EIOPA · 1584

Other

Regulation
Guidelines on recognition and valuation of assets and liabilities other than technical provisions
Article
75
Topic
Other
Submitted
2018-05-02
Answered
2020-03-02
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Question

Can the valuation of tangible assets be used at the cost presented in the financial statements if the value of these assets is 0.2% of total assets, and the company does not apply IAS standards, and tangible assets concern several thousand items whose average value does not exceed EUR 500?

Answer

If the conditions for the derogation of Art. 9 (4) of the Delegated Regulation (EU) 2015/35 are met, the entity can use a valuation practice in accordance with Art. 75 of Directive 2009/138/EC other than IFRS. However, the valuation at cost does not appear to be a market-consistent approach and could only be used if it can be shown that the outcome of the valuation is in line with Art. 75 of Directive 2009/18/EC.
View original on European Insurance and Occupational Pensions Authority ↗

This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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