IFRS Masterclass: IFRS 10 Control

IFRS Masterclass: IFRS 10 Control (Cancelled)

The principle of control in IFRS remains one which is often misunderstood and can be challenging to apply, with significant implications for preparers.


This seminar examines the definition of control, focussing on practical challenges which can arise in making the assessment. The in-depth review includes frequently asked questions around the elements of control such potential voting rights and the principal vs agent assessment, the latter of particular importance to asset managers.

Learning objectives 

This masterclass aims to provide participants with a deeper understanding of the concept of control in IFRS. This is critical not only for determining when consolidated financial statements might be required and which entities will form part of the group, but also in identifying which additional disclosures might be required.


Presented in an interactive environment with an expert speaker, preparer and auditor participants will have the opportunity to increase their knowledge of the components of control and discuss common practical challenges in the control assessment.

Course Content 

  • Definition of control
  • Power – Identifying relevant activities and rights to direct those activities, including the assessment of potential voting rights
  • Exposure to variable returns – Common financial and non-financial returns, and which returns absorb rather than contribute exposure
  • Link between power and returns – How the link can be illustrated, and the assessment as to whether parties are acting as principal or agent, with particular consideration to asset managers
  • Silos – Assessing whether a silo exists, including events which breach the silo, and an overview of accounting for the silo
  • Structured entities – Identifying structured entities, how to assess the consolidation criteria and what requirements apply for unconsolidated structured entities.

Who should attend

  • Accountants/auditors
  • Non-financial executives and directors with an active role in preparing, analyzing and presenting financial statements.
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DATES: 24 May



LOCATION: EIMF Premises, Nicosia

TIME: 09:00 - 12:00

FEES: €80 + VAT

Start DateCourse TitleLocationCPD UnitsStatus

Participants will receive a certificate for successful participation indicating all topics covered

If you need help completing the online registration form, please give us a call at 2227 4470 or email us at info@eimf.eu 

Trainer: Derek Carmichael

Derek is a Chartered Accountant and IFRS specialist with over 20 years of experience in accounting and financial reporting globally. After originally training with Deloitte in Scotland, Derek spent two years in New York with PwC leading the audits of financial statements and internal control of SEC-listed utilities companies. Derek transferred to PwC London in 2006 to lead the audits of several oil & gas and utilities companies, also becoming involved with the development and delivery of IFRS training material.


In 2009, Derek joined PwC’s centre responsible for advising large companies and the global network of accounting consultants in complex IFRS accounting issues. He authored many thought-leadership publications including industry-specific accounting manuals and guides. He also provided training to the global PwC network and presented a number of short videos and a live webcast with IASB staff on the new IFRS 16 Leases and IFRS 9 Financial Instruments standards. Now living in Cyprus, Derek provides training solutions across a range of IFRS topics. He is a member of the Institute of Chartered Accountants of Scotland and holds a Batchelor degree from the Strathclyde University Business School.