IAS 32 — 'Fixed for fixed' condition
The IFRIC resumed its debate on more general 'fixed for fixed' condition in IAS 32. The staff presented a comprehensive overview of questions received on classification of financial instruments divided in two broad categories: foreign currency situations and pre-determined condition situation.
Given a great variety of the questions, differences of views on the scope of the project, and the fact that the IASB expects to issue an exposure draft on Financial Instruments with Characteristics of Equity (FICE) in the second quarter of 2010, the IFRIC decided not to take the project on the agenda. The IFRIC noted that even though the issues represent a major problem in the practice, it is more appropriate that the issue should be in the scope of the FICE project.
