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International Financial Reporting Standard 11

Joint Arrangements
In April 2001 the International Accounting Standards Board (IASB) adopted IAS 31 Financial
Reporting of Interests in Joint Ventures, which had originally been issued by the International
Accounting Standards Committee in December 1990.
In December 2003 the IASB amended and renamed IAS 31 with a new title—Interests in Joint
Ventures. This amendment was done in conjunction with amendments to IAS 27
Consolidated Financial Statements and Accounting for Investments in Subsidiaries and IAS 28
Accounting for Investments in Associates.
In May 2011 the IASB issued IFRS 11 Joint Arrangements to replace IAS 31. IFRS 12 Disclosure
of Interests in Other Entities, also issued in May 2011, replaced the disclosure requirements in
IAS 31. IFRS 10 incorporated the guidance contained in a related Interpretation (SIC-13
Jointly Controlled Entities-Non-Monetary Contributions by Venturers).

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