BC121 Most of the disclosure requirements for consolidated and unconsolidated structured entities are similar to those for variable interest entities in Subtopic 810‑10 in the FASB Accounting Standards Codification®. The Board developed many of those disclosure requirements in conjunction with the FASB, following the Financial Stability Board's recommendation to work with other accounting standard‑setters to achieve international convergence in this area. However, IFRS 12 goes further than the disclosure requirements in Subtopic 810‑10 because it requires an entity to disclose information about:
(a) the interest that non‑controlling interests have in the activities of a consolidated structured entity; and
(b) the risks from sponsoring an unconsolidated structured entity for which the entity does not provide other risk disclosures.
BC122 IFRS 12 also includes more detailed disclosure requirements than US GAAP for subsidiaries, joint arrangements and associates (eg summarised fi
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