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Administrative session — Review of Committee work in 2012

Date recorded:

The staff provided the Committee with an overview of the Committee's activity over the last four and a half years, including quantitative details of issues addressed in the following categories:

  • interpretations and implementation activities, including areas where an agenda decision was published within the IFRIC Update newsletter
  • work performed on behalf of the IASB, including issues addressed through the Annual Improvements Project and narrow-scope amendments.

The review highlighted an increasing number of issues addressed by the Committee from 2008 to 2010, with a significant level of 2010 issues resulting from Annual Improvements Project considerations. Activity in 2011 and 2012 was relatively consistent.

Two Committee members suggested amendments to the presentation of such statistics in the future: those being (1) no longer distinguishing interpretations activities from work performed on behalf of the IASB given that both are activities performed in accordance with the Due Process Handbook, and (2) outlining the nature of topics discussed (e.g., business combinations) so that trend information was available for purposes of assessing the clarity of individual IFRSs. Committee members generally agreed with both of these recommendations.

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