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Agenda and pre-meeting summaries for the March 2016 IFRS Interpretations Committee meeting

  • IFRS IC meeting (blue) Image

11 Mar 2016

The IFRS Interpretations Committee will meet at the IASB's offices in London on 22 March 2016. The agenda for the meeting is now available. We have also posted our pre-meeting summaries for the meeting that allow you to follow the decision making more closely.

The Committee will be considering papers related to 13 topics. Eight of the papers recommend finalising decisions that the Interpretations Committee not take the related matter onto its agenda. Three papers are recommending that the committee issue tentative decisions not to add the matters to the agenda. The remaining two papers are recommending that the Committee develop amendments to standards. 

There seems to be a concerted effort to bring some of the issues that the committee has considered over several meetings to a conclusion. These include accounting for proceeds from testing property plant and equipment (paper 2), pre-paid cards (paper 4), variable consideration on PP&E acquisitions paper 8) and the impairment requirements for long-term interests (paper 15). 

The longest allocated time slots are for the discussions on prepaid cards, for which the staff recommendation is to finalise the agenda decision not to take the matter onto the agenda; the classification of deferred tax on payments related to financial instruments classified as equity, for which the recommendation is to amend IAS 12; and the relationship between IFRS 9 and IAS 28 and how impairment is assessed for long-term interests, for which the recommendation is to issue a tentative decision not to add the matter to the agenda.

There is one new issue, relating to the determination of the expected manner of recovery of indefinite life intangible assets for the purposes of measuring deferred taxes. The recommendation is to not take the matter onto the agenda.

The full agenda for the meeting and our detailed pre-meeting summaries can be found here. We will update this page for any changes to the agenda and our Deloitte observer notes from the meeting as they become available.

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