BC33 Some respondents to the Exposure Draft suggested that the Board should consider providing some form of relief to make the transition to accounting for investments in subsidiaries, joint ventures and associates using the equity method easier. However, the Board noted that an entity should be able to use the information that is used for consolidation of the subsidiary in its consolidated financial statements for applying the equity method to the investment in the subsidiary in its separate financial statements. Investments in associates and joint ventures (after applying the transition provisions of IFRS 11) are accounted for using the equity method in the consolidated financial statements, which means that an entity need not perform any additional procedures and can use the same information in its separate financial statements. The Board also noted that many entities would be able to draw on the information in the financial statements of its ultimate, or any intermediate, parent in order to calculate the carrying amount of its investment in a subsidiary, joint venture and associate on the initial application of these amendments. Furthermore, the application of the equity method in separate financial statements is optional and not mandatory. Consequently, the Board concluded that additional transition relief was not needed and that an entity that elects to use the equity method should be required to apply the amendments retrospectively in accordance with IAS 8.