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IFRS 12 – Disclosure of summarised financial information about material joint ventures and associates

Date recorded:

The Technical Manager informed the Committee that the agenda paper summarised the comments received on the tentative agenda decision. She said that both respondents had agreed with the tentative agenda decision and therefore recommended that the tentative agenda decision should be finalised without amendments.

One Committee member agreed but suggested to combine this with the project on disclosure of information about subsidiaries with material non-controlling interests. When asked by the Chairman, the Director of Implementation Activities said that this would be feasible. A Committee member said that if that would be done, she would like to see a reference in the IFRIC Update that the Committee was supportive of the tentative agenda decision as it might be longer until the combined agenda decision was finalised.

A Committee member said that he would prefer to finalise this tentative agenda decision on its own. The Chairman said that there would be a problem if the agenda decision on subsidiaries would be inconsistent. The Committee member replied that there were no disagreements on the other tentative agenda decision.

The Chairman asked if any Committee member would object to publishing with the provision that the Committee would revisit to ensure that the agenda decisions were consistent. Nobody objected.

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