IFRS 19: Streamlined Reporting Standards for Subsidiaries without Public Accountability
The International Accounting Standards Board (IASB) has introduced a new International Financial Reporting Standard (IFRS) specifically for subsidiaries. The newly issued IFRS 19, titled “Subsidiaries without Public Accountability: Disclosures,” is set to revolutionize the financial reporting landscape by allowing eligible subsidiaries to utilize IFRS Accounting Standards with significantly reduced disclosure requirements. This development aims to...