Cover paper (Agenda Paper 12)

This paper only listed the agenda papers for this session and was therefore not discussed.

Climate-related Commitments (IAS 37)—Finalisation of agenda decision (Agenda Paper 12A)

At its March 2024 meeting, the IFRS Interpretations Committee (IFRS IC) decided not to add a standard-setting project to the work plan in response to a submission asking it to clarify how IAS 37 applies to commitments an entity makes to reduce or offset its future greenhouse gas emissions (net zero transition commitments). The IFRS IC instead decided to finalise an agenda decision.

The purpose of this paper was to ask IASB members whether they object to the agenda decision.

There was no significant discussion on this paper. No IASB member objected to the agenda decision.

Note: The Due Process Oversight Committee (DPOC) received a complaint in relation to how the IFRS Interpretations Committee finalised this agenda decision. The DPOC decided at its meeting on 21 March 2024 that no breach of due process had occurred. For more information, please see Agenda Paper 2 of the March 2024 DPOC meeting on the IFRS Foundation website.

Payments Contingent on Continued Employment during Handover Periods (IFRS 3)—Finalisation of agenda decision (Agenda Paper 12B)

At its March 2024 meeting, the IFRS IC decided not to add a standard-setting project to the work plan in response to a submission about how, applying IFRS 3, an entity accounts for payments to the sellers of a business it has acquired if those payments are contingent on the sellers’ continued employment during a post-acquisition handover period. The IFRS IC instead decided to finalise an agenda decision.

The purpose of this meeting was to ask IASB members whether they object to the agenda decision.

There was no discussion on this paper. No IASB member objected to the agenda decision.

IFRIC Update March 2024 (Agenda Paper 12C)

This agenda paper reproduces the March 2024 IFRIC Update. IASB members will be invited to ask questions or give comments on the document.

There was no discussion on this paper as IASB members did not have any comments or questions on the IFRIC Update.