IASB: Amendments to IFRS 19 - Subsidiaries without Public Accountability: Disclosures

IASB: Amendments to IFRS 19 - Subsidiaries without Public Accountability: Disclosures

• 28 August 2025
• Accounting
• South African Accounting Academy

Summary:
The International Accounting Standards Board (IASB) has issued the Amendments to IFRS 19 on Subsidiaries without Public Accountability: Disclosures. 
Article:
These amendments will provide reduced disclosure requirements for new and amended IFRS Accounting Standards issued between February 2021 and May 2024.

IFRS 19, issued in May 2024 (Refer to our previous Alert dated 14 May 2024), allows eligible subsidiaries to apply IFRS Accounting Standards with reduced disclosures. It included reduced disclosure requirements for other Standards or amendments issued up to February 2021. The newly issued amendments to IFRS 19 help eligible subsidiaries by reducing disclosure requirements for Standards and amendments issued between February 2021 and May 2024, specifically:

• IFRS 18 Presentation and Disclosure in Financial Statements;
• Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7);
• International Tax Reform—Pillar Two Model Rules (Amendments to IAS 12);
• Lack of Exchangeability (Amendments to IAS 21); and
• Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7).

With these amendments, IFRS 19 reflects the changes to IFRS Accounting Standards that take effect up to 1 January 2027, when IFRS 19 will be applicable.

In the future, IFRS 19 will be amended at the same time as the IASB issues or revises other IFRS Accounting Standards.

Click here to download the 24-page document:

https://www.ifrs.org/content/dam/ifrs/publications/amendments/english/2025/iasb-2025-1-subsidiaries-disclosures-ifrs-19.pdf

Relevance to Auditors, Independent Reviewers & Accountants:

• As an auditor and independent reviewer, you need to consider your clients’ compliance with accounting standards.
• As an accountant and compiler of financial statements, you need to consider amendments to standards that are issued by the standard-setting bodies, e.g. IASB, IAASB, etc.
• These amendments to IFRS19 will affect all Subsidiaries without Public Accountability.

Relevance to Your clients:

• An entity compiling filing financials need to consider amendments to standards that are issued by the standard-setting bodies, e.g. IASB, IAASB, etc.

• These amendments to IFRS19 will affect all Subsidiaries without Public Accountability.

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