EFRAG's initial considerations included the scope and constructive obligations. It has now expanded its position on the measurement of liabilities involving a service.
EFRAG has supplemented its draft comment letter on the IAS ED Measurement of Liabilities in IAS 37, subsequent to the posting of the working draft of the new IFRS to replace IAS 37. Constituents that have already submitted their replies are welcomed to comment only on the additions
In February 2010 EFRAG issued its draft comment letter on the ED Measurement of Liabilities in IAS 37. Subsequent to the draft comment letter, the IASB has posted on its website the working draft of the new IFRS to replace IAS 37 and extended the deadline to submit comments on the measurement proposals. EFRAG has considered the working draft, and has supplemented the draft comment letter to address concerns on the scope (paragraphs 13-17 of the amended letter), constructive obligations (paragraphs 25-26) and the guidance on uncertainty about existence of present obligation (paragraphs 27-36 of the amended letter). EFRAG has also expanded its position on the measurement of liabilities involving a service (paragraphs 69-81 of the amended letter).
Deadline for comments is 7 May 2010.
© EFRAG - European Financial Reporting Advisory Group
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