10 December 2020To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON IASB REQUEST FOR INFORMATIONPost-implementation Review of IFRS 10, IFRS 11 and IFRS 12Comments to be received by 1 April 2021The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute ofCertified Public Accountants (Institute) is seeking comments on the IASB Request forInformation Post-implementation Review (PIR) of IFRS 10 Consolidated FinancialStatements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in OtherEntities. The Request for Information is available on the Institute's website:
http://www.hkicpa.org.hk/en/standards-and-regulations/standards/financial-reporting/exposure-drafts/The International Accounting Standards Board (IASB) is undertaking a PIR of IFRS 10,IFRS 11 and IFRS 12. A PIR is part of the IASB’s due process, and helps the IASB assessthe effects of a new Standard after companies have applied the requirements for some time.IFRS 10 sets out requirements for the preparation of consolidated financial statements;
IFRS 11 addresses how to account for interests in joint arrangements; and finally, IFRS 12sets out the information to be disclosed in the notes to the financial statements aboutinterests in other companies. These IFRS Standards have been effective for annualreporting periods beginning on or after 1 January 2013.The Request for Information seeks feedback on applying these three Standards and on theinformation provided to users of financial statements. The IASB will use the feedback onthe Request for Information to determine whether any further action is required.The FRSC invites your comments on the Request for Information by 1 April 2021 to allowyour comments to be considered in developing its response to the IASB. Comments shouldbe supported by specific reasoning and should be submitted in written form.Comments may be sent by mail, fax or e-mail to:
Standard Setting DepartmentHong Kong Institute of Certified Public Accountants37th Floor, Wu Chung House213 Queen’s Road EastWanchai, Hong KongFax number (+852) 2865 6776E-mail: commentletters@hkicpa.org.hkComments will be acknowledged and may be made available for public review unlessotherwise requested by the respondent.
Invitation to Comment on IASB Request for Information Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12
下载原件10 December 2020To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON IASB REQUEST FOR INFORMATIONPost-implementation Review of IFRS 10, IFRS 11 and IFRS 12Comments to be received by 1 April 2021The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute ofCertified Public Accountants (Institute) is seeking comments on the IASB Request forInformation Post-implementation Review (PIR) of IFRS 10 Consolidated FinancialStatements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in OtherEntities. The Request for Information is available on the Institute's website:
http://www.hkicpa.org.hk/en/standards-and-regulations/standards/financial-reporting/exposure-drafts/The International Accounting Standards Board (IASB) is undertaking a PIR of IFRS 10,IFRS 11 and IFRS 12. A PIR is part of the IASB’s due process, and helps the IASB assessthe effects of a new Standard after companies have applied the requirements for some time.IFRS 10 sets out requirements for the preparation of consolidated financial statements;
IFRS 11 addresses how to account for interests in joint arrangements; and finally, IFRS 12sets out the information to be disclosed in the notes to the financial statements aboutinterests in other companies. These IFRS Standards have been effective for annualreporting periods beginning on or after 1 January 2013.The Request for Information seeks feedback on applying these three Standards and on theinformation provided to users of financial statements. The IASB will use the feedback onthe Request for Information to determine whether any further action is required.The FRSC invites your comments on the Request for Information by 1 April 2021 to allowyour comments to be considered in developing its response to the IASB. Comments shouldbe supported by specific reasoning and should be submitted in written form.Comments may be sent by mail, fax or e-mail to:
Standard Setting DepartmentHong Kong Institute of Certified Public Accountants37th Floor, Wu Chung House213 Queen’s Road EastWanchai, Hong KongFax number (+852) 2865 6776E-mail: commentletters@hkicpa.org.hkComments will be acknowledged and may be made available for public review unlessotherwise requested by the respondent.