IASB: Proposed amendment to IAS 40 and proposed annual improvements

19 November 2015

The IASB published for public comment two EDs covering a proposed narrow-scope amendment to the investment property Standard, and proposed amendments to three other IFRSs as part of the IASB’s annual improvements process.

The IASB has today published the ED Transfers of Investment Property (Proposed amendment to IAS 40).  This proposes a narrow-scope amendment to IAS 40 Investment Property to clarify the guidance on transfers to, or from, investment properties.

The proposals are open for public comment until 18 March 2016. 

The IASB has a streamlined process for dealing efficiently with issues related to inconsistencies in the application of Standards and where there is a need to clarify the wording in a Standard.  This entails combining a collection of proposed narrow-scope amendments into annual improvement cycles and exposing them for public comment collectively.

The ED now published for comment is on the Annual Improvements to IFRSs 2014-2016 Cycle, covering proposed amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 12 Disclosure of Interest in Other Entities and IAS 28Investments in Associates and Joint Ventures.

The proposals are open for public comment until 17 February 2016.

Press release

Transfers of Investment Property 

Annual Improvements to IFRSs 2014-2016Cycle

© IASB - International Accounting Standards Board