IFRIC Update – March 14-15, 2023

Start date:

End date:

Location: London

On March 22, 2023, the IFRS In­ter­pre­ta­tions Com­mit­tee re­leased a sum­mary of this meet­ing.

The fol­low­ing items were dis­cussed:

Com­mit­tee's ten­ta­tive agenda de­ci­sions

  • Guarantee over a Derivative Contract (IFRS 9, Financial Instruments)
  • Premiums Receivable from an Intermediary (IFRS 17, Insurance Contracts, and IFRS 9, Financial Instruments)
  • Homes and Home Loans Provided to Employees

Agenda decisions for the IASB's consideration

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

Mat­ters rec­om­mended for the IASB’s an­nual im­prove­ments

  • Lessee accounting for lease payments forgiven (IFRS 9, Financial Instruments, and IFRS 16, Leases)
  • Disclosure of deferred difference between fair value and transaction price—Guidance on implementing IFRS 7, Financial Instruments: Disclosures

Other mat­ters

  • Business Combinations—Disclosures, Goodwill and Impairment
  • Work in Progress

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

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