EXPOSURE DRAFT ON INVESTMENT ENTITIES

摘要

ABC is a wholly-owned subsidiary of a UK based media group (XYZ). ABC has been set up as an 'incubator fund' to develop new-media businesses, and it has no substantive activities other than making and managing multiple investments ('the investees'). The investments are managed by a third-party specialist manager. Some of these investments are controlled by ABC. Under IFRS, XYZ consolidates ABC, including all of its subsidiary investments. The directors of XYZ are wondering: will the new IASB exposure draft (ED) on investment entities issued in August 2011 allow them to change this treatment?