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Deloitte comment letter on IFRS Interpretations Committee tentative agenda decision: IAS 27/IFRS 10 — Non-cash acquisition of non-controlling interest by a controlling shareholder in the consolidated financial statements

Published on: Nov 28, 2012

Deloitte response to the IFRS Interpretation Committee’s publication in the September 2012 IFRIC Update of the tentative decision not to take onto the IFRIC’s agenda a request for interpretation of whether the difference between the carrying amount and fair value of non-cash consideration for the purchase of a non-controlling interest should be recognised in profit or loss in the controlling shareholders’ consolidated financial statements.

We agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda but note that the reference to IFRSs ‘generally requiring’ recognition of a gain or loss on derecognition of an asset in profit or loss could be enhanced by reference to the specific requirements of paragraph 68 of IAS 16 Property, Plant and Equipment and paragraph 113 of IAS 38 Intangible Assets.

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