Get ready for IFRS 19: Simplified financial reporting for eligible subsidiaries

IFRS 19 ‘Subsidiaries without Public Accountability: Disclosures’ (the Standard) creates a reduced set of disclosures that certain in-scope entities can elect to apply instead of the disclosure requirements set out in other IFRS Accounting Standards.

This article discusses the implementation of the disclosure requirements for subsidiaries that meet the criteria to be classified as Subsidiaries without Public Accountability. In this article we also summarise the practical applications of IFRS 19, with an illustrative analysis of the disclosures of five Standards which indicate which disclosures are still required and which are not included in IFRS 19.