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Wednesday 26 November 2014

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The Interpretations Committee recommended that the IASB should finalise the proposed amendment to IAS 40

 15 May 2013


Having considered the comments received, the Interpretations Committee recommended that the IASB should finalise the proposed amendment to IAS 40. Specifically, the Interpretations Committee recommended that the proposed amendment should confirm that:

  1. judgement is needed to determine whether the acquisition of investment property is an acquisition of a single asset or of a group of assets, or is a business combination within the scope of IFRS 3; and
  2. this judgement is not based on paragraphs 7-15 of IAS 40 but on the guidance in IFRS 3. The guidance in paragraphs 7-15 of IAS 40 relates only to the judgement needed to distinguish an investment property from an owner-occupied property.

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