IASB proposes disclosure requirements for subsidiaries without public accountability

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EY Global CRS
4 Aug 2021 PDF
Subject IFRS technical resources
Categories Other IFRS Presentation of financial statements

The IASB issued an Exposure Draft which proposes to allow subsidiaries without public accountability to elect to apply reduced disclosure requirements while still applying the recognition, measurement and presentation requirements in IFRS Standards.

Exposure Draft ED/2021/7, Subsidiaries without Public Accountability: Disclosures proposes that eligible entities that elect to apply the reduced disclosure requirements would still be required to apply the recognition, measurement and presentation requirements of IFRS Standards. An entity may revoke its election at any time, and it may elect to apply the proposals more than once.

The comment period for the ED ends on 31 January 2022.

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