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ESMA comment letter on annual improvements 2015-2017

  • ESMA (European Securities and Markets Authority) (dark gray) Image

13 Apr 2017

The European Securities and Markets Authority (ESMA) has issued its comment letter on the IASB’s Exposure Draft, ‘Annual Improvements to IFRS Standards 2015-2017 Cycle’.

ESMA are generally supportive of proposed amendments that would affect three IFRSs: IAS 12 Income Taxes, IAS 23 Borrowing Costs and IAS 28 Investments in Associates and Joint Ventures. However they suggest that the IASB consider introducing additional clarity in the following areas:

  • on how to determine when payments on equity instruments qualify as dividends, in relation to the proposed amendments to IAS 12; and
  • on the definition of long-term interests and the interaction with IFRS 9 Financial Instruments, in relation to the proposed amendments to IAS 28.

The full comment letter is available on the ESMA website.

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