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Deloitte comment letter on Tentative Agenda Decision - IAS 28 and IFRS 3 - Associates and common control

Published on: Apr 05, 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 add to the IFRIC’s agenda a request for clarification on the accounting for an acquisition of an interest in an associate or joint venture from an entity under common control.

We agree with the IFRS Interpretations Committee’s decision not to add this item to its agenda for the reasons set out in the tentative agenda decision, but we believe that the tentative agenda decision could be made clearer by:

  • Removing the references to paragraph 32 of IAS 28 and to paragraph 10 of IAS 8 because they could be read as alluding to a conclusion that the Committee has not formally reached. In particular, we do not believe that is clear that paragraph 32 of IAS 28 specifically applies to common control transactions.
  • Referring to diversity in practice in this area as having been indicated by the Committee’s outreach activities rather than simply as a fact.


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