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Joint Ventures

Date recorded:

At its July 2004 meeting the Board considered a paper in which the staff recommended that:

  • any short-term convergence project on joint ventures should be conducted by the Short-term Convergence project team.
  • the longer-term and more fundamental review of joint venture arrangements should continue to be conducted as a research project by the Joint Ventures research team.

The Board considered the merits of a short-term project intended to eliminate the option in IAS 31 with certain Board members expressing support for the removal of proportionate consolidation as it is not supportable under the Conceptual Framework.

The Board agreed to proceed with this project, which would consider elimination of the option.

The other issues related to the joint venture project would be dealt with in the long-term project.

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Correction list for hyphenation

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