Topic 09 · IFRS 10, IFRS 11, IAS 28, IFRS 12
Consolidation & scope
Which entities a group must fold into consolidated financial statements, how control is tested, and how subsidiaries, joint arrangements and associates are measured, presented and disclosed.
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- 2026-02-01FRS 102Alongside other targeted UK GAAP updates maintaining international alignment, the FRC issued minor clarifying amendments to the Section 9 consolidation-exemption conditions introduced by the Periodic Review 2024, without changing the underlying control model. Effective for the same periods as the main Periodic Review 2024 amendments, beginning on or after 1 January 2026. Effective 2026-01-01.
- 2024-09-19IFRSProposes application guidance answering long-standing IAS 28 questions (including step acquisitions and changes in an investor's ownership interest) and would, once finalised, let the IASB withdraw the 2014 IFRS 10/IAS 28 amendments on sales or contributions of assets to an associate or joint venture, whose effective date was deferred indefinitely in December 2015. Comments closed January 2025; the IASB was still redeliberating the proposals as of mid-2026 and had not issued a final amendment.
- 2023-08-23US GAAPRequires a newly formed joint venture to apply a form of the acquisition method to recognise and initially measure its own assets and liabilities at fair value on formation, closing a gap left by the absence of specific guidance in Topic 805. Effective prospectively for joint venture formations with a formation date on or after 1 January 2025, with early application permitted. Effective 2025-01-01.
- 2018-10-31US GAAPExtends the private-company alternative from common-control leasing arrangements to other qualifying common-control arrangements, and requires indirect interests held by related parties under common control to be considered on a proportional basis, rather than in full, when assessing whether a decision-maker's fee arrangement is a variable interest. Effective for fiscal years beginning after 15 December 2019 for public business entities. Effective 2020-01-01.
- 2009-05-25HGBThe Bilanzrechtsmodernisierungsgesetz added a fourth, risks-and-rewards-based presumption of controlling influence for special purpose entities, so that a parent bearing the majority of a Zweckgesellschaft's risks and rewards must consolidate it even absent a voting or governance majority. Generally effective for financial years beginning after 31 December 2009. Effective 2010-01-01.