19. November 2015
The IASB today publish a Proposed Amendment to IAS 40 (ED/2015/9 – Transfers of Investment Property). This amendment intends to clarify para. 57, which sets out how and when an asset shall be transferred to or from investment property. So far, para. 57 does not provide for the fact pattern under which an asset is under construction and, while being constructed, there is a change in use. This exposure draft aims at strengthening the principle of para. 57 and making the list of examples non-exhaustive.
Comments on this IASB exposure draft need to be received by 18 March 2016 and should be submitted electronically (IASB press release).