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In July 2024, the International Accounting Standards Board (IASB) published its Exposure Draft Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures. The Exposure Draft covers disclosure requirements issued between 28 February 2021 and 1 May 2024 that are included in IFRS 19 without reduction. The IASB proposes to reduce these disclosure requirements so that the Standard will only include disclosure requirements that reflect its principles for reducing disclosure requirements. The IASB is also asking stakeholders whether it should reduce the disclosure requirements from the prospective IFRS Accounting Standard Regulatory Assets and Regulatory Liabilities.

IASB® Update April 2024

The IASB met on 25 April 2024 to discuss the catch-up exposure draft it plans to publish after issuing IFRS 19 Subsidiaries without Public Accountability: Disclosures in May 2024. 

Effective date and transition (Agenda Paper 32A)

The IASB discussed the effective date and transition requirements of the proposed amendments to IFRS 19.

The IASB tentatively decided:

  1. to require an eligible subsidiary to apply the proposed amendments to IFRS 19 on 1 January 2027, the same effective date as the Standard itself; and
  2. to permit an eligible subsidiary to adopt the proposed amendments to IFRS 19 earlier than that date.

All 14 IASB members agreed with these decisions.

Due process (Agenda Paper 32B)

The IASB set a 120-day comment period for the catch-up exposure draft.

All 14 IASB members agreed with this decision.

All 14 IASB members confirmed they were satisfied the IASB has complied with the applicable due process requirements and has undertaken sufficient consultation and analysis to begin the process for balloting the catch-up exposure draft.

No IASB member indicated an intention to dissent from issuing the catch-up exposure draft.

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Exposure Draft Feedback