CERTYNEX IFRS ACADEMY

Omega SA holds a receivable that it does not legally assign. It nevertheless undertakes to pass on to a third party the cash flows it collects, under an arrangement that meets the three pass-through conditions. Which analysis should be retained?

The contractual rights have expired, so the asset is derecognised without further analysis.

There is an immediate transfer with derecognition of the asset, without assessing the risks and rewards.

There is a transfer: Omega keeps the rights but assumes the obligation to pass on the cash flows.

There is no transfer, since the contractual rights have not been legally assigned.