IFRS 19 Reporting for Subsidiaries
August 13, 2025
What It Means:
IFRS 19 allows subsidiaries that do not have public accountability and whose parent applies full IFRS Accounting Standards in consolidated statements to adopt IFRS Accounting Standards with reduced disclosures in their own financial statements.
Key Benefits:
• Streamlined reporting process.
• Aligned accounting policies with parent for group reporting.
• Reduced disclosure burden.
• Lower cost of compliance.
• No need for dual accounting records (local GAAP vs IFRS Accounting Standards) .
Eligibility Criteria: A subsidiary may apply IFRS19 if:
• It does not have public accountability; and
• Its parent's IFRS Accounting Standards-compliant consolidated statements are publicly available
Entities with public accountability (e.g., listed companies, banks, insurers) are not eligible.
Effective Date:
Applicable for periods beginning on or after January 01, 2027
Early adoption is permitted (with conditions).
At UHY James Chartered Accountants, we help businesses navigate IFRS Accounting Standards transitions with precision and confidence.
If you’re assessing IFRS 19 adoption, our team is here to guide you. Email us at [email protected].
If you’re assessing IFRS 19 adoption, our team is here to guide you. Email us at [email protected].