• Service: Audit, Financial Statement Audit, Financial Reporting & Accounting Standards, Accounting Advisory Services, International Financial Reporting Standards (IFRS), Topics, Business Reporting, Financial Reports
  • Type: Regulatory update
  • Date: 31/01/2014

IFRS In the Headlines

IFRS In the Headlines
In the Headlines (formerly IFRS Briefing Sheets) provide a timely update on International Financial Reporting Standards (IFRS) developments.

Review of business combinations accounting (2014/02) 

This In the Headlines looks at IFRS 14 – the IASB's interim guidance on accounting for regulatory deferral accounts by first-time adopters of IFRS.
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    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.