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Post-implementation Review of IFRS 10, IFRS 11, and IFRS 12

General information

In May 2011, the IASB published IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements, IFRS 12 Disclosure of Interests in Other Entities, revised IAS 27 Separate Financial Statements, and revised IAS 28 Investments in Associates and Joint Ventures . 

In IFRS 10, the IASB introduced a single control model for consolidation. In IFRS 11, compared to the previous IAS 31 Interests in Joint Ventures, the IASB eliminated the accounting options and proportional consolidation, and introduced the classification of, and accounting for, joint arrangements based on rights and obligations. In IFRS 12, the IASB introduced enhanced disclosure requirements. 

In April 2019, the IASB initiated a post-implementation review process of IFRS 10, IFRS 11, and IFRS 12 (the PIR). The Post-implementation reviews are part of the IASB’s due process and help the IASB assess the effects of requirements on users of financial statements, preparers and auditors. In particular, this process aims to assess:
  1. whether an entity applying the requirements in a Standard produces financial statements that faithfully portray the entity’s financial position and performance, and whether this information helps users of financial statements to make informed economic decisions;
  2. what are the areas of the Standard that pose challenges;
  3. what are the areas of the Standard that could result in inconsistent application; and
  4. whether there are any unexpected costs that arise when applying or enforcing the requirements of the Standard, or when using or auditing information the Standard requires an entity to provide.
On 9 December, the IASB published a Request for Information (the RFI) seeking views on the standards. The RFI is available on the IASB's web site here.

EFRAG is launching this questionnaire in order to collect information required to respond to the questions included in this RFI. 

About this survey:
  • This survey contains two sets of questions - one for preparers and one for users and is intended for European constituents using/preparing IFRS based financial statements.
  • The survey should take approximately 15-20 minutes to complete and can be completed with breaks being taken.
  • This survey allows you to Save and continue later. You will see that option in the top-right corner of the survey  starting from page 2 .
  • On the final page, you will be able to see the summary of your responses where  you will be also able to download  them in a pdf format.  Additionally, a pdf version of your response will be sent to you to the email address provided in Question 1.
  • Please note that the results of the survey will only be published in aggregate and no individual respondent will be identified. We ask for your contact details in order to be able to ask additional clarifying questions in the process of finalising EFRAG's response to the RFI.
  • A word version of the survey for preparers is available here, and for users is available here
1. Your contact details:
This question requires a valid email address.
May we contact you if we have a question about your response? (Y/N) *This question is required.
May we share your contact details with the IASB for the purpose of further outreach activities? (Y/N) *This question is required.
2. Are you: *This question is required.
Does your company have significant operations in the European Union? *This question is required.
Do you cover companies in the European Union? *This question is required.