ICAEW experts predict significant updates in accounting standards, sustainability reporting, and corporate governance for 2026, urging businesses to prepare now. Key developments include amendments to FRS 102 requiring most leases on balance sheets for better transparency, retrospective application of IFRS 18 affecting 2026 comparatives, and expected finalisation of the first two UK Sustainability Reporting Standards (UK SRS) for voluntary adoption. A major UK government consultation on modernising corporate reporting will review annual reports, remuneration, governance, and digitisation holistically. Progress on audit reform and Provision 29—mandating board attestations on internal controls—remains on track despite economic headwinds. These UK-focused changes signal a push for enhanced transparency and assurance, which UAE firms with international ties or dual listings should monitor for alignment opportunities.
What this means:
UAE business owners should review lease accounting and sustainability disclosures early in 2026 to stay compliant with global standards, potentially gaining investor trust and efficiency gains through proactive preparation.