At its meeting on November 20, 2019, the IASB met and discussed feedback on the Exposure Draft. In this regard:

1. subsidiary as a first-time adopter - the Board tentatively decided to amend IFRS 1 to permit a subsidiary that elects to apply paragraph D16(a) of IFRS 1 to measure—using the amount reported by the parent—cumulative translation differences (CTD) for all foreign operations. This measurement is based on the parent’s date of transition to IFRSs. The amendment would also apply to associates and joint ventures that elect to apply paragraph D16(a) of IFRS 1;
2. fees in the '10 per cent' test for derecognition of financial liabilities, the Board tentatively decided to finalize the amendment to IFRS 9 proposed in the Exposure Draft with no changes;
3. lease incentive - the Board tentatively decided to finalize the amendment to illustrative Example 13 of IFRS 16 proposed in the Exposure Draft with no changes; and
4. taxation in fair value measurements - the Board tentatively decided to finalize the amendment to paragraph 22 of IAS 41 proposed in the Exposure Draft with no changes. The Board will consider the effective date and due process steps in relation to this project at a future meeting.

Review the IASB Update and podcast on the Board's Web site.