Our comments on IFRIC agenda decision on derecognition

  • Deloitte Comment Letter Image

10 Dec 2006

We have submitted a letter to the IFRIC in response to their November 2006 tentative rejection wording on derecognition of financial assets.

Click to Download Our Letter (PDF 120k). An excerpt:

Overall, we disagree with IFRIC's view that these issues do not require a full interpretation.... Even with the rejection wording we believe there is ambiguity as to how the derecognition guidance works; inconsistency in wording between the IASB Update in September and the IFRIC Update in November; and therefore we would expect further questions to be asked of IFRIC in the future in this area.

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