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EFRAG invites comments on the endorsement for use of IFRIC 17 Distributions of Non-cash Assets to Owners.
Issues of the Invitation to Comment are:
Ø its assessment of the Interpretation against the EU endorsement criteria and
Ø its initial assessment of the costs and benefits that would arise from the implementation of the Interpretation in the EU.
IFRIC 17 provides guidance on when to recognise as a liability an obligation to distribute non-cash assets to owners, on which basis to measure that liability initially and at subsequent reporting dates, and how to account for any difference between the amount of the liability and the carrying amount of the assets to be distributed.
Deadline for comments is 1 May 2009.
The document is attached below.