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Compiled AASB Standard  AASB 12

Disclosure of Interests in Other Entities

This compiled Standard applies to annual periods beginning on or after 1 July 2021.  Earlier application is permitted for annual periods beginning on or after 1 January 2017 but before 1 July 2021.  It incorporates relevant amendments made up to and including 6 March 2020.

Prepared on 21 July 2021 by the staff of the Australian Accounting Standards Board.

Compilation no. 3

Compilation date:  30 June 2021

Obtaining copies of Accounting Standards
Compiled versions of Standards, original Standards and amending Standards (see Compilation Details) are available on the AASB website: www.aasb.gov.au.
Australian Accounting Standards Board
PO Box 204
Collins Street West
Victoria   8007
AUSTRALIA
Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au
Website: www.aasb.gov.au

Other enquiries
Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au

COPYRIGHT
© Commonwealth of Australia 2021
This compiled AASB Standard contains IFRS Foundation copyright material.  Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source.  Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to The National Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.
All existing rights in this material are reserved outside Australia.  Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only.  Further information and requests for authorisation to reproduce for commercial purposes outside Australia should be addressed to the IFRS Foundation at www.ifrs.org.

Contents

COMPARISON WITH IFRS 12
ACCOUNTING STANDARD
AASB 12 DISCLOSURE OF INTERESTS IN OTHER ENTITIES

from paragraph
Objective 1
Meeting the objective 2
Scope 5
Significant judgements and assumptions 7
Investment entity status 9A
Interests in subsidiaries 10
The interest that non-controlling interests have in the group's activities and cash flows 12
The nature and extent of significant restrictions 13
Nature of the risks associated with an entity's interests in consolidated structured entities 14
Consequences of changes in a parent's ownership interest in a subsidiary that do not result in a loss of control18
Consequences of losing control of a subsidiary during the reporting period 19
Interests in unconsolidated subsidiaries (investment entities) 19A
Interests in joint arrangements and associates 20
Nature, extent and financial effects of an entity's interests in joint arrangements and associates 21
Risks associated with an entity's interests in joint ventures and associates 23
Interests in unconsolidated structured entities 24
Nature of interests 26
Nature of risks 29
Commencement of the legislative instrument
Withdrawal of AASB pronouncements Aus31.2
Appendices
A  Defined terms
B  Application guidance
C  Effective date and transition
E  Australian implementation guidance for not-for-profit entities
F  Australian simplified disclosures for Tier 2 entities