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At its December 2021 and January 2022 meetings the International Accounting Standards Board (IASB) discussed feedback on the Discussion Paper Business Combinations under Common Control (Discussion Paper). This feedback will help the IASB decide whether and, if so, how to develop detailed proposals based on the preliminary views in the Discussion Paper.

IASB® Update June 2022

The IASB met on 21 June 2022 to discuss its project on Business Combinations under Common Control.

The IASB discussed whether conceptually the acquisition method and/or a book-value method should apply to business combinations under common control. In particular, the IASB discussed:

  1. the similarities and differences between business combinations under common control and business combinations covered by IFRS 3 Business Combinations; and
  2. the types of users of a receiving entity’s financial statements and their information needs compared to those of a business combination covered by IFRS 3.

The IASB was not asked to make any decisions.

Next milestone

Decide Project Direction