EFRAG final letter on IFRIC 9 and IFRIC 16

03 March 2009

EFRAG believes that acquisitions of associates should be excluded from the scope of IFRIC 9. With regard to IFRIC 16 the effective date requirements for this amendment need further clarification.  

EFRAG has finalised its comment letter on the IASB’s ED of proposed amendments to IFRIC 9 Reassessment of Embedded Derivatives and IFRIC 16 Hedges of a Net Investment in a Foreign Operation and submitted its letter to the IASB.

EFRAG believes that acquisitions of associates should be excluded from the scope of IFRIC 9. However, it agrees that the amendment should be applied prospectively for annual periods beginning on or after 1 July 2009.

Also with regard to IFRIC 16 the effective date requirements for this amendment need further clarification.
 

The final letter is attached below.

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