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IFRS 10 'Consolidated Financial Statements' will lead to some reporting entities having to consolidate Special Purpose Entities (SPEs) that were previously not consolidated. In some other cases, reporting entities will no longer consolidate SPEs that were previously consolidated. Whether a reporting entity will have to consolidate more or fewer SPEs will depend on the nature of its interests with the SPE being evaluated.
The main purpose of the supplementary study is to illustrate, on a high level and on the basis of the implementation efforts conducted by issuers so far, changes in the consolidation scope of SPEs brought about by IFRS 10 and the underlying reasons for the change, as compared to the current accounting under IAS 27 'Consolidated and Separate Financial Statements and SIC-12 Consolidation - Special Purpose Entities'.
The results of this study will be provided to representatives of EU Member States and the EC.
EFRAG staff has developed a questionnaire, which includes a reporting template, to help facilitate the data collection effort and processing of the findings. The questionnaire asks participants to report on the results and conclusions of their internal assessment regarding the consolidation of SPEs under IFRS 10. EFRAG is aware that internal assessments are still being made. Therefore participants in the study are asked to share the results of the internal assessments conducted so far. EFRAG staff (or national standard-setters' staff) will conduct, when necessary, follow-up interviews with participants either by telephone or face-to-face.
Participants who accept contributing to this study will be requested to complete the questionnaire by 16 April, 2012.
All of the information provided to EFRAG (and national standard-setters) during the supplementary study will remain confidential. Information used in any reports will be presented in such a way that no individual company and person will be able to be identified. However, the list of participants to the survey will be included as an appendix to the report.