Exposure Draft of Subsidiaries without Public Accountability Disclosures

Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB) of IFRS Foundation. The IASB, before issuing the new/amendments to IFRS Standards, issues consultative documents [such as Discussion Paper (DP), Exposure Draft (ED) etc] seeking public comments from across the globe. The Accounting Standards Board (ASB) of ICAI with the aim to provide an opportunity to the various stakeholders in India to raise their concerns at the initial International Standard-setting stage itself, invites comments on the consultative documents issued by the IASB. It also helps the Indian stakeholders to be aware of the preparations required for implementation of Ind AS in line with adhering to global timelines. Recently, the IASB has issued the following Exposure Draft for public comments: 

  •          Subsidiaries without Public Accountability: Disclosures

This Exposure Draft sets out the proposal of the IASB for a new IFRS Standard Subsidiaries without Public Accountability: Disclosures (draft Standard). The draft Standard would permit a subsidiary to apply reduced disclosure requirements when applying IFRS Standards in its financial statements provided that:

(a)                the subsidiary does not have public accountability; and

(b)               its ultimate or any intermediate parent produces consolidated financial statements available for public use that comply with IFRS Standards (see paragraph 6(c) of the draft Standard).


How to Comment 

Comments may be submitted through any of the following modes: 



Click on "Submit a comment letter" below (Preferred method)                 


Comments can be sent to: commentsasb@icai.in 


Secretary, Accounting Standards Board, 

The Institute of Chartered Accountants of India, 

ICAI Bhawan, Post Box No. 7100,  

Indraprastha Marg, New Delhi 110 002 

Further clarifications may be sought by e-mail to asb@icai.in.

Comment letter deadline

The Exposure Draft is open for comment until 15th December, 2021

Due process documents
Exposure Draft of Subsidiaries without Public Accountability Disclosures  [PDF]