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UKEB outreach event on Subsidiaries without Public Accountability

  • UK Endorsement Board (UKEB) Image

05 Nov 2021

The UK Endorsement Board (UKEB) Invites stakeholders to a series of outreach activities on the IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures (ED).

The ED seeks to develop an accounting standard that would permit eligible subsidiaries to apply reduced disclosure requirements as long as the subsidiary applies the recognition, measurement and presentation requirements in IFRS Standards.

The UKEB secretariat seeks input and feedback from UK stakeholders as it develops its response to the IASB’s Exposure Draft ED/20212/7 Subsidiaries Without Public Accountability: Disclosures. For this purpose, UKEB invites stakeholders to attend two upcoming roundtables on 24 November and 26 November 2021.

UKEB secretariat has published a video exploring the IASB Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures (ED).The video provides an overview of the proposals in the ED, giving an insight into the IASB thinking behind these proposals and highlighting the UKEB timeline and forthcoming UKEB outreach events. A link to the video and more information on the UKEB work on this project can be found on the UKEB website.

UKEB secretariat also published its survey on this ED. Stakeholder responses to the UKEB survey will be used as evidence for the UKEB’s comment letter to the IASB. It takes around 20 minutes to complete. We would particularly welcome input from preparers of subsidiary financial statements. The survey is open until COB 31 January 2022. The survey can be accessed here.

Further details and information on how to register for the event are available on the FRC website.

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