Exposure Draft: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Proposed amendments to IFRS 10 and IAS 28) - Exposure Draft and comment letters
On 13 December 2012 the International Accounting Standards Board (IASB) published for public comment an Exposure Draft of proposed narrow-scope amendments to IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures (2011).
The objective of the proposed amendments is to address an acknowledged inconsistency between the requirements in IFRS 10 and those in IAS 28 (2011), in dealing with the sale or contribution of a subsidiary. The main consequence of the proposed amendments is that a full gain or loss would be recognised on the loss of control of a business (whether it is housed in a subsidiary or not), including cases in which the investor retains joint control of, or significant influence over, the investee.
The issue originated from a submission to the IFRS Interpretations Committee. As a result, the Interpretations Committee recommended that the IASB should amend IFRS 10 and IAS 28 (2011).
Comment letters
The Exposure Draft is open for comment until 23 April 2013.
All comment letters should be submitted via the online upload page below. Please refrain from sending comment letters to IASB or IFRS Foundation individuals as this risks duplication and may cause delays in the posting of letters onto the ifrs.org website. Board and staff members have access all comment letters submitted via the online upload page. You must be a registered eIFRS user to submit a comment letter. Registration is free, and you can register here (registration is free).
Submit a comment letter.
You must be a registered eIFRS user to submit a comment letter - if you need to register, please click here. (Registration is free.)
Please note: when submitting a comment letter or when communicating with the IFRS Foundation, the IASB or any of its constituent bodies, you acknowledge and accept the IFRS Foundation Written Communication policy which details how we use and process your data.
View the comment letters.