The new standard, IFRS 19 Subsidiaries without Public Accountability: Disclosures, permits eligible subsidiaries to use IFRS accounting standards with reduced disclosures, but will be a voluntary standard when it comes into effect in 2027.

Th e main reductions in disclosure will be related to liquidity risk and currency risk; comparative information for property, plant and equipment and intangible assets; breakdown of expenses by nature; and reconciliation of cash and cash equivalents.