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Consolidation and Derecognition Round tables
June 2009
The IASB held round-table discussions in June 2009 on its proposals for consolidation and derecognition of financial instruments in North America (Toronto), Asia (Tokyo) and Europe (London).
About the round table topics
Two separate round tables were held at each location; each session lasted 3 hours:
(a) Round-table discussion 1: Consolidation only
- The round table discussed the Board’s proposals included in ED10 Consolidated Financial Statements published in December 2008.
- In particular, it discussed the most contentious issues raised by respondents to the exposure draft and initial thoughts from staff on potential solutions to address those concerns. The discussions provided input to the Board’s redeliberations of those issues.
- It did not address the consolidation proposals as they relate specifically to entities associated with the derecognition of financial assets (for example, securitisation vehicles).
(b) Round-table discussion 2: Derecognition and consolidation
- This round table was more focussed on the effects of the proposals on financial institutions.
- It discussed the Board’s proposals included in its derecognition exposure draft published in March 2009 together with the Board’s consolidation proposals as they relate to securitisation and other structured entities.
- The round table included some topics that have been discussed in the Consolidation round table, for example, the control principle, agency relationships.
Round table Webcasts
Audio recordings of the June 2009 round tables are now available. To listen to the sessions, please click on the links below:
Consolidation Round Tables
September 2008
The IASB held a series of round-table meetings with interested parties on consolidation. The first meeting took place on Wednesday 17 September 2008 in London, UK.
In response to a recommendation made in the report of the Financial Stability Forum on Enhancing Market and Institutional Resilience, the IASB decided to accelerate its Consolidation project by moving straight to an exposure draft.
The objective of the round tables was to facilitate progress on the project by obtaining public comment at an early stage of the project. The views received in the round table discussions are expected to help the IASB in shaping its forthcoming proposals for creating a single IFRS on consolidation to replace IAS 27 Consolidated and Separate Financial Statements and SIC-12 Consolidation - Special Purpose Entities.
The IASB published an exposure draft for public comment in the December 2008.
An initial staff draft of the exposure draft was presented to the IASB at its meeting in July and was published on the Website as part of the observer notes for that meeting. As a basis for the round table discussions an updated version of the staff working draft will be published shortly before the first round table meeting.
Round table Webcasts
Audio recordings of the round table held on 17 September 2008 are available. To listen to sessions 1 and 2 of the meeting, click on the links below:
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