EFRAG issues feedback statement on the IASB's Exposure Draft regarding the unit of account

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

23 Mar, 2015

The European Financial Reporting Advisory Group (EFRAG) has published its feedback statement summarising the main comments received from constituents invited to respond to their draft comment letter in relation to the International Accounting Standards Board’s (IASB’s) Exposure Draft 'ED/2014/4 Measuring Quoted Investments in Subsidiaries, Joint Ventures and Associates at Fair Value'.

The amendments in ED/2014/4 would confirm that the unit of account for investments in subsidiaries, joint ventures and associates is the investment as a whole, but that the fair value measurement of quoted investments in subsidiaries, joint ventures and associates should be the product of the quoted price multiplied by the quantity of financial instruments held, without adjustments.

EFRAG published its draft comment letter in October 2014 and its final comment letter in January 2015. 

The feedback statement (link to EFRAG website) summarises the main comments received by the EFRAG Board in relation to the draft comment letter and explains how those comments were considered by the EFRAG Board reaching their final position on the IASB ED set out in their final comment letter to the International Accounting Standards Board (IASB).  

The press release and full feedback statement are available on the EFRAG website.

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