IFRIC work in progress

The IFRIC Co-ordinator updated the IFRIC on the current working plan of the IFRIC. It was noted that the IFRIC's project on derecognition of financial instruments is halted due to staff shortage. The IFRIC Co-ordinator also noted that the staff plans to prepare a paper on 'regulatory assets/liabilities' for consideration as an agenda item.

The draft Interpretations D21 Real Estate Sales and D22 Hedges of a Net Investment in a Foreign Operation will be brought back at the May IFRIC meeting while the comment letter analyses for draft Interpretations D23 Distributions of Non-cash Assets to Owners and D24 Customer Contributions will be discussed at the July IFRIC meeting.

Finally, the tentative agenda decision on IAS 19 Employee Benefits — Settlements (see notes) will be reviewed at the May IFRIC meeting.