Draft Comment Letter published: BCUCC

The UK Endorsement Board (UKEB) has published its Draft Comment Letter on Business Combinations Under Common Control.  The Draft Comment Letter is broadly supportive of the IASB proposals and is now available for stakeholder comment and feedback.  The UKEB welcomes responses, both comprehensive as well as those addressing the following questions:

• Should those who qualify for the book value method be able to elect to use acquisition method accounting instead if they feel this is appropriate?
• Do stakeholders agree with the non-controlling shareholder exemption for private companies?
• When using the acquisition method should the difference between consideration paid and the fair value of assets and liabilities received be accounted for as goodwill?

The UKEB will consider all stakeholder feedback received by 30 June 2021 for inclusion in its final comment letter to the IASB.  Feedback can be sent to BCUCC@endorsement-board.uk

Link to Draft Comment Letter

Link to the Invitation to Comment and the Your Details document:

For more information on the proposals and the UK Endorsement Board’s approach to this project, please see our website: Click here