BC9 In July 2021 the IASB published the Exposure Draft Subsidiaries without Public Accountability: Disclosures (Exposure Draft), reflecting the outcomes of its research. The Exposure Draft proposed a draft Standard that would satisfy the objective of permitting eligible subsidiaries (see paragraph BC17) to apply the recognition, measurement and presentation requirements of IFRS Accounting Standards with reduced disclosure requirements.
BC10 In the Exposure Draft, the IASB proposed a Standard that would:
(a) be part of IFRS Accounting Standards;
(b) be optional for eligible subsidiaries;
(c) set out reduced disclosure requirements to maintain the usefulness of the financial statements for users;
(d) specify which disclosure requirements in other IFRS Accounting Standards would not be applicable; and
(e) be updated, if necessary, when the IASB issued a new or amended IFRS Accounting Standard (see paragraphs BC108-BC113).
BC11 The IASB developed the requirements proposed in the Exposure D
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