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Deloitte comment letter on tentative agenda decision on IAS 8 — Distinction between a change in an accounting policy and a change in an accounting estimate

Published on: Jan 21, 2014

Deloitte's IFRS Global Office has submitted a letter of comment responding to the IFRS Interpretations Committee's tentative decision not to take onto the Committee’s agenda a request for clarification on the distinction between a change in an accounting policy and a change in an accounting estimate.

The letter, which expresses the views of Deloitte's IFRS Global Office only, agrees 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, while we would expect there to be some reason for a change in accounting estimate, we believe that the unsupported statement in the tentative agenda decision that “a change in a method of estimation should only be made if that change produces reliable and more relevant information” should be removed from the agenda decision. We do not believe it is appropriate to extrapolate this from the requirement in paragraph 14 of IAS 8, which applies only to changes in accounting policies.

Download the full comment letter below.


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