tests.
Cross-references
- AASB 2026-4 paragraphs 2 and 3
- AASB 18 paragraph AusC1.1
Record note
The key date for a not-for-profit or superannuation entity is 31 December 2027 for commencement and 1 January 2028 for the first annual period.
Questions
What does AASB 2026-4 paragraph 26 require in practice?
Write the commencement date and the first affected period in the same row of the plan. The paragraph 26 date is a legal date; the paragraph 3 date is the period test.
What is the common mistake under AASB 2026-4 paragraph 26?
The common mistake is to quote 31 December 2027 as the date the first statements change.
What evidence should be kept?
At least: The implementation plan that states both the commencement date and the first affected reporting period for each entity group. The kit carries each one as a row with an owner column to complete.
Source
This page is our statement of the paragraph, cited so you can check it. Read F2026L01162 on legislation.gov.au.
Source pointer: AASB 2026-4 paragraph 26. Record retrieved 2026-10-20.