The International Accounting Standards Board (IASB) today published for public comment an Exposure Draft of a proposed narrow-scope amendment to IFRS 11 Joint Arrangements.

IFRS 11 does not give explicit guidance on the accounting for acquisitions of interests in joint operations. The objective of the proposed amendment is to add new guidance to IFRS 11 on accounting for the acquisition of an interest in a joint operation in which the activity of the joint operation constitutes a business, as defined in IFRS 3 Business Combinations.