Jordan Securities Commission holds Specialized Workshop on IFRS 18 in Cooperation with Ernst & Young Jordan

The Jordan Securities Commission (JSC), in cooperation with Ernst & Young (EY) Jordan, held a specialized workshop at its headquarters on Sunday, 12 July 2026, aimed at enhancing awareness of the latest developments in financial reporting, with a particular focus on IFRS 18 – Presentation and Disclosure in Financial Statements and the related amendments issued by the International Accounting Standards Board (IASB).
In his opening remarks, the Chairman of the Jordan Securities Commission, His Excellency Mr. Emad Abu Haltam, announced that the JSC had issued a circular requiring company under its supervision to prepare and submit an IFRS 18 readiness assessment plan no later than 30 November 2026.
He noted that this requirement reflects the Commission’s commitment to promoting the effective implementation of international standards and supporting proactive compliance. As IFRS 18 becomes mandatory for annual reporting periods beginning on or after 1 January 2027, while permitting early application, companies have an appropriate opportunity to assess their readiness, review their accounting systems and policies, and complete the necessary preparations ahead of implementation.
Mr. Abu Haltam further explained that the submission deadline of 30 November 2026 has been set to provide companies with sufficient time to transition from the planning phase to implementation and ensure full readiness before the Standard becomes effective. He emphasized that improving the quality of financial reporting is a shared responsibility requiring close cooperation among regulators, companies, auditors, and professional bodies. The ultimate objective, he noted, extends beyond compliance with accounting standards to delivering high-quality financial information that enhances investor confidence and supports the continued development and efficiency of Jordan’s capital market.
For his part, Mr. Raed Al-Ahmad, Associate Partner at Ernst & Young, responsible for Jordan, Palestine, and Iraq, emphasized EY’s commitment to supporting the Jordan Securities Commission through knowledge-sharing initiatives that strengthen financial reporting practices and build technical capacity among finance and accounting professionals. He noted that enhancing awareness of the latest IFRS Accounting Standards contributes to improving the quality, consistency, and transparency of financial reporting, ultimately supporting informed decision-making and reinforcing confidence in Jordan’s business and investment environment.
The workshop was organized in response to an initiative proposed by EY Jordan to the JSC to deliver specialized training aimed at raising awareness of IFRS 18 among accounting and finance professionals from entities under the Commission’s supervision. The technical sessions were delivered by Mr. Omar Halloum and Mr. Hisham Jarar from EY’s Financial Accounting Advisory Services (FAAS) practice.
The workshop focused on two principal themes: the key amendments to IFRS Accounting Standards becoming effective during 2026 and 2027, and the main requirements of IFRS 18. Discussions covered developments relating to financial instruments, including classification, measurement, and derecognition requirements, updates on electronic payment arrangements, contract-related financial instruments, additional guidance on the Solely Payments of Principal and Interest (SPPI) assessment, as well as the replacement of IAS 1 – Presentation of Financial Statements by IFRS 18. Participants were also introduced to the Standard’s new structure for the statement of profit or loss, enhanced disclosure requirements for management-defined performance measures, and other presentation and disclosure requirements designed to improve the comparability and transparency of financial statements.