9. December 2020
The IASB today published a Request for Information (RFI) on the IFRS Standards for group accounting—IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities (further infomation).
The RFI is part of the Post-implementation Review (PIR) of these Standards and seeks feedback on applying the Standards and on the information provided to users of financial statements. The IASB will use the feedback on the RFI to determine whether any further action is required.
PIRs are carried out to assess the effects of a new Standard after companies have applied the requirements for some time.
IFRS 10 sets out requirements for the preparation of group-consolidated-financial statements; IFRS 11 addresses how to account for interests in joint arrangements; and IFRS 12 sets out the information to be disclosed in the notes to the financial statements about interests in other companies.
The deadline for comments is 10 May 2021.