ASB: ED 216 – Improvements to the Standards of GRAP 2026

ASB: ED 216 – Improvements to the Standards of GRAP 2026

• 12 November 2025
• Accounting
• South African Accounting Academy

Summary:

The Accounting Standards Board (ASB) has approved and issued Exposure Draft (ED) 216 on Improvements to the Standards of GRAP 2026.

Article:

The consultation with stakeholders on the proposed 2026 improvements to the Standards of GRAP, ED 216, proposes narrow scope amendments to the Standards of GRAP to enhance clarity, consistency and alignment with international standards.

Improvements are proposed for the following standards:

• GRAP 1 – Presentation of Financial Statements  
• GRAP 3 – Accounting policies, Changes in Accounting Estimates and Errors  
• GRAP 4 – The Effects of Changes in Foreign Exchange Rates 
• GRAP 17 – Property, Plant and Equipment 
• GRAP 18 – Segment Reporting 
• GRAP 19 – Provisions, contingent liabilities and contingent assets  
• GRAP 20 – Related Party Disclosures 
• GRAP 35 – Consolidated Financial Statement

Deadline for comments is 9 January 2026.

Access the following related material at https://www.asb.co.za/ed-216/ 

• ED 216 - Attachment A - Matters considered in the development of the Exposure Draft
• Executive summary on ED 216
• Presentation on ED 216

Click here to download the 53-page Exposure Draft:

https://www.asb.co.za/wp-content/uploads/2023/08/ED-216-Proposed-Improvements-to-Standards-of-GRAP-2026.pdf 

Relevance to Auditors, Independent Reviewers & Accountants:

• You need to assess fair presentation and compliance with the Standards of GRAP.   
• Non-compliance with GRAP standards may lead to a modified audit opinion.
• You should be aware of the latest publications issued by the relevant board, e.g. ASB.
• The exposure draft seeks comment on the proposal to amend various Standards of GRAP.

Relevance to Your clients:

• Relevant entities should be aware of the latest publications issued by the standards board, e.g. ASB.
• This exposure draft seeks comment on the proposal to amend various Standards of GRAP.

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