I. EXPOSURE DRAFT
EXPOSURE DRAFT OF IND AS 119
NEW ACCOUNTING STANDARD FOR SUBSIDIARIES
The Institute of Chartered Accountants of India (ICAI) has issued an Exposure Draft of Ind AS 119, "Subsidiaries without Public Accountability: Disclosures," aligned with the recently issued IFRS 19 by the International Accounting Standards Board.
Scope: The standard provides reduced disclosure requirements for eligible subsidiaries that:
- Do not have public accountability
- Have an ultimate or intermediate parent producing IFRS-compliant consolidated financial statements available for public use
Purpose: Eligible subsidiaries can apply these simplified disclosure requirements instead of the full disclosure requirements in other Ind AS standards.
Effective Date: Annual reporting periods beginning on or after April 1, 2027 (aligning with the global IFRS 19 effective date of January 1, 2027)
Public Comments Invited:
The Accounting Standards Board invites stakeholders to submit comments on the Exposure Draft by
March 5, 2026.
Submit Comments:
- Online (Preferred): http://www.icai.org/comments/asb/
- Email: commentsasb@icai.in
- Postal: ICAI, New Delhi
Download the Exposure Draft: https://resource.cdn.icai.org/89774asb-aps3404.pdf
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