23-9-2009 | EFRAG has issued its comments letter to IASB ED 2009/11 Improvements to IFRSs 2009

EFRAG has issued its draft comment letter on the IASB's ED 2009/11 Improvements to IFRSs 2009. The letter can be downloaded here. Comments are invited on the draft letter by 1 November 2009.
	The ED proposes amendments to the following standards: IFRS 1, IFRS 3, IFRS 5, IFRS 7, IAS 1, IAS 8, IAS 27, IAS 28, IAS 40 and IFRIC 13. EFRAG agrees with all the changes proposed by the ED except for the amendment to IAS 27 which clarifies that investments in subsidiaries, jointly controlled entities and associates entities should only account for changes in the fair value through profit or loss where the entity has chosen the fair value option.  EFRAG is not convinced that it is appropriate to restrict the choice of accounting available under existing IAS 39 to such investments.
Document : EFRAGs draft letter on the IASBs ED of Annual Improvements.pdf
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