WG 63 Consolidation

Chairman: Mr. Chan Hooi Lam; Project Manager: MASB Secretariat

WG 63 was set up to review IASB ED 10 Consolidated Financial Statements. The objective of this draft is to publish a single IFRS on consolidation to replace requirements in IAS 27 and SIC-12. The proposals are designed to develop a cohesive control based model that encompasses structured financing and investment vehicles. The IASB believes that the proposals would, if implemented, improve the definition of control and related application guidance so that a control model can be applied to all entities.