9 August 2010
Meeting with REHDA on IC Interpretation 15
The Secretariat held a meeting with REHDA on the implication of IC Interpretation 15 Agreements for the Construction of Real Estate. The application of IFRIC 15 (= IC Interpretation 15) in other jurisdictions were also discussed.
Following the meeting, the next steps to be taken by the secretariat, amongst others were:
• To invite IASB to Malaysia for more inputs;
• To explore positions in other jurisdictions to help MIA; and
• To consider implementation or stress test.
It was also concluded that the following steps were to be taken by the MIA:
• To resolve different legal views and consult Bar council;
• To clarify positions of accounting firms around the globe; and
• To consult the Housing Ministry & House-buyers Associations