IASB Issues Amendments to IFRS 19 Disclosure Requirements

Posted 28 August 2025 Written by Acts Online
Category Financial and Accounting

Brought to you by SA Accounting Academy: The International Accounting Standards Board (IASB) has released amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures to align the standard with recent updates to the broader IFRS framework.

In terms of the International Accounting Standards Board (IASB) framework, the Board has issued Amendments to IFRS 19 to provide reduced disclosure requirements for new and amended IFRS Accounting Standards issued between February 2021 and May 2024. IFRS 19, which was originally issued in May 2024, permits eligible subsidiaries to apply IFRS Accounting Standards with a significantly reduced set of disclosure requirements, provided they do not have public accountability.

The initial version of IFRS 19 included reduced disclosure requirements for other Standards or amendments issued up to February 2021. These newly issued amendments ensure that the standard reflects changes to IFRS Accounting Standards that take effect up to 1 January 2027, which is the date IFRS 19 becomes applicable. The IASB has indicated that in the future, IFRS 19 will be amended concurrently with the issuance or revision of other IFRS Accounting Standards.

Key aspects of the amendments include:

  • Updating disclosure requirements for Standards issued between February 2021 and May 2024.
  • Ensuring consistency with the IFRS framework effective as of 1 January 2027.
  • Establishing a maintenance cycle where IFRS 19 is updated alongside other standard revisions.

Click here to download the Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures.

What this means for you, your business, or your clients

  • For yourself: No direct individual obligations; impact is channelled through the requirement to maintain technical proficiency in the updated disclosure requirements for eligible subsidiary reporting.
  • For your business: Accounting firms and internal finance departments must update their financial reporting templates and disclosure checklists to incorporate the reduced requirements for eligible subsidiaries ahead of the 1 January 2027 application date.
  • For your clients: Eligible subsidiary clients can benefit from a reduced volume of financial statement disclosures, potentially lowering the administrative burden and costs associated with preparing IFRS-compliant financial statements.

Originally published at https://accountingacademy.co.za/news/read/iasb-amendments-to-ifrs-19-subsidiaries-without-public-accountability-disclosures

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