This issue is based on identifying the relevant activities of the SE. The Interpretations Committee noted that, in an assessment of power made in accordance with IFRS 10, it is necessary to make a careful assessment of the facts and circumstances. It concluded, however, that the principles established within IFRS 10 would enable a determination to be made reliably when all required information is known. The Interpretations Committee further concluded that it did not expect significant diversity in practice to arise following the implementation of the Standard.
Consequently, in November 2014 the Interpretations Committee tentatively decided not to add this topic to the agenda. In its meeting on 24 March 2015, the Interpretations Committee discussed the comment letters received on the two tentative agenda decisions.
The Interpretations Committee noted that two ofthe comment letters received on the tentative agenda decision had highlighted concerns about diversity in practice on this issue. Some members of the Interpretations Committee suggested that it would be helpful to expand the wording of the tentative agenda decisions to include some of the discussion included in paragraph 15 of agenda paper 5 about the assessment required in such circumstances when making conclusions about control.
Accordingly, the Interpretations Committee asked the staff to bring a revised tentative agenda decision for discussion and public re-exposure to a future meeting. On 12 May 2015 the Interpretations Committee decided not to take this topic onto its agenda.