IFRS Interpretations Committee – update from last meeting
The IASB staff provided the IASB members with an update from the 5-6 May 2011 IFRS Interpretations Committee (the "Committee") meeting.
The IASB staff highlighted the current agenda of the Committee, tentative agenda decisions, as well as issues considered for annual improvements.
The staff highlighted the anticipated finalisation of the agenda item regarding the accounting for stripping costs in the production phase of a surface mine as part of its next Committee meeting, whereby it is expected that the decision will be brought to the Board during the July 2011 Board meeting. Likewise, the staff highlighted the issues the Committee recommended for inclusion in the Annual Improvements project, which will be formally discussed with the Board at a future meeting.