To help assess whether its new standards and major amendments are working as intended, the IASB conducts post-implementation reviews as part of its due process.
In line with this practice, the IASB has issued a request for information (RfI) on IFRS 3 Business Combinations. Published on 30 January 2014, this latest RfI seeks formal feedback from constituents on practical issues, and focuses on:
- the usefulness of the accounting and disclosure requirements – especially for users such as investors, analysts and creditors
- the challenges in applying the requirements – for preparers, valuation specialists, auditors, standard setters and regulators.