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Clarification of the scope of the disclosure requirements in IFRS 12 Disclosure of Interests in Other Entities - IASB

Date recorded:

At its meeting on July 20, 22 and 23, 2015, the IASB discussed whether the disclosure requirements in IFRS 12, other than those in paragraphs B10-B16, should apply to interests that are classified as held for sale or discontinued operations in accordance with IFRS 5. And they observed that the objective of IFRS 12 would apply to an entity's interests in other entities regardless of their classification as held for sale or discontinued operations.

The IASB also decided: (i) to include this amendment in the Exposure Draft Annual Improvements to IFRS 2014-2016 Cycle; and (ii) that the proposed amendment should be applied retrospectively.

The IASB instructed to commence the balloting process for the Exposure Draft and expects to issue an Exposure Draft on Annual Improvements to IFRS 2014-2016 Cycle in Q4 of 2015.

Review the IASB Update.

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