Updating the Subsidiaries without Public Accountability: Disclosures Standard
The IASB published its new standard IFRS 19 Subsidiaries without Public Accountability: Disclosures in May 2024. The application of this new standard will be voluntary for eligible subsidiaries and will permit the use of the recognition, measurement and presentation requirements of IFRS Accounting Standards with reduced disclosure requirements.
The IASB developed IFRS 19 by considering issued IFRS Accounting Standards as at 28 February 2021. For all new or amended standards proposed or issued between this date and the publication date of IFRS 19 standard, the IASB decided that all changes will be dealt in a separate project Updating the Subsidiaries without Public Accountability: Disclosures. The separate project considers amendments to disclosure requirements related to Presentation and Disclosure in Financial Statements, Supplier Finance Arrangements, Lack of Exchangeability etc, including potential reduced disclosures for Rate-regulated Activities. The IASB published its exposure draft on proposed amendments to IFRS 19 on 30 July 2024.
On 24 September 2024, EFRAG published its draft comment letter ('DCL') on the IASB Exposure Draft Amendments to IFRS 19 (the 'ED').
Considering the broad support from constituents for the proposed amendments to IFRS 19, EFRAG published its final comment letter ('FCL') on 28 November 2024. The EFRAG FCL can be found here.
On 26 February 2025, EFRAG issued its Feedback Statement on the IASB ED, summarising constituents’ feedback, including responses to EFRAG’s draft comment letter. It explains how the feedback received was considered by EFRAG in reaching the positions reflected in its final comment letter.
On 26 September 2025, EFRAG issued its draft endorsement advice letter and a separate invitation to comment on the proposed EU adoption of Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures, issued by the IASB on 21 August 2025.
On 18 December 2025, EFRAG submitted its endorsement advice letter on Amendments to IFRS 19 to the European Commission. The endorsement advice assesses that Amendments to IFRS 19 satisfy the criteria for endorsement for use in the EU and therefore recommends their endorsement.