• 2024 Issued Standard – IFRS 12
  The 2024 Issued Standards include all amendments issued up to and including 31 December 2023.

Registration is required to access the free version of the Issued Standards, which do not include additional documents that accompany the full standard (such as illustrative examples, implementation guidance and basis for conclusions).

Note that the Issued Standards contain amendments that have a mandatory effective date that is later than 1 January 2024.

IFRS 12 applies to any entity which has an interest in a subsidiary, joint arrangement, associate or unconsolidated structured entity.

Its objective is to require the disclosure of information which enables users of financial statements to evaluate:

• the nature of, and risks associates with, its interests in other entities, and
• the effects of those interests on its financial position, financial performance and cash flows.

In order to meet this objective, entities are required to make the following disclosures:

• Significant judgements and assumptions made in determining control, joint control or significant influence and type of joint arrangement.
• Information on interests in subsidiaries such that the composition of the group and non-controlling interest is understood and restrictions, risks and changes in ownership can be evaluated.
• Information on interests in associates and joint arrangements such that the nature and extent of the interests, financial effects and associated risks can be evaluated.
• Information on interests in unconsolidated structured entities such that the nature and extent of the interests and associated risks can be evaluated.