IASB’s review of suite of consolidation standards

The IASB has begun work to review the three most recent standards covering aspects of consolidation. This review is required by the Board’s due process, and its findings may result in a refinement of the requirements, such as by developing amendments, to issuing educational material to improve stakeholders’ understanding. Decisions on these matters are still some way off as the project is an early stage, but the successful and timely completion of the work depends on the Board’s flexibility in considering all options, while avoiding knee-jerk reactions to do something in response to each and every piece of feedback it receives.