IFRS 10/IAS 28 — Investment entity amendments
Background
This narrow scope project involves a number of potential amendments to IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures (2011) to address issues that have arisen in relation to the exemption from consolidation for investment entities:
- Whether an investment entity parent should account for an investment entity subsidiary at fair value, when the subsidiary provides investment-related services to third parties
- The interaction between the investment entity amendments and the exemption from preparing consolidated financial statements requirements in IFRS 10
- Whether a non-investment entity must ‘unwind’ the fair value accounting of its joint ventures or associates that are investment entities.
Current status of the project
Project milestones
Date | Development | Comments |
---|---|---|
March 2014 | Formally added to the IASB agenda | |
11 June 2014 | ED/2014/2 Investment Entities: Applying the Consolidation Exception (Proposed amendments to IFRS 10 and IAS 28) published |
Comments requested by 15 September 2014 |
18 December 2014
|
Effective for annual periods beginning on or after 1 January 2016, early adoption permitted
|