IFRIC proposal: Draft amendment to IFRIC 11 and IFRS 2

Date recorded:

At its September 2007 meeting, the IFRIC decided to amend IFRIC 11 IFRS 2- Group and Treasury Share Transactions to clarify that certain share-based payment arrangements are within the scope of IFRS 2 Share-based Payment and to specify how the employee services received by the subsidiary should be measured in its financial statements. In addition, the IFRIC agreed to suggest to the Board (consequential) amendments to IFRS 2 to clarify its scope, particularly paragraph 3 of IFRS 2. (See September 2007 IAS Plus IFRIC Notes).

Subject to editorial comments the Board agreed to the proposed amendments to both IFRIC 11 and IFRS 2 (actual text was not included in the observer notes).

Some Board members noted that it would be better to amend IFRS 2 with consequential amendments to IFRIC 11 rather than the other way round. However, no decision regarding the due process was made at this meeting.

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