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IFRS 8/IAS 34 — Consistency in disclosure of total segment assets

Date recorded:

The IFRIC discussed the potential conflict between IFRS 8 Operating Segments and IAS 34 Interim Financial Reporting. Some constituents read the IAS 34 requirement to provide a measure of segment assets in interim financial statements even if that amount was not provided to the chief operating decision maker.

The IFRIC members disagreed with this interpretation of IAS 34 requirements and noted that IAS 34 should be an update on a set of annual financial statements. They argued that when no measure of total assets is provided in the annual financial statement, interim financial statements need not provide an update. Nonetheless, the IFRIC agreed that wording of IAS 34 could be clarified in that respect. In addition, the IFRIC agreed to clarify the IAS 34 requirements to require an update of total assets in the interim financial statements only for those segments for which the measure of total asset change since the annual financial statements were published (and not all segments).

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