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.