Deloitte comment letters on tentative agenda decisions
12 Aug, 2010
Deloitte's IFRS Global Office has submitted letters of comment to the IFRS Interpretations Committee on two tentative agenda decisions:
- Comment letter on tentative agenda decision: IFRS 1 First-time Adoption of International Financial Reporting Standards – Repeat application of IFRS 1 (24k)
- Comment letter on tentative agenda decision: IAS 21 The Effects of Changes in Foreign Exchange Rates – Repayments of investments (24k)
We agree with the decision not to add the IFRS 1 project to the IFRS Interpretation Committee's agenda, and we agree that the IASB should clarify the guidance relating to the repeat application of IFRS 1 as part of its annual improvements project. We understand the reasons for the decision not to include the IAS 21 on the agenda, but we encourage the IASB to include this issue in a future review of IAS 21.
All of our past letters of comment to the IASB are Here.