The International Accounting Standards Board (IASB) has published amendments to IAS 28 ‘Investments in Associates and Joint Ventures’. The amendments clarify that companies account for long-term interests in an associate or joint venture-to which the equity method is not applied-using IFRS 9 'Financial Instruments'. This includes long-term interests that, in substance, form part of the entity's net investment in an associate or joint venture.

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