Mazars Benchmark Study - Application of the standards on consolidation (IFRS 10, IFRS 11 and IFRS 12)
The ‘consolidation package’ published by the IASB in May 2011 (together with amendments to the transition requirements published in June 2012) became mandatory for annual periods beginning on or after 1 January 2013. Malaysian companies had applied the equivalent versions of MFRSs or FRSs effective on the same date. The mandatory effective date for European issuers is one year later than that set by the IASB.
Mazars analysed the IFRS financial statements published by selected European corporations for the year ended 31 December 2013, to assess the impact of the application of IFRS 10 and IFRS 11 on the financial statements.