BC18 Only a subsidiary without public accountability is permitted to apply IFRS 19, as set out in paragraph 7(a)-(b) of IFRS 19, consistent with the proposals in the Exposure Draft.
BC19 In the project's research phase, the IASB investigated using the disclosure requirements in the IFRS for SMEs Accounting Standard with only minimal amendments to develop a new Standard. The IFRS for SMEs Accounting Standard is intended for entities without public accountability, and the IASB developed the new Standard with the intention that it would be available only for subsidiaries without public accountability (see paragraph 7(b) of IFRS 19). The Exposure Draft included the description of public accountability from paragraphs 1.3-1.4 of the IFRS for SMEs Accounting Standard.
BC20 The IASB discussed the description of public accountability as part of its deliberations on the second comprehensive review of the IFRS for SMEs Accounting Standard. It decided the description should list banks, credit uni
…