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Administrative session

Date recorded:

IFRS INTERPRETATIONS COMMITTEE WORK IN PROGRESS

The purpose of this agenda paper was to update the IFRS Interpretations Committee on the current status of issues that are in progress but that were not to be discussed by the Committee in the July 2015 meeting.  The Director of Implementation Activities introduced the agenda paper and asked the Committee members whether they had any questions or comments with respect to the items in the agenda paper.

A Committee member inquired as to the status of the draft Interpretations on IAS 12 and IAS 21.  The Director of Implementation Activities responded noting that both draft Interpretations had been taken to the IASB for discussion, the IASB had not raised any issues with them, and that they were currently in the drafting phase and pre-ballot drafts, which would be circulated in due course.

IAS 32 FINANCIAL INSTRUMENTS: PRESENTATION

Classification of liability for prepaid cards issued by a Bank in the Bank’s financial statements

The purpose of this agenda paper was to brief the Committee members on the status of the work being performed by the IASB staff to address the question of the classification of the liability for prepaid cards issued by a bank in the bank’s financial statements and the subsequent accounting for the unspent balance.  The Director of Implementation Activities introduced the agenda paper and asked the Committee members whether they had any questions or comments with respect to the items in the agenda paper.

There were no significant comments.

ADMINISTRATIVE SESSION

Review of the IFRS Interpretations Committee’s activity during January – May 2015

This agenda paper provided an overview of the Interpretations Committee’s activities over recent years, highlighting the numbers and types of activities undertaken and showing how those activities had been evolving.  The Director of Implementation Activities introduced the agenda paper and asked the Committee members whether they had any questions or comments with respect to the report.

There were no comments.

Related Topics

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