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EFAMA's reply to IASB's Request for Information on the Post-implementation Review (PIR) of IFRS 10, 11 and 12

Tax & Accounting
11 May 2021 | Policy Position
Tax & Accounting

EFAMA replied to IASB’s Request for Information on the Post-Implementation Review of IFRS 10, 11 and 12. We are delighted to see an investment entity within the funds industry being acknowledged and catered for in IFRS. The development of the consolidation standards was a very welcomed development in the asset management world. The application of the consolidation exception is rather consistent, but we see room for improvement and call on the IASB to provide the industry with additional guidance/examples regarding structures that fail the exception, situations where no one consolidates, intermediate investment entities that should continue to be measured at fair value.

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