Stellungnahme BdB zum Exposure Draft ED 10: Consolidated Financial Statements
We welcome the draft's objective of combining the requirements currently covered by IAS 27 and SIC 12 in a new, principles-based standard with a consolidation model which may be applied to all entities. The proposed concept of control is basically sound, in our view. Nevertheless, the proposals in their present form throw up a number of questions and problems, especially when it comes to assessing control which is not based on a majority of voting rights. We therefore believe that some areas need to be revised in order to facilitate the practical application of the proposed requirements.
We welcome the consolidation of the requirements currently set out in IAS 27 and SIC 12 into a single standard to be applied to both structured entities and entities controlled by a governing body. The definition of control proposed in ED 10.4 is basically appropriate, in our view, and could be applied to all entities. Nevertheless, it may sometimes prove difficult in practice to assess whether or not control exists on the basis of the general criteria outlined in the exposure draft. […]