National standard-setters in Europe are divided on the IASB's proposals. Many think that control by the customer of the goods or services supplied is the wrong starting point. In essence, they like IAS 11 but want the IASB to fix IAS 18.
As the exchange continued, it seemed that the IASB and EFRAG were reasonably close in terms of what revenue to recognise and when, but differed on how that assessment would be made (customer vs. producer/ supplier; activity vs. change of control).
The first of a series of roundtables on the ED will be held in Malaysia, tied to the World Congress of Accountants (8-11 November).