IFRIC Update – June 14-15, 2022

Start date:

End date:

Location: London

On June 20, 2022, the IFRS In­ter­pre­ta­tions Com­mit­tee re­leased a sum­mary of its June 14-15, 2022 meet­ing.

The fol­low­ing items were dis­cussed:

Committee's tentative agenda decisions

  • Multi-currency Groups of Insurance Contracts (IFRS 17, Insurance Contracts and IAS 21, The Effects of Changes in Foreign Exchange Rates)

Agenda decisions for the IASB's consideration

  • Cash Received via Electronic Transfer as Settlement for a Financial Asset (IFRS 9, Financial Instruments)
  • Negative Low Emission Vehicle Credits (IAS 37, Provisions, Contingent Liabilities and Contingent Assets)
  • Special Purpose Acquisition Companies (SPAC): Classification of Public Shares as Financial Liabilities or Equity (IAS 32, Financial Instruments: Presentation)
  • Transfer of Insurance Coverage under a Group of Annuity Contracts (IFRS 17, Insurance Contracts)

Other matters

  • Consolidation of a Non-hyperinflationary Subsidiary by a Hyperinflationary Parent (IAS 21, The Effects of Changes in Foreign Exchange Rates and IAS 29, Financial Reporting in Hyperinflationary Economies)
  • Work in Progress

Re­view the IFRIC Up­date and pod­cast on the In­ter­na­tional Ac­count­ing Stan­dards Board's Web site.

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