The ASC has issued SFRS(I) 19 and FRS 119 Subsidiaries without Public Accountability: Disclosures.
What changes
Eligible subsidiaries can apply the recognition and measurement rules of the full standards but with reduced disclosure requirements. A subsidiary is eligible if it has no public accountability and its parent prepares consolidated financial statements available for public use.
Effective date
Annual reporting periods beginning on or after 1 January 2027. Adoption is optional.