IFRS 8 — Scope of IFRS 8

Date recorded:

The IFRIC discussed a potential clarification of the applicability of IFRS 8 Operating Segments to entities that issue debt and equity instruments to the public, but those instruments are not traded on a 'public market'.

In a brief discussion, most of the IFRIC members agreed that the current IFRS 8 scope requirements are clear and well understood and thus there is a limited diversity in practice. Moreover, they agreed that the potential widening of the applicability of IFRS 8 to entities with public accountability is outside of scope of Annual Improvement process and should be addressed by the Board as part of the post-implementation review of IFRS 8. This reasoning was supported also by the Basis for Conclusions of the IFRS 8, which suggests that the Board planned reconsideration of applicability of IFRS 8 to other entities when the SME Standard is finalised.

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