IFRS Interpretations Committee Agenda Decision

The submitter's concern is that the disclosure in paragraph 51 of IAS 41 may, in their view, be contributing to an unacceptable application of the market approach valuation technique for biological assets.

The Interpretations Committee noted that paragraph 51 of IAS 41 addresses disclosures, not measurement, and that the guidance on measuring fair value is contained within IFRS 13 Fair Value Measurement, which is not affected by paragraph 51 of IAS 41.

Consequently, the Interpretations Committee decided not to recommend that the Board should address this issue through Annual Improvements.