IFRS Interim Financial Statements

Interim financial statements are not required specifically under IFRS. However, many funds are required for regulatory purposes to prepare and file interim, half-yearly financial statements. In addition, some funds may voluntarily prepare interim financial statements. If a fund does prepare interims under IFRS, then they must comply with IFRS requirements.

A set of interim financial statements is a set of financial statements for a period shorter than one year. In some cases, condensed financial statements will be prepared, and in some cases complete financial statements will be prepared. Typically a fund will prepare interims for the first six months of the year. The statements will usually be presented in a condensed or abbreviated format, so they will not include all of the information and disclosures that are presented in a full annual set of financial statements. In any case, the financial statements must comply with all regulatory requirements, and with any specific IFRS requirements in relation to interim financial statements. If the interims are unaudited, this should be clearly stated. This is usually included in all of the page headings and descriptions.


At a minimum, the interim financial statements should include:

If a full, rather than a condensed set of interim financial statements is prepared, then they must comply with all IFRS requirements.

If a set of condensed financial statements is prepared, they must include, at a minimum:

If a condensed set of interims is prepared, most funds prepare the main statements in a similar format to the annual financial statements in order to meet the requirements. In a condensed set of interims, the notes will typically be shorter.

The interim financial statements should also include:

Segmental reporting and Earnings per Share disclosures should be included in the interim financial statements if the fund is required to make these disclosures in their annual financial statements. This will usually be the case if the fund’s shares are traded, rather than just listed for information purposes, on a stock exchange.


The requirements for comparative information included in interim financial statements are slightly different to the requirements for annual financial statements. The statement of comprehensive income, statement of changes in net assets, and statement of cashflows for the equivalent prior period should be included. However, the statement of financial position for the end of the immediately preceding financial year should be included.

Key Points

Quick Questions

  1. The interim financial statements for a fund are for the six months ended 30th June 2016. All comparatives should be for the six months ended 30th June 2015. True or False?
  2. Is Earnings Per Share a required disclosure in interim financial statements?

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