IFRIC Update: Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies

Date recorded:

At its meeting in February 2005, the IFRIC decided to issue its Interpretation Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies, subject to additional clarification and editorial changes.

The final Interpretation as approved by the IFRIC was tabled, and the IASB approved it subject to certain additional clarifications and editorial changes.

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