As part of its due process, the International Accounting Standards Board (the Board) is undertaking a post-implementation review (PIR) of its consolidation suite of standards – IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities.
To understand where challenges with applying these standards are arising in practice, the Board is now seeking:
- feedback on specific issues that it has identified; and
- comments on other issues that arise in practice.
The consolidation suite of standards has largely been successful in developing a single, consistent basis for consolidation and joint arrangement accounting that has reduced diversity in practice. However, eight years on, issues continue to emerge that could benefit from the Board’s attention. Now is your chance to highlight these to the Board and voice any further concerns.
What issues has the Board identified?
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