BC91 Paragraphs BC92-BC95 discuss how IFRS 19 relates to IFRS 1. Paragraphs BC106-BC107 discuss whether IFRS 19 should include transition requirements for a subsidiary that applied IFRS Accounting Standards in the preceding reporting period and applies IFRS 19 for the first time in the current period.
BC92 When such a subsidiary applies IFRS 19 for the first time, and in the preceding period its financial statements complied with IFRS Accounting Standards, its financial statements will contain fewer disclosures in the current period than in the preceding period. In this circumstance, the subsidiary might need to make changes to comparative information to be consistent with the information reported in the current period. The subsidiary will also disclose that it has applied IFRS 19.
BC93 In the circumstance set out in paragraph BC92, the subsidiary would have applied IFRS 1 in a previous period. Therefore, the IASB decided not to develop requirements in IFRS 19 for this circumstance.
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