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IFRS Interpretations Committee Work in Progress - Agenda paper 11

Date recorded:

Background

The purpose of this session is for the staff to provide an update on the status of issues that are still in progress and will not be discussed at this meeting in September 2016. The Interpretations Committee will not make any technical decision on those matters.

Staff analysis

Ongoing issues

There are no submissions that the Interpretations Committee is working for which an analysis of the issue has not been presented at this meeting.

New issues

Three requests have been received that have yet to be presented to the Interpretations Committee. Those issues relate to (i) IFRS 5: assessment of transactions entered into by a subsidiary when the subsidiary is classified as held for sale; (ii) IFRS 9: impact of symmetric ‘make whole’ and fair value prepayment options on assessment of the solely payments of principal and interest criterion; and (iii) IAS 2: accounting for particular commodity transactions. In addition there are some issues that are still at a preliminary stage of assessment.

Issues on hold

There is an issue related to the assessment of significant influence in circumstances in which a fund manager acts as an agent and holds a direct investment in the fund.

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.