Need to know — IASB introduces reduced disclosure framework for subsidiaries
Published on:
23 May, 2024
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This Need to know outlines IFRS 19 Subsidiaries without Public Accountability: Disclosures published by the International Accounting Standards Board (IASB) on 9 May 2024. IFRS 19 permits an eligible subsidiary to provide reduced disclosures when applying IFRS Accounting Standards in its financial statements. Given UK qualifying subsidiaries can already apply FRS 101 Reduced Disclosure Framework, it is unclear at the time of writing whether and, if so, to which extent IFRS 19 will be endorsed for use by UK companies.
