The consultation process for IFR4NPO looked at the topic of Reporting Entity (including branches), and reached out to the respondents on this topic. The results of the consultation favoured alternative 2 i.e. defining control using pragmatic methods of assessment such as the power to govern financial and operating policies as required by the IFRS for SMEs Standard.
This issue was explored with the invited participants, concentrating on the advantages and disadvantages of both alternatives in the consultation and testing the pragmatic guidance.
We were delighted at the insights and commentary on the technical and practical issues raised in this focus group. You can check out the slide deck here.
We will be holding similar events on different topics in the future, and inviting stakeholders who responded to the consultation and others. If you would like to be considered for an invitation, please fill out the form on the button below