EFRAG has published a Briefing on the IASB ED/2021/7 Subsidiaries without Public Accountability: Disclosures

The EFRAG Secretariat has issued a Briefing to stimulate debate within Europe and clarify the IASB’s discussions on the ED/2021/7 Subsidiaries without Public Accountability: Disclosures (further information). More specifically, the Briefing provides an EU Perspective on the IASB’s proposed scope.

On 26 July 2021, the IASB published the Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures with the objective of developing a reduced-disclosure IFRS Standard that would apply on a voluntary basis to eligible subsidiaries without public accountability (we reported). The IASB ED is open for comment until 31 January 2022.

To help constituents understand the ED and participate in the discussion, the EFRAG Secretariat has considered how the IASB’s proposals might be applied in the EU. More specifically, the EFRAG Secretariat provides an EU Perspective on the IASB’s proposed scope for subsidiaries without public accountability.

The Briefing is available here.

Further, EFRAG has launched an online survey to seek input of preparers of financial statements (parents and/or subsidiaries) on the costs and benefits and some of the content of the IASB proposals. The survey can be completed until 7 January 2022 (further information).