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Administrative session — Work in progress

Date recorded:

The purpose of this session was for the staff to update the Interpretations Committee on the current status of issues that are in progress but that were not to be discussed by the Committee at the November 2015 meeting. 

Open issues

The staff paper listed three open issues that are to be presented at a future meeting: IAS 12.19, Recognition through profit or loss of deferred taxes for temporary differences arising from the effect of exchange rate changes on the tax basis of non-current assets; IAS 16-14, Accounting for proceeds and cost of testing PPE - should net proceeds reduce cost of asset?; and IFRS 11-6, Remeasurement of previously held interests - loss of control.

Issues on hold

IAS 28.13, Assessment of significant influence: fund manager acting as an agent and holding own investment in the fund.

New issues

The staff are analysing three matters that are yet to be presented to the Interpretations Committee:  IAS 39.43 , Derecognition of financial liabilities; IFRS 9.4, Modification/exchange of gains/losses on financial liabilities that do not result in derecognition; and IAS 12.21, Expected manner of recovery for measuring deferred taxes on indefinite life intangible assets

The Committee members were provided with an opportunity to ask any questions or provide any comments with respect to the items in the staff paper.

Interpretations Committee discussion

The Committee members had no questions or comments with respect to the items in the staff paper.

Correction list for hyphenation

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