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Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12 [RFI]

Comments are requested by May 10, 2021

Next steps:

The IASB plans to review the Request for Information Feedback in Q3/2021

Last updated:

February 2021

Overview

The International Accounting Standards Board (Board) conducts a Post-implementation Review (PIR) of each new IFRS Standard or major amendment. A PIR is a mandatory step in the due process for new IFRS Standards or major amendments to IFRS Standards.

IFRS 10 provides a single consolidation model that identifies control as the basis for consolidation for all types of entities. IFRS 11 establishes a principle-based approach for the accounting for joint arrangements, in which the parties recognize their rights and obligations arising from the arrangements. IFRS 12 combines, enhances and replaces the disclosure requirements for subsidiaries, joint arrangements, associates and unconsolidated structured entities. All of three standards were effective from January 1, 2013.

 

Other developments

February 2021

On February 19, 2021, IASB staff updated the Work Plan to indicate that the Board plans to review the Request for Information Feedback in Q3/2021.

December 2020

On December 9, 2020, the IASB issued a request for information (RFI) seeking comments from stakeholders to identify whether IFRS 10, Consolidated Financial Statements, IFRS 11, Joint Arrangements, and IFRS 12, Disclosure of Interests in Other Entities provide information that is useful to users of financial statements; whether there are requirements that are difficult to implement and may prevent the consistent implementation of the standards; and whether unexpected costs have arisen in connection with applying or enforcing the standards. Comments are requested by May 10, 2021.

September 2020

On September 28, 2020, IASB staff updated the Work Plan to indicate that the Board plans to issue a Request for Information in December 2020.

August 2020

On August 28, 2020, IASB staff updated the Work Plan to indicate that the Board plans to issue a Request for Information in Q4 2020.

July 2020

On July 23, 2020, IASB staff updated the Work Plan to indicate that the Board plans to issue a Request for Information in October 2020.

April 2020

On April 23, 2020, the IASB staff updated the work plan to indicate that the Board will issue a Request for Information in Q4/2020.

On April 17, 2020, IASB staff updated the Work Plan to indicate that the Board plans to review its research in Q4/2020.

March 2020

On March 21, 2020, the IASB staff updated the work plan to indicate that the IASB plans to review its research in April 2020.  

February 2020

On February 28, 2020, the IASB staff updated the work plan to indicate that the IASB plans to review its research in March 2020.  

December 2019

On December 13, 2019, the IASB staff updated the Work Plan to indicate that the IASB plans to review its research in February2020. 

November 2019

On November 25, 2019, the IASB staff updated the Work Plan to indicate that the Board plans to review its research (no date specified yet). 

October 2019

On October 1, 2019, the IASB® staff updated the work plan to indicate that the Board expects to review its research in Q1/2020.

 

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