AIA E-NEWS: FEE PUBLISHES A PAPER ANALYSING PRACTICES REGARDING COMBINED AND CARVE-OUT FINANCIAL STATEMENTS

This article first appeared in the AIA Accountancy e-News, for more information click here.

FEE (Fédération des Experts-comptables Européens – Federation of European Accountants) published Combined and Carve-Out Financial Statements - an Analysis of Common Practices on the preparation of combined and carve-out financial statements in compliance with IFRS.

With this publication on the highly technical and insufficiently explored subject matter of combined and carve-out financial statements, FEE intends to enhance expert debate, knowledge dissemination and sharing of common practices.

This Paper builds on the FEE Discussion Paper Combined Financial Statements issued in 2011, the comment letters received and additional research undertaken by FEE. It summarises the most common issues and challenges encountered when preparing combined and carve-out financial statements in compliance with IFRS as well as the most common practices used to address them.

FEE believes that the Paper could be useful to preparers and other practitioners as well as to standards setters such as the International Accounting Standards Board(IASB), regulators such as, the European Securities and Markets Authority (ESMA), the International Organization of Securities Commissions (IOSCO) and other national regulators such as the US Securities and Exchange Commission (SEC) and academics.

As practice is constantly evolving, the Paper may need updating in the future and comments from stakeholders would be welcomed.

The Paper is available at the FEE website.

This article first appeared in the AIA Accountancy e-News, for more information click here.