Differentiating IFRS on this issue is the "idea of future voting rights," which have to be considered in the mix, according to Augustine. Currently, under GAAP, he noted, "you only consider the rights you currently have."

The other tests to be imposed ask "whether the investor has power over the relevant activities of the investor," said Paul Munter, a KPMG partner and IFRS national leader in KPMG's department of professional practice. Beyond that, there are the questions of whether the investor has "exposure to variability in returns" and whether or not there is "a link between the power [of the investor] and returns," he said.

The result, according to Augustine, is "more subjective," with "no definitive gating," and a very subjective" definition of "de-facto power."