Disclosure exemptions

Learning objectives

• Identify the items exempt from the IFRS 13 disclosures that are nevertheless measured under the framework of the Standard.L2

Normative references

• IFRS 13 §7Exemption from the disclosure requirements only (measurement remains governed by the Standard) for plan assets of employee benefit plans (IAS 19), retirement benefit plan investments (IAS 26) and assets whose recoverable amount is fair value less costs of disposal (IAS 36).

Original summaries of the paragraphs (reference register), never a quotation of the standard.

2 questions

• Under IFRS 13, for which items is the entity exempt from the standard's disclosures while still having to measure them under the framework? (Several answers.)L2
• Montaubry's closing file states: "The assets of our retirement plan are exempt from IFRS 13 disclosures; therefore they need not be measured under the IFRS 13 framework." What is the error?L2