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IFRIC update

Date recorded:

The Board received an IFRIC update. Notes from IFRIC Meetings are available on IASPlus.

In this session, the Board were presented with a proposed amendment to paragraph 3 of the proposed interpretation on Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies. This amendment clarifies that non-monetary items that have been revalued need only be remeasured from the date of revaluation. The Board voted on and agreed with this amendment.

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.