Global Standards for the world economy

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IFRS IC requested that staff prepare an agenda rejection

 21 March 2013

The Interpretations Committee received a request for clarification about IFRS 10. The query relates to protective rights and the effect of those rights on the power over the investee. More specifically, the submitter asked whether the control assessment should be reassessed if protective rights become exercisable, typically on the breach of a covenant in a borrowing arrangement that gives rise to a default, or whether protective rights can never affect an assessment of control.

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