This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Deloitte comment letter on IFRIC draft Interpretation 2015/2 — Foreign currency transactions and advance consideration

Published on: Jan 19, 2016

We have responded to the IFRS Interpretations Committee's request for comments on IFRIC draft Interpretation 2015/2 Foreign Currency Transactions and Advance Consideration, issued in October 2015.

We recommend that the scope of the draft Interpretation be clarified in respect of (1) the transactions that are intended to be excluded due to a requirement to recognize the related asset, expense or income at the fair value of consideration given measured at a date other than the date of initial recognition of a prepayment or deferred liability; and (2) whether a refundable foreign currency deposit would be outside the scope of the draft Interpretation. Our letter provides detailed responses to the questions in the invitation to comment. 

Download the full comment letter below.


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.