Deloitte comment letter on ED/2011/5 'Government Loans — Proposed amendments to IFRS 1'

Published on: 14 Dec 2011

Deloitte's IFRS Global Office has submitted a letter of comment to the International Accounting Standards Board (IASB) on its Exposure Draft ED 2011/5, Government Loans — Proposed amendments to IFRS 1. We agree that first-time adopters should have the same transitional relief as existing preparers in applying the 2008 IAS 20 amendments. However, we suggest that draft paragraph B10 should be amended to make it clear that the proposed exemption applies only to the requirements of IFRS 9 and IAS 20 insofar as they relate to the grant element of government loans at below market rate.


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