Chartered Institute of Management Accountants,
26 Chapter Street,
London,
SW1P 4NP
Tel:
020 7663 5441
Fax:
020 8849 2468
www.cimaglobal.com
IASB
30 Cannon Street
London
EC4M 6XH
31 July 2009
2009
Dear Sir / Madam
ED/2009/3 Derecognition
The Chartered Institute of Management Accountants (CIMA) is pleased to have the opportunity to
comment on this consultation. CIMA, founded in 1919, is the world’s leading and largest professional
body of Management Accountants, with 171,000 members and students operating at the heart of
business in 165 countries. CIMA is committed to high quality, global, principle-based, neutral financial
reporting standards and supports the widespread adoption of International Financial Reporting
Standards.
We have reviewed the consultation paper and are concerned that the IASB has decided to proceed
with a document that contains so many dissenting views from its own board members. We have
some sympathy with the alternative views expressed and believe that these should be explored
further before the IASB proceeds with this project. We particularly concur with the alternative view
expressed in AV6 relating to the recognition of ‘non-existent’ liabilities
Yours sincerely
Nick Topazio
Charles Batchelor
Nick Topazio
Charles Batchelor
Business & Financial Reporting Specialist,
Financial Reporting Development Group
CIMA
London
Chairman of Financial Reporting Development
Group
CIMA
London
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