IFRIC Update

Date recorded:

The IFRIC Co-ordinator reported the results of the November IFRIC meeting (Click Here for the IAS Plus report of that meeting). She noted in particular the forthcoming Draft Interpretations on customer contributions and non-cash distributions to owners acting in their capacity as owners. With respect to the latter Draft Interpretation, she explained the background of the issue, the considerable degree of consensus achieved on contentious matters and the one area of considerable disagreement on which an alternative view is being included in the basis for conclusions and highlighted in the invitation to comment. From the immediate reactions of Board members, there seemed to be significant support for the consensus view.

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