EFRAG issues feedback statement on its draft comment letter for bearer plants

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

13 Nov, 2013

The European Financial Reporting Advisory Group (EFRAG) has issued a feedback statement to summarise the comments received by the EFRAG on its draft comment letter on bearer plants.

In June 2013, the IASB published an exposure draft on bearer plants, which proposed amendments to IAS 16 and IAS 41. In response to the exposure draft, the EFRAG issued a draft comment letter that noted its support for the project and provided several suggestions to improve the proposed amendments. The EFRAG’s feedback statement provides the main comments received from constituents on its draft comment letter. The general consensus from constituents was that the “main principle of IAS 41 was not appropriate for bearer plants and that the cost model or the revaluation model of IAS 16 applied to bearer plants would provide more useful financial information.”

For more details on the feedback statement, please see (links to EFRAG website):

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