IFRIC Update – November 29, 2022

Start date:

End date:

Location: London

On December 7, 2022, the IFRS Interpretations Committee released a summary of its November 29, 2022 meeting.

The following items were discussed:

Committee's tentative agenda decisions

  • Definition of a Lease—Substitution Rights (IFRS 16 Leases)

Matters recommended for the IASB’s annual improvements

  • Terminology update (IFRS 1 First-time Adoption of International Financial Reporting Standards)
  • ’De facto agent’ assessment (IFRS 10 Consolidated Financial Statements)
  • Terminology update (IFRS 9 Financial Instruments)
  • Terminology update (IAS 7 Statement of Cash Flows)
  • Reference update (IFRS 7 Financial Instruments: Disclosures)
  • Implementation guidance (IFRS 7 Financial Instruments: Disclosures)

Other matters

  • Post-implementation Review of IFRS 15 Revenue from Contracts with Customers
  • Work in Progress

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

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