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.

We comment on six IFRS Interpretations Committee tentative agenda decisions

  • Deloitte document (mid gray) Image

22 Nov 2018

We have published our comment letters on IFRS Interpretations Committee tentative agenda decisions related to IAS 27, IAS 37, IFRS 9, IFRS 11, and IFRS 15, as published in the September 2018 IFRIC Update.

More information about the issues is set out below:

Issue

Agenda decision supported?

More information

IAS 27 — Investment in a subsidiary accounted for at cost — partial disposal

Yes; although we do not find the analogies to IAS 28 Investments in Associates and Joint Ventures and to the investment entity requirements of IAS 27 persuasive in terms of the recognition of any difference between cost and fair value when IFRS 9 Financial Instruments is first applied

IAS 27 — Investment in a subsidiary accounted for at cost — step acquisition

Yes

IAS 37 — Payments relating to taxes other than income tax

Yes

IFRS 9 — Application of the highly probable requirement in a cash flow hedge relationship

Yes

IFRS 11 — Liabilities in relation to a joint operator’s interest in a joint operation

Yes; however, we believe additional clarity could be added by specifying that (a) in the circumstances described in the tentative agenda decision, the lead operator has primary responsibility for the lease liability; and (b) the Committee did not opine on the accounting for any contractual arrangements which may exist between joint operators in respect of a leased asset.

IFRS 15 — Assessment of promised goods or services

Yes 

Click to access all our comment letters to the IASB, IFRS Foundation, and IFRS Interpretations Committee.

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.