DO1 Mr Ochi voted against the publication of Long-term Interests in Associates and Joint Ventures (Amendments to IAS 28). The reasons for his dissent are set out below.

DO2 Mr Ochi believes that interests in an associate or joint venture should be subject to either the requirements in IFRS 9 or the requirements in IAS 28, but not both. Accordingly, he disagrees with amending IAS 28 without also specifying the types of interests in an associate or joint venture that an entity accounts for using the equity method, and the types of interests in such entities that an entity accounts for applying IFRS 9.

DO3 Mr Ochi notes that the amendments would result in ‘dual application’ of accounting requirements to the same asset, which he thinks is contrary to basic principles of accounting standards. He believes that such dual application of accounting requirements might result in double counting and, therefore, could undermine the quality of financial statements.