Altimax
GRAP 106 - Transfer of functions not under common control
GRAP 106 - Transfer of functions not under common control
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Imagine a new government agency being set up to take over services previously delivered by another entity, but the same authority does not control the two. This requires clear rules for how resources and obligations are transferred. That is where GRAP 106 comes in.
GRAP 106 guides transfers of functions between entities not under common control. It ensures that such transfers are recognised and measured fairly, reflecting the resources exchanged. This supports accountability when entities outside the same authority reallocate responsibilities.
For example, when a municipal function is transferred to a newly established regional entity, GRAP 106 ensures that the assets and liabilities are measured at fair value to reflect the new reality. This standard supports transparency and public confidence in managing resources across different authorities.
What you will learn
By the end of this course, you will be able to:
- Identify a transfer of functions between entities that are not under common controls.
- Explain the account treatment for a transfer of functions between entities that are not under common control by the acquirer.
- Explain the relevant disclosure requirements in the financial statements of the acquirer.
Important information
Please take note of the following important details regarding your course access and certification:
- Certificates will be issued on the date of successful completion of the assessment and will reflect that date.
- Course access is valid for 12 months, after which the course will close.
- No updates will be made to the course during the 12-month access period. If updates become available, they will be released in a new course available for purchase on our website.
- For the Altimax terms and conditions, please refer to our website.
