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Deloitte comment letter on IFRIC D8

  • Deloitte Comment Letter Image

11 Sep 2004

We have submitted our letter of comment on IFRIC Draft Amendment D8 Members' Shares in Co-operative Entities.

Click to (PDF 53k). Deloitte's overall view:

We believe the draft Interpretation is an appropriate and practical interpretation of IAS 32 Financial Instruments: Disclosure and Presentation and support its issuance. We note the draft Interpretation addresses two significant matters of principle – adopting a portfolio approach (BC14-BC16) and reclassification (BC17). While we are cautious about the ramification such an interpretation may have when applied by analogy, we note that these issues are currently being addressed in the IASB's project on the distinction between debt and equity. Pending further consideration by the IASB, we believe the IFRIC's approach is appropriate under current IFRS.

You will find all past Deloitte comment letters to IASB/IASC Here.

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