ASCG to host outreach event on the IASB Exposure Draft ED/2021/7

The ASCG invites all interested parties to a public outreach event. The topic of the event will be the IASB’s Exposure Draft ED/2021/7 Subsidiaries without Public Accountability: Disclosures.

We would like to use the event to discuss with the IASB’s proposals published in the Exposure Draft. In particular, we would like to discuss with you the scope proposed by the IASB and the relevance of IASB ED/2021/7 against the background of the implementation of the IAS Regulation in German commercial law.

The event will be held on Wednesday, 12^th January 2022 from 16.00-17.30 in German and – due to COVID-19-related restrictions – web-based.

Participation is free of charge. For logistical reasons, we kindly ask you to register your interest by sending an email to bahrmann@drsc.de before 10^th January 2022.

The proposed new IFRS aims to reduce costs for subsidiaries without public accountability by proposing reduced disclosure requirements for the separate or consolidated (subgroup) financial statements of these subsidiaries. The proposed new IFRS would apply (optionally) to subsidiaries that do not have public accountability. However, the scope of the proposed new IFRS Standard is limited to subsidiaries that have an ultimate or intermediate parent that produces consolidated financial statements available to the public use that comply with IFRS Standards.

The IASB ED is available on the IASB’s website. Further information on the IASB’s Exposure Draft can be found on our website.