Request for Information Post-implementation Review: IFRS 3 Business Combinations

The International Accounting Standards Board (IASB) has published a Request for Information (RfI), Post implementation Review: IFRS 3 Business Combinations

The RfI seeks feedback on:

  • whether the Standard provides information that is useful to users of financial statements;
  • whether there are areas of the Standard that represent implementation challenges; and
  • whether unexpected costs have arisen when preparing, auditing or enforcing the requirements of the Standard.

The NZASB is seeking information on the effect of the application of the requirements of any standard based on IFRS 3 Business Combinations (for example, NZ IFRS 3 and PBE IFRS 3).

Comments on the proposals are due to the NZASB by 2 May 2014 and to the IASB by 30 May 2014.

Comments, both formal and informal, can be made to the New Zealand Accounting Standards Board (NZASB) addressed to the Chief Executive, External Reporting Board, PO Box 11250, Manners Street Central, Wellington 6142, or by email to

It would be appreciated if respondents send their comments in electronic form (PDF and Microsoft Word formats) as it allows for efficient collation and analysis of comments. All comments will ultimately be posted on the XRB website unless respondents indicate that they wish their comments to remain confidential.

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