IFRIC Update - March 14-15, 2017

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End date:

Location: London

On March 23, 2017, the IFRS Interpretations Committee released a summary of its March 14-15, 2017 meeting.

Items on the current agenda

  • IFRS 3 Business Combinations and IFRS 11 Joint Arrangements—Previously held interests
  • IAS 19 Employee Benefits—Plan amendments, curtailments or settlements

Committee’s tentative agenda decisions

  • IFRS 1 First-time Adoption of International Financial Reporting Standards—Subsidiary as a first-time adopter
  • IFRS 9 Financial Instruments—Modifications or exchanges of financial liabilities that do not result in derecognition
  • IAS 12 Income Taxes—Interest and penalties related to income taxes
  • IAS 19 Employee Benefits—Discount rate in a country that has adopted another country’s currency
  • IAS 32 Financial Instruments: Presentation—Centrally cleared client derivatives
  • IAS 33 Earnings per Share—Tax arising from payments on participating equity instruments
  • IAS 41 Agriculture—Biological assets growing on bearer plants

Committee’s agenda decisions

  • IFRS 10 Consolidated Financial Statements—Investment entities and subsidiaries
  • IAS 12 Income Taxes—Deferred taxes when acquiring a single-asset entity that is not a business
  • IAS 28 Investments in Associates and Joint Ventures—Fund manager’s assessment of significant influence
  • Commodity loans

Other matters

  • Committee work in progress update
  • Matters reported to the Board

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

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