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Annual Improvements to IFRSs 2015-2017 Cycle - IFRIC

Date recorded:

At its meeting on November 8, 2016, the IFRIC recommended to the IASB that it propose an amendment to clarify the requirements in paragraph B3.3.6 of IFRS 9 and paragraph AG62 of IAS 39 as part of the this Annual Improvements Cycle. Previously, the Committee had received a request to clarify which fees and costs to include in the '10 per cent' test for the purpose of derecognition of a financial liability.  At its September 2016 meeting, the Committee had concluded that when applying paragraphs B3.3.6 of IFRS 9 and AG62 of IAS 39 in carrying out the '10 per cent' test, an entity includes only fees paid or received between the entity and the lender, including fees paid or received by either the entity or the lender on the other's behalf.

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

Correction list for hyphenation

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