9 August 2010
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