TECHNICAL ROUND UP – IASB LAUNCHES NEW ACCOUNTING STANDARDS FOR SUBSIDIARIES
July 1st, 2021
The International Accounting Standards Board (IASB) has proposed a new standard allowing eligible subsidiaries to reduce their disclosures and still comply with IFRS. The new rules could apply to subsidiaries not themselves listed on a stock exchange and which are not financial institutions. Parent companies would still follow full IFRS when reporting consolidated accounts which would cover their subsidiaries. So, the new rules would save time and money by eliminating additional sets of accounting records and making duplicate filings. ...
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