We have submitted our reply to the proposals on the consolidation exception under Paragraph 9.3 and the related effective date and transition arrangements.
Key points form our reply:
• Supports the proposed consolidation exception, as it aligns with the cost-benefit principle and avoids disproportionate preparation, compliance and audit costs for SMEs, provided that the parent’s financial statements are publicly available.
• Supports aligning the effective date with the Third Edition of the IFRS for SMEs Accounting Standard, avoiding unnecessary disruption and implementation costs.
• Asks the IASB to consider allowing SMEs to early-adopt the specific consolidation exception independently, without requiring early adoption of the entire Third Edition.
Read our full reply here.