This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

EFRAG recommends postponing the endorsement process on IAS 28/IFRS 10 amendments due to an identified conflict with IAS 28

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

19 Feb 2015

The European Financial Reporting Advisory Group (EFRAG) has recommended to the European Commission to postpone the endorsement process on the amendments to IFRS 10 and IAS 28 regarding the sale or contribution of assets between an investor and its associate or joint venture until the IASB has addressed an identified conflict with IAS 28.

On 11 September 2014, the IASB issued Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and IAS 28). Subsequently, EFRAG identified a conflict of the amendments with IAS 28 Investments in Associates and Joint Ventures and notified the IASB of the conflict. The IASB has acknowledged the conflict and discussed the issue at its January 2015 meeting. The Board members tentatively decided to:

  • clarify the requirements of IFRS 10 and IAS 28 to address the conflict;
  • to do so in the forthcoming ED on another amendment to IAS 28 regarding the elimination of gains or losses arising from transactions between an entity and its associate or joint venture; and
  • to propose a postponement of the effective date of the September 2014 amendments so that the effective date of the clarification to be included with the forthcoming ED and the September 2014 amendments are the same.

In light of these developments, EFRAG has recommended to the European Commission to postpone the endorsement process relating to the amendments to IFRS 10 and IAS 28 until the project on Elimination of gains or losses arising from transactions between an entity and its associate or joint venture is completed. Please click for the letter to the Commission on the EFRAG website. EFRAG has updated its endorsement status report accordingly.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.