CERTYNEX IFRS ACADEMY

Where are the criteria for knowing whether one entity controls another found, and what is IFRS 12's role in this respect?

In IFRS 12, which sets the criteria for control, IFRS 10 merely prescribing the presentation of consolidated financial statements.

In IFRS 11, which defines control of an entity and refers to IFRS 12 for the consolidation of structured entities.

In IAS 28, which defines control by contrast with significant influence, IFRS 12 setting the scope of consolidated statements.

In IFRS 10; IFRS 12 governs the information to provide about the significant judgements that led to concluding on control.