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

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.