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ARTICLE · 11 DECEMBER 2012

On The Horizon For IFRS - November 30, 2012

Grant Thornton LLP
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Recently, the IASB issued Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27), which exempts qualifying investment entities from consolidating particular subsidiaries in accordance with the consolidation provisions in IFRS 10, Consolidated Financial Statements.

United StatesAccounting and Audit
Grant Thornton'S Audit Practice Group
Grant Thornton'S Audit Practice Group
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Investment entities

Introduction

Recently, the IASB issued Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27), which exempts qualifying investment entities from consolidating particular subsidiaries in accordance with the consolidation provisions in IFRS 10, Consolidated Financial Statements. Instead, an entity that meets the definition of an investment entity under the new guidance is required to measure those subsidiaries at fair value through profit or loss, using the guidance either in IFRS 9, Financial Instruments, or in IAS 39, Financial Instruments: Recognition and Measurement, if it has not yet applied IFRS 9. The amendments also establish new disclosure requirements for investment entities in IFRS 12, Disclosure of Interests in Other Entities, and IAS 27, Separate Financial Statements.

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