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Deloitte comment letter on the IASB's proposed amendments to IFRS 3 to update a reference to the Conceptual Framework

Published on: 20 Aug 2019

We have responded to the IASB’s exposure draft ED/2019/3 Reference to the Conceptual Framework (Proposed amendments to IFRS 3).

We agree with the proposed amendments to IFRS 3 to replace a reference to an old version of the Conceptual Framework. We also agree with the proposed addition of an exception for the recognition principles in IFRS 3 with respect to liabilities and contingent liabilities in the scope of IAS 37 and of IFRIC 21 and of the clarification of the IFRS 3 requirements for contingent assets. However, we believe that an exception to the recognition principles in IFRS 3 is also required with respect to uncertain current tax positions within the scope of IFRIC 23.

Download the full comment letter below.

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