Deloitte comment letter on IFRS Interpretations Committee tentative agenda decision on reverse acquisitions
Deloitte's IFRS Global Office has submitted a letter of comment responding to the IFRS Interpretation Committee's tentative decision published in the November 2012 IFRIC Update not to take onto the IFRIC’s agenda a request for clarification of the accounting for transactions in which the former shareholders of a non-listed operating entity become the majority shareholders of the combined entity by exchanging their shares for new shares of a listed non-operating entity which does not constitute a business.
We agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda, but present in the comment letter the following ways the decision could be made clearer:
|
Download the full comment letter below.