MFRS 19 Subsidiaries without Public Accountability: Disclosures
MFRS 19 offers a set of alternative disclosure requirements that an entity is permitted to use. This means entities can choose to apply the disclosure requirements outlined in MFRS 19 instead of the disclosure requirements typically found in other MFRS Accounting Standards.
When an entity chooses to apply MFRS 19, it still follows the recognition, measurement, and presentation requirements of other MFRS Accounting Standards. However, for the disclosure aspect, it replaces those specific disclosure rules with the requirements set out in MFRS 19.
There are important exceptions to this replacement: If an entity applying MFRS 19 also uses MFRS 8 Operating Segments, MFRS 17 Insurance Contracts, or MFRS 133 Earnings per Share, it is mandated to apply all the disclosure requirements specified within MFRS 8, MFRS 17 or MFRS 133.
Want to know more?