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Amendments to IAS 41 – Bearer Plants

Date recorded:

The project manager opened the session by stating that the IASB had finished its discussions on bearer plants in the March 2014 meeting. She pointed out that the necessary due process work and additional work had been carried out as described in the agenda paper. She asked the Board if they agreed and whether the staff could begin the balloting process for the final amendments without re-exposure. The Board agreed.

The project manager then asked the Board members if any of them intended to dissent from the final standard. One Board member said that it was highly probably that he will dissent. Another Board member said that she had dissented from the exposure draft and since nothing had changed since then, she also intended to dissent from the final standard.

The project manager then asked whether the Board agreed with the proposed effective date of 1 January 2016 with early adoption permitted. The Board agreed.

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