Canada - English

Details

  • Service: Audit, Audit, Audit & Financial Reporting
  • Industry: Financial Services, Banking & Finance, Building, Construction & Real Estate
  • Type: Business and industry issue
  • Date: 12/4/2011

First Impressions: Consolidated Financial Statements – IFRS 10 

Our First Impressions discusses the new approach for determining which investees should be consolidated.
The new consolidation standard (IFRS 10) aims to develop a single consolidation model applicable to all investees, alleviating past concerns that existing consolidation and disclosure standards failed to adequately portray the risks to which investors in certain entities were exposed. The standard explicitly introduces concepts of agent vs principal and de facto control; the former being particularly important for industries such as funds, asset management and real estate.
 

Share this

 

Follow us