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Deloitte comment letter on tentative agenda decision on IAS 7 - Identification of cash equivalents

Published on: 05 Apr 2013

Deloitte Touche Tohmatsu Limited has responded to the IFRS Interpretation Committee’s publication in the January 2013 IFRIC Update of the tentative decision not to take onto the IFRIC’s agenda a request for clarification on the classification of financial assets as cash equivalents in accordance with IAS 7 Statement of Cash Flows.

We agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda for the reasons set out in the tentative agenda decision. However, we note that the reference to a ‘three-month criterion’ in the tentative agenda decision is more definitive than the wording in paragraph 7 of IAS 7 and hence recommend that the wording of the agenda decision be amended.

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