Constituents split over proposed deferral of effective date of September 2014 amendments to IFRS 10 and IAS 28

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Oct 09, 2015

On October 9, 2015, the comment period ended for the International Accounting Standards Board's (IASB) Exposure Draft (ED) of proposed amendments to IFRS 10 and IAS 28 aimed at deferring the effective date of the September 2014 amendments to these standards indefinitely until the research project on the equity method has been concluded. It has become obvious that constituents are split as to whether this proposed deferral should be finalized.

Constituents arguing against the deferral note that the proposed amendments were broadly supported and have fully passed the IASB's due process. They also point out that the amendments lead to an increased clarity and the reduction of diversity in practice for the majority of transactions.

Constituents arguing for the deferral stress that the deferral enables entities to avoid changing how they apply IAS 28 twice.

All parties agree that if such a deferral is approved, the IASB needs to prioritize its research project on the equity method and come to conclusions soon.

Review all comment letters made available publicly so far on the IASB's Web Site.

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