Have your say on the Post-implementation Review of GRAP 108 (ED 207)

An article on Do you understand the difference between the impairment and derecognition of a statutory receivable? explains the difference between an impairment and derecognition of a statutory receivable.

ED 207 asks the following questions to preparers of financial statements:

• Does GRAP 108 provide clear and sufficient guidance to determine when to derecognise a statutory receivable? Please explain your response.
• Do you have any challenges to distinguish whether statutory receivables should be impaired or derecognised? If yes, please describe and provide examples of these challenges, and indicate how, in your view, they can be resolved.

You may also participate in our roundtable consultations by contacting amandab@asb.co.za.