Skip to content (Press enter)
Show Sections

Current stage

In July 2021, the International Accounting Standards Board (IASB) published the Exposure Draft Subsidiaries without Public Accountability: Disclosures. The Exposure Draft sets out the IASB's proposals for a new IFRS Accounting Standard that would permit eligible subsidiaries to apply IFRS Accounting Standards with reduced disclosure requirements in their financial statements.

The deadline for submitting comments on the Exposure Draft is 31 January 2022. The IASB will consider feedback on the Exposure Draft in developing the IFRS Accounting Standard.

IASB® Update June 2022

The IASB met on 22 June 2022 to decide on the direction of its Disclosure Initiative—Subsidiaries without Public Accountability: Disclosures project.

The IASB decided to proceed with its proposal for a new IFRS Accounting Standard as set out in the Exposure Draft Subsidiaries without Public Accountability: Disclosures and agreed on a project plan for developing the new Accounting Standard.

All 10 IASB members agreed with these decisions.

The IASB also tentatively decided:

  1. to include in the new IFRS Accounting Standard disclosure requirements of IFRS Accounting Standards issued as at 28 February 2021; and
  2. to consider amendments to the disclosure requirements in IFRS Accounting Standards issued after 28 February 2021 after the new Standard is issued.

All 10 IASB members agreed with these decisions.

Next milestone

IFRS Accounting Standard