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Deloitte issues comment letter on the supplement to exposure draft on amortised cost and impairment

  • Deloitte Comment Letter Image

01 Apr 2011

Deloitte's IFRS Global Office has submitted a letter of comment on Supplement to Exposure Draft ED/2009/12 'Amortised Cost and Impairment'.

The comment letter expresses Deloitte's views on the IASB and FASB's development of a more operational expected loss model. The following is an excerpt from the letter:

We are generally supportive of an approach that recognises lifetime expected credit losses for performing assets ('the good book') on a time proportional basis with a minimum floor and recognises immediately lifetime expected credit losses for assets that are identified as non-performing ('the bad book') in full…However, we are not supportive of the inclusion of a ‘higher of' test based on an assessment of credit losses expected in the ‘foreseeable future' for assets in the good book.

Click to Download our Comment Letter (PDF 115k). All of our past comment letters are here.

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