Deloitte letter of comment on IFRIC D5

  • Deloitte Comment Letter Image

14 May 2004

We have posted Deloitte's Applying IAS 29 Financial Reporting in Hyperinflationary Economies for the First Time.

We concur with the consensus reached on the three issues dealt with by the Draft Interpretation. Regarding the issue of how an entity should account for opening deferred tax, we believe IFRIC should consider whether a portion of the restatement of a comparative period should be reflected as part of the net monetary adjustment as opposed to the tax line. You will find all Past Deloitte Letters to IASB here.

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