Disclosure of interest in other entities

Question 1

IFRS 12 Objective

Answer 1

Require reporting entity to disclose information that enables the user of the FS to evaluate the nature and risk associated with interest in other entities

Covers disclosures in:
Subs, Joint arrangements, Associates, unconsolidated structured entities

Structured entity = an entity whos voting rights are not the dominate factor in deciding control

Question 2

Disclosures

Answer 2

Significant judgements and assumptions made in determining control, influence and type of joint arrangement.
Information around the composition of the group and NCI
Nature, extent and financial effects of interests in join arrangements, associates, unconsolidated structured entities
Any significant restrictions on the entity’s ability to access/use assets and settle liabilities of the group
Risks
Consequences of changes in ownership and in losing control