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IFRIC Update - November 8, 2016

Start date:

End date:

Location: London

On November 23, 2016, the IFRS Interpretations Committee released a summary of its November 8, 2016 meeting.

Items on the current agenda

  • IAS 12, Income Taxes—Uncertainty over Income Tax Treatments—due process steps
  • IFRS 9, Financial Instruments—Modification or exchange of financial liabilities that do not result in derecognition

Item recommended to the Board for Annual Improvements

  • IFRS 9, Financial Instruments and IAS 39 Financial Instruments: Recognition and Measurement—Fees and costs included in the ‘10 per cent’ test for the purpose of derecognition

Interpretations Committee’s tentative agenda decisions

  • IFRS 10, Consolidated Financial Statements—Investment entities and subsidiaries
  • Commodity loans
  • IAS 28, Investments in Associates and Joint Ventures—Fund manager’s assessment of significant influence

Interpretations Committee’s agenda decisions

  • IAS 12, Income Taxes—Expected manner of recovery of intangible assets with indefinite useful lives
  • IAS 32, Financial Instruments: Presentation—Written put options over non-controlling interests to be settled by a variable number of the parent’s shares

Items relating to requirements in recently-issued Standards

  • IFRS 9, Financial Instruments—Effect of symmetric ‘make whole’ and fair value prepayment options on the assessment of the ‘solely payments of principal and interest’ (SPPI) condition
  • IFRS 5, Non-current Assets Held for Sale and IFRS 9, Financial Instruments—Application of IFRS 9 to transactions of a subsidiary when the subsidiary is held for sale

Other matters

  • Post-implementation Review—IFRS 13, Fair Value Measurement
  • Interpretations Committee work in progress update

Review the IFRIC Update on the IASB's Web site.

Related Topics

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