In May this year the International Accounting Standards Board (IASB) issued IFRS 19 Subsidiaries without Public Accountability: Disclosures. The European Financial Reporting Advisory Group (EFRAG) Secretariat has now followed in the footsteps of the SEC and released two updated briefings to provide clarity on the application of IFRS 19 within the EU.
Last week the US Securities and Exchange Commission (SEC) provided a statement on the application of International Financial Reporting Standard (IFRS) 19, Subsidiaries without Public Accountability: Disclosures. The SEC’s guidance comes in response to the recent publication of IFRS 19 by the International Accounting Standards Board (IASB).
Last week the International Accounting Standards Board (IASB) launched IFRS 19, a new accounting standard designed to simplify reporting for subsidiaries without public accountability. This new standard allows eligible subsidiaries to utilise the IFRS framework but with reduced disclosure requirements.
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