Consolidation — Comprehensive project


The objective of this project is to develop a single consolidation model applicable to all entities that would be based on the concept of control and improve disclosures of consolidated and unconsolidated entities (replacing both IAS 27 Consolidated and Separate Financial Statements and SIC-12).


Current status of the project

The IASB issued IFRS 10 Consolidated Financial Statements on 12 May 2011.

As a result of feedback received during the project, the IASB agreed to undertake a supplementary project which seeks to exempt eligible investment entities (such as mutual funds, unit trusts, and similar entities) from the requirement to consolidate subsidiaries, instead requiring the use of the fair value to measure those investments.


Project milestones

April 2002 Added to the active agenda
17 September 2008 Public roundtable
18 December 2008 Exposure Draft ED 10 Consolidated Financial Statements published Comment deadline 20 March 2009
First quarter 2009 Roundtables held
January 2010 Added a project on a separate disclosure standard for interests in other entities
29 September 2010 Staff Draft IFRS X Consolidated Financial Statements published
21 April 2011 Near Final Draft of IFRS 10 published
12 May 2011 IFRS 10 Consolidated Financial Statements published
IFRS 12 Disclosure of Interests in Other Entities published
Effective for annual periods beginning on or after 1 January 2013

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.