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Business Combinations under Common Control (Potential Amendments to IFRS 3) [Research]

Next steps:

The International Accounting Standards Board (the Board) expects to issue a Discussion Paper in the first half of 2019

Last updated:

March 2018

Overview

The essence of the project is identifying whether and when an entity should continue to use the previous carrying amounts of a transferred business (carry-over accounting) and whether and when it should apply business combination accounting. The IASB will also assess whether any aspects of carry-over accounting or business combination accounting need to be modified for these combinations, because they are directed rather than externally transacted changes of control between related parties.

At its meeting on June 17-19, 2014, the IASB discussed the scope of the research project on business combinations under common control and tentatively decided that the project should consider (i) business combinations under common control that are currently excluded from the scope of IFRS 3, Business Combinations; (ii) group restructurings; and (iii) the need to clarify the description of business combinations under common control, including the meaning of common control. The IASB also tentatively decided to give priority to considering transactions that involve third parties, for example those undertaken in preparation for an initial public offering. This is an area of particular concern for securities regulators.

Other developments

March 2018 

On March 23, 2018, the IASB® staff updated the work plan to indicate that the Board expects to issue a Discussion Paper in the first half of 2019.

September 2017

On September 22, 2017, the IASB staff updated the work plan to indicate that the IASB expects to issue the Discussion Paper in the 2nd half of 2018.

June 2017

In June 2017, the IASB staff updated the work plan to indicate that the IASB expects to issue a Discussion Paper in the 1st  half of 2018.

March 2017

On March 23, 2017, the IASB staff issued an updated Work Plan which indicates that the IASB expects to publish a Discussion Paper in respect of this project for comment after September 2017.

December 2016

On December 15, 2016, the IASB staff updated the Work Plan in respect of this project to indicate that the IASB expects to publish a Discussion Paper for comment after June 2017.

September 2016

On September 23, 2016, the IASB staff updated the Work Plan in respect of this project to indicate that the IASB expects to publish a Discussion Paper for comment sometime after March 31, 2017.

July 2016

On July 20, 2016, the IASB staff updated the Work Plan in respect of this project to indicate that the IASB expects to publish a Discussion Paper for comment sometime after January 31, 2017.

April 2016

On April 22, 2016, the IASB updated its Work Plan in respect of this project to note that has begun discussions and the next step is likely to be a DP.

November 2015

On November 23, 2015, the IASB updated its Work Plan in respect of this project to note that IASB discussions about the staff findings from the 2015 research are expected to commence early in 2016 and the next step is likely to be a DP later in 2016.

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