The objective of this amendment is to allow the subsidiaries of certain entities relief from consolidation, equity accounting of associations, and proportionate consolidation of joint venture operations. Relief would be made available where their parent or ultimate parent complies with the relevant exemption criteria even though the parent or ultimate parent does not produce IFRS compliant consolidated financial statements because it has adopted Australian Accounting Standards – Reduced Disclosure Requirements (being a non-IFRS reporting framework) or is a not-for-profit entity.


Contact

Rob Mackay
T +61 3 8635 1800
rmackay@moorestephens.com.au

www.moorestephens.com.au