The Accounting Standards Board (AcSB) is monitoring the International Accounting Standards Board’s (IASB) project, Updating the Subsidiaries without Public Accountability: Disclosures Standard.
In developing the reduced disclosure requirements in the new IFRS Accounting Standard Subsidiaries without Public Accountability: Disclosures, the IASB considered the disclosure requirements in other IFRS Accounting Standards as of 28 February 2021. When the new Standard is issued, it will not contain reduced versions of any disclosure requirements that were added or amended after that date. Consequently, the IASB will consult by publishing an exposure draft setting out whether and how to reduce these post-28 February 2021 additions and amendments to disclosure requirements in the new Standard.
Refer to the IASB’s Updating the Subsidiaries without Public Accountability: Disclosures Standard project page for more information.