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Deloitte comment letter on the IASB's proposal regarding the lack of exchangeability

Published on: Aug 31, 2021

We have commented on IASB exposure draft Lack of Exchangeability (Proposed amendments to IAS 21).

We acknowledge that the use of an official exchange rate may not produce meaningful results when this rate is not available to the entity. However, we do not believe that attempting to estimate the exchange rate that would have been available if the currency had been exchangeable would produce meaningful results either. Accordingly, we believe that the Board should seek a solution that gives precedence to comparability.

This comment letter was released by our Global firm.

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