Deloitte comment letter on ED 'Discontinued Operations'
Deloitte continues to support the convergence efforts of the world’s national accounting standard-setters and the IASB with the objective of developing a set of high quality global accounting standards which command wide acceptance and support. We support the Board’s joint project with the FASB to develop a common definition of and disclosure requirements for discontinued operations.
While we support the convergence objective of this proposed amendment, because of scope differences between IFRS 5 and FASB Statement 144, Accounting for Impairment of Disposal of Long Lived Assets, there will continue to be differences in reporting discontinued operations.