IASB publishes draft amendments to IFRS 19

On 30 July 2024, the International Accounting Standards Board (IASB) published an exposure draft on amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures (ED/2024/5).

The optional application of IFRS 19, which was published in May 2024, substantially reduces the scope of disclosures in the notes compared to the other IFRS standards (we reported on the publication of IFRS 19 in Express Accounting News 21/2024).

For requirements resulting from new or amended IFRS standards published between 28 February 2021 and 1 May 2024, the published IFRS 19 does not provide for reduced disclosures. The proposals in ED/2024/5 are therefore aimed at reducing and simplifying the following new or amended standards:

• IFRS 18 Presentation and Disclosures in Financial Statements
• Amendments to IAS 1 – Classification of Liabilities with Constraints
• Amendments to IAS 7 and IFRS 7 – Supplier Financing Arrangements
• Amendments to IAS 12 – International Tax Reform – Pillar 2 modelling rules
• Amendments to IAS 21 – Lack of Exchangeability

The deadline for submitting comments is 27 November 2024.

You can download the draft here.