We support enlarging IFRIC to 14 members

  • Deloitte Comment Letter Image

28 Jul 2007

Deloitte has submitted a Letter of Comment to the Trustees of the IASC Foundation supporting their Proposal to increase the size of the International Financial Reporting Interpretations Committee from 12 to 14 voting members.

In doing so, we agree with the Trustees that the IFRIC would benefit from a greater diversity of members with practical experience in the application of IFRSs and analysis of financial reports using IFRSs. Our letter notes our concern that enlarging the IFRIC may have some adverse effects on its work. However we are aware that the IFRIC has more staff resources than it had historically and note that the IASCF's 2008 budget reiterates the Trustees' commitment to ensuring that the IFRIC 'has the capacity to respond to interpretation issues in an efficient manner'. Consequently, we are willing to accept the Trustees' assessment that, within reason, any effect on the IFRIC's efficiency should be outweighed by the benefit of greater participation by preparers and users of IFRS financial reports.
Click to view our Letter of Comment to the Trustees of the IASC Foundation (PDF 108k). Click here for links to all Past Deloitte Comment Letters to IASC, IASB, SIC, IFRIC, and the IASCF.


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