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The Institute of Chartered Accountants of India has issued an Exposure Draft that sets out the proposal of the IASB for a new IFRS Standard - Subsidiaries without Public Accountability: Disclosures. Comments on the ED may be sent electronically or via email or post by 15th December 2021. Read the official announcement below: Accounting Standards Board The Institute of Chartered Accountants of India 9th August, 2021 Subsidiaries without Public Accountability: Disclosures Indian Account
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FAQ :
The ICAI has issued an Exposure Draft proposing a new IFRS Standard from the IASB concerning disclosures for subsidiaries without public accountability.
The proposed Standard would permit a subsidiary without public accountability to apply reduced disclosure requirements in its financial statements, if its parent's consolidated financial statements are publicly available and comply with IFRS Standards.
All stakeholders in India are invited to submit comments on the Exposure Draft.
Comments on the Exposure Draft must be submitted by 15th December 2021.
Comments can be submitted electronically via the ICAI website, by email to commentsasb@icai.in, or by post to the Secretary, Accounting Standards Board, ICAI.
The Exposure Draft is hosted on the ICAI website and can be accessed via the provided link: https://resource.cdn.icai.org/65993asb53228.pdf
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