CERTYNEX IFRS ACADEMY

A colleague writes: "As soon as an interest in an associate is classified as held for sale under IFRS 5, IFRS 12 no longer applies to that interest." What is the error in this reasoning?

It forgets that IFRS 12 applies to those interests, and that the exception in B17 exempts any information about associates and joint ventures held for sale.

It forgets that classification under IFRS 5 changes nothing for IFRS 12, and that summarised information remains required for those interests with no exception.

It confuses IFRS 5 with IFRS 11, whose classification as held for sale takes the interest outside the scope of IFRS 12 disclosures.

It forgets that IFRS 12 applies to those interests, the exception in B17 exempting only the summarised financial information of those held for sale.