In May 2014, the IASB issued Amendments to IFRS 11 Accounting for Acquisitions of Interests in Joint Operations. The guidance amends IFRS 11 so that the acquirer of an interest in a joint operation in which the activity constitutes a business, as defined in IFRS 3, applies all of the principles of business combinations accounting in IFRS 3 and other IFRSs except for those principles that conflict with the guidance in IFRS 11 and discloses the information required by IFRS 3 and other IFRSs for business combinations.

EFRAG has issued its Endorsement Advice and Effects Study Report relating to the Amendments for use in the European Union and European Economic Area.

EFRAG supports the adoption of the Amendments and recommends its endorsement.


Letter to the European Commission