14-3-2009 | EFRAG requests comments on its initial assessments of IFRIC 17 Distributions of Non-cash Assets to Owners against the EU endorsement criteria

EFRAG is today issuing an Invitation to Comment relating to the endorsement for use in the EU of IFRIC 17 Distributions of Non-cash Assets to Owners. It is consulting both on its assessment of the Interpretation against the EU endorsement criteria and on its initial assessment of the costs and benefits that would arise from the implementation of the Interpretation in the EU. Comments are requested by 1 May 2009.
	IFRIC 17 provides guidance on when to recognise as a liability an obligation to distribute non-cash assets to owners, on which basis to measure that liability initially and at subsequent reporting dates, and how to account for any difference between the amount of the liability and the carrying amount of the assets to be distributed.    EFRAG’s initial assessment is that the IFRIC 17 meets the criteria for EU endorsement and that the benefits that will arise from its implementation in the EU are likely to exceed the costs incurred in implementing it.
Document : EFRAGs Invitation to Comment on IFRIC 17 Distributions of Non-cash Assets to Owners - Draft endorsement and Draft effects study report.doc
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