If a parent entity chooses not to prepare consolidated financial statements, IAS 27 Separate Financial Statements requires the following disclosures in the separate financial statements of the parent: I. The name, country of residence and voting power of the directors of the parent.
II) That the exemption from consolidation has been used.
III) A list of significant investments including the proportion of ownership.
IV) A description of the method used to account for the investments.
A) I, II and IV only;
B) II, III and IV only;
C) II and III only;
D) IV only.

Question

Quizplus · Accepted Answer

IAS 27 requires disclosure of the fact that the exemption from consolidation has been used (II), a list of significant investments including the proportion of ownership interests (III), and a description of the method used to account for the investments (IV). It does not require disclosure of the directors' details.

If a Parent Entity Chooses Not to Prepare Consolidated Financial