IAS 34, Interim Financial Reporting, was first issued by the International Accounting Standards Board (IASB) in 1998. Since then, it has undergone several revisions and updates to ensure that it remains relevant and useful to users of financial statements. Here are some key milestones in the evolution of IAS 34:

1. In 2003, the IASB amended IAS 34 to require disclosure of segment information in interim financial statements.
2. In 2007, the IASB revised IAS 34 to require that companies present a statement of changes in equity in their interim financial statements.
3. In 2012, the IASB amended IAS 34 to require that companies disclose the effect of any changes in accounting policies or correction of errors on their interim financial statements.
4. In 2015, the IASB issued amendments to IAS 34 that clarified the disclosure requirements for entities that apply International Financial Reporting Standards (IFRS) for the first time in their interim financial statements.
5. In 2020, the IASB issued amendments to IAS 34 that clarified the disclosure requirements for accounting estimates and judgments used in preparing interim financial statements.

As for potential future developments, the IASB is continuously reviewing and updating its standards, including IAS 34, to ensure that they remain relevant and useful to users of financial statements. In particular, the IASB is currently working on a project to improve the quality of disclosure in financial reporting, including interim financial statements. The project aims to identify ways to enhance the clarity, conciseness, and effectiveness of disclosures in financial statements, including disclosures in interim financial reports.

Overall, the evolution of IAS 34 reflects the IASB's commitment to improving the quality and usefulness of financial reporting, and future developments in this area are likely to focus on enhancing transparency and relevance of interim financial statements.