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Deloitte comment letter on tentative agenda decision on IFRS 3 — identification of the acquirer in accordance with IFRS 3 and the parent in accordance with IFRS 10 in a stapling arrangement

Published on: 07 Apr 2014

We have commented on the IFRS Interpretations Committee tentative decision not to take onto the Committee’s agenda a request for clarification of the interaction of the requirements in IFRS 3 for identifying an acquirer with the requirements in IFRS 10 for deciding whether control exists. Specifically whether an acquirer identified for the purpose of IFRS 3 (2008) is a parent for the purpose of IFRS 10 in circumstances in which a business combination is achieved by contract alone.

Whilst we concur with the Interpretations Committee’s observation that there is currently little diversity in practice for the accounting for business combinations achieved by contract alone, we do not believe that the Interpretations Committee has adequately addressed the issue raised by the submitter.

Download the full comment letter below.


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