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12/02/2016 - Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture – letter to the European Commission

​EFRAG has sent a letter to the European Commission after IASB published revised amendments to IFRS 10 and IAS 28: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture postponing their effective date indefinitely. In this letter, EFRAG brings a number of issues to the European Commission’s attention before it takes a decision on the endorsement process on the two published amendments to IFRS 10 and IAS 28.


December 2015, the IASB published Effective Date of Amendments to IFRS 10 and IAS 28 (“the 2015 Amendments”) which deferred indefinitely the effective date of Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and IAS 28) (“the 2014 Amendments”) by removing the original effective date of 1 January 2016 and indicating that a new effective date would be determined at future date when the IASB finalises the revisions, if any, that would result from the research project on equity method.

In the letter, EFRAG brings a number of issues to the European Commission’s attention before it takes a decision on the endorsement process of the two amendments and highlights that whether the amendments are endorsed or not in Europe, entities will still be able to claim compliance with IFRS as issued by the IASB.