September 2014 IFRS Interpretations Committee meeting notes
23 Sep 2014
The IFRS Interpretations Committee met in London on 16–17 September 2014. We've posted the Deloitte observer notes from the meeting. The Committee (1) continued its discussion on a number of issues related to IFRS 5, IFRS 11, IAS 12, IFRIC 14 and the Conceptual Framework; and (2) considered new issues on IFRS 12, IFRS 13, IAS 28, IAS 39 and IFRIC 21.
The topics discussed were as follows (click through to access detailed Deloitte observer notes for each topic):
TUESDAY, 16 SEPTEMBER 2014 (13:00-17:05)
Items for continuing consideration
- IFRS 11 – Classification of joint arrangements
- IFRS 5 – Non-Current Assets Held for Sale and Discontinued Operations
- Cover note
- Summary of the issues
- Other IFRS 5 issues that the IASB had previously considered but not addressed
- Feedback from former IASB staff and members
- Further analysis using complex fact patterns
- Considerations of next steps
- IAS 12 – Measurement of income tax on uncertain tax positions
- IFRIC 14 – Availability of refunds from a defined benefit plan managed by an independent trustee
- Conceptual Framework – Transition requirements for the revised Conceptual Frameworks
Administrative session
WEDNESDAY, 17 SEPTEMBER 2014 (9:00-11:45)
New items
- IFRIC 21 – Levy on PPE of service provider
- IAS 28 – Assessment of fund manager's significant influence over funds
- IFRS 12 – Disclosures for a subsidiary with a material non-controlling interest and for a material joint venture or associate
- IAS 39 – Accounting for embedded foreign currency derivatives in host contracts
- IFRS 13 – The Fair Value Hierarchy – Using quoted prices provided by third parties
