De effectieve datum van IFRS 10 is 1 januari 2013. The purpose of this paper is to review the empirical research literature dealing with International Financial Reporting Standards (IFRS) and auditing. IFRS 9 provides accounting guidance on how companies should value financial instruments. This paper reviews the literature on the effects of International Financial Reporting Standards (IFRS) adoption. In addition, IFRS 10 provides an exemption from consolidation for an entity that meets the definition of an “investment entity” (such as certain investment or mutual funds). Appropriate supporting working papers should be prepared to support the restated accounts. Intended and Unintended Consequences of Mandatory IFRS Adoption: A Review of Extant Evidence and Suggestions for Future Research. This paper reviews the literature on the effects of International Financial Reporting Standards (IFRS) adoption. The AcSB is participating in the IASB’s post-implementation review of IFRS 10, IFRS 11, and IFRS 12 to provide input on these standards’ effects. Under IFRS 9 all financial instruments are initially measured at fair value plus or minus, in the case of a financial asset or financial liability not at fair value through profit or loss, transaction costs [IFRS 9: 5.1.1]. IFRS 9 Financial Instruments (Hedge accounting only) – Snapshot . 17 The Council need to consider that, although this review focused on the preparedness of full IFRS implementation due in 2010/11, IFRIC12 Service Concession Arrangements will apply to 2009/10. (2013). Comparing IFRS 11 to IAS 31 Post-implementation Review of IFRS 10, IFRS 11, and IFRS 12 Towards a Response to the IASB Request for Information Cover Note Objective of the session 1 This session has two objectives: (a) to provide EFRAG TEG members with an update on the IASB’s project Post-implementation Review of IFRS 10 Consolidated Financial Statements, IFRS IFRS 10 heeft belangrijke consequenties voor de afweging wanneer een onderneming ‘control’ heeft in een andere entiteit. a) provide information about the PIR of IFRS 10,11 and 12. b) obtain input and, if possible, discuss issues that investors encounter when analysing financial statements. IFRS 13 Fair Value Measurement – Post Implementation Review EFRAG Board meeting 31 May 2017 Paper 10.01, Page 2 of 2 EFRAG’s approach 8 For previous post-implementation reviews, EFRAG has collected the views of constituents, separately for users and all other constituents, and shared the views that it hears with the IASB. Generally, companies included helpful company-specific explanations and… Post-implementation Review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities Cover Note Objective 1 The objective of the session is to discuss the issues that should be considered by Request for Information Comprehensive Review of the IFRS for SMEs Standard is published by the International Accounting Standards Board (Board) for comment only. Early application is permitted. European Accounting Review: Vol. Why change? IFRS 10 Consolidated Financial Statements 2 IFRS 10 - effective date IFRS 10 shall be applied for annual periods beginning on or after 1 January 2013. IFRS 11 Joint Arrangements – Summary. IFRS 10 retains the consolidation exemption for a parent that is itself a subsidiary and meets certain strict conditions. The IASB has published a Request for Information (RFI) as part of the Post-implementation Review (PIR) of these standards. Objective. IFRS 10 replaces those parts of IAS 27 that relate to consolidated financial statements (IAS 27 revised now concentrates on separate financial statements only), and SIC 12 in its entirety. IFRS 11. A Review of the Literature on IFRS Adoption From the Perspective of the Value Relevance: 10.4018/978-1-5225-9265-5.ch017: International Financial Reporting Standards (IFRS)-based financial reporting has become widespread all around the world especially after its mandatory IFRS 10 uses control as the single basis for consolidation, and requires that all three of the following are in place in order to establish control and so consolidate an investee: 1-37. IFRS 16 Thematic Review: Review of Interim Disclosures in the First Year of Application. IFRS – IFRS 10, 11 & 12. However, a 120-day comment period that extends December 2020 to April 2021 IFRS 10 Consolidated Financial Statements – Summary. It aims to provide a cohesive picture of empirical archival literature on how IFRS adoption affects: financial reporting quality, capital markets, corporate decision making, stewardship and governance, debt contracting, and auditing. Comments need to be received by 27 October 2020 and should be submitted in writing to the address below, by email to commentletters@ifrs.org or electronically using our ‘Open for comment documents’ page at: Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12│Due process steps undertaken in the first phase Page 5 of 7 requesting views on new proposals, as may be the situation for an exposure draft or a discussion paper. Post-implementation review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities (Agenda Paper 7) The Board met on 26 September 2019 to discuss an update on the first phase of the post-implementation review of IFRS 10, IFRS 11 and IFRS … De EU heeft IFRS 10 op dit moment nog niet goedgekeurd. – IFRS 10 places less emphasis on the concept of ‘autopilot’ and instead requires a more specific identification of the future activities and decisions that can affect returns • IFRS 10 does include guidance on situations in which voting or similar rights are not the dominant factor in deciding who controls the investee. Find out more. IFRS 12 Disclosure of Interests in other Entities – Summary Review of requirements. IFRS 16 Thematic Review (September 2020) Financial Reporting Council 4. • This session forms part of phase 1 of the PIR of IFRS 10,11 and 12 and aims to help the Board identify any major issues that entities encountered The UK’s Financial Reporting Council has published a report on its “IFRS 15 Thematic Review: Review of Disclosures in the First Year of Application.” The overall finding was that “most of the companies sampled provided sufficient information to enable users to understand the impact of adopting IFRS 15. An entity shall apply those amendments made to IFRS 10 with regards to Investment Entities for annual periods beginning on or after 1 January 2014. 22, No. A lack of research is also noted for other key areas, including leasing, post … Therefore, compliance with standards such as IAS 2, 8, 10, 20, 21, 27 (now IFRS 10), 28, 31 (now IFRS 11), and IFRS 4 through 7 has yet to be investigated for larger, developed markets. The review is being conducted by means of a questionnaire. Financial Reporting Council ‖IFRS 16 Thematic Review Contents Executive summary 3 Scope and sample 4 Findings: Transition options 5 Explaining changes in accounting policies 8 Transition disclosures 10 De toepassing van IFRS 10 en 11 vraagt om een gestructureerde aanpak en de nodige professionele oordeelsvorming. This paper reviews the literature on the effects of IFRS adoption. Toepassen nieuwe IFRS-consolidatieregels vraagt om gestructureerde aanpak Met ingang van 2014 moeten ondernemingen de nieuwe IFRS-regelgeving toepassen met betrekking tot consolidatie (IFRS 10) en samenwerkingsverbanden (IFRS 11). 1, pp. Defining joint control – new approach. This standard prescribes the principle of control and the guidelines which are used by the entity for the identification and establishment of control. (IFRS 10, IFRS 11, and IFRS 12) Issues Paper - Update Objective 1 Objective of this session is to provide an update to the EFRAG Board members on the IASB’s project Post-implementation Review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements, and IFRS 12 Disclosure of Interests in Other Entities (the PIR). This paper is an appraisal of existing literature on IFRS in Africa. Consolidated financial statements – IFRS 10 41 Separate financial statements – IAS 27 42 Business combinations – IFRS 3 43 Disposal of subsidiaries, businesses and non-current assets – IFRS 5 44 Equity accounting – IAS 28 45 Joint arrangements – IFRS 11 46 Other subjects 47 Related-party disclosures – … Overview - agenda. It aims to provide a cohesive picture of empirical archival literature on how IFRS adoption affects: financial reporting quality, capital markets, corporate decision making, stewardship and … accounts for 2009/10, for inclusion in these accounts. Measurement of lease liabilities Most companies in our sample repeated the requirements of paragraph 26, that ‘leasepayments shall be discounted using the interest rate implicit in the In November 2010, the IFRS Foundation Trustees' Due Process Oversight Committee issued a request for views to assess the operational effectiveness of the Interpretations Committee. IFRS 11 Joint Arrangements – Snapshot. The International Accounting Standards Board (IASB) is seeking feedback on the standards dealing with accounting for interests in other entities – IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities.. 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