12. October 2017
Today, the IASB published a limited amendment to IAS 28 (Long-term Interests in Associates and Joint Ventures – Amendments to IAS 28). This amendment aims at clarifying how the requirements on impairment shall be applied to long-term interests. In this respect, it was deemed unclear how IAS 28 and IFRS 9 interplay and whether and how long-term interest are in the scope of both standards. This amendment now clarifies, by deleting para. 41 and adding para. 14A, that IFRS 9 also applies to long-term interests.
This amendment shall be initially applied as per 1 January 2019.
The text of this amendment is available at the IASB only subject to a charge. (further Information)