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We comment on four IFRS Interpretations Committee tentative agenda decisions

  • Deloitte document (mid gray) Image

15 May 2019

We have published our comment letters on IFRS Interpretations Committee tentative agenda decisions related to IAS 19, IFRS 15, IFRS 16, and cryptocurrencies, as published in the March 2019 IFRIC Update.

More in­for­ma­tion about the issues is set out below:

Issue

Agenda decision supported?

More in­for­ma­tion

IAS 19 — Effect of a potential discount on plan classification

Yes; we agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda for the reasons set out in the tentative agenda decision, however we do not believe that the tentative agenda decision adequately identifies the principles applicable to an analysis of the fact pattern. In addition, we do not believe that the terms and conditions of the plan as presented in the tentative agenda decision are sufficiently detailed to permit a conclusion on the classification of the plan as a defined contribution plan or defined benefit plan.

o Deloitte comment letter

o Committee dis­cus­sion

IFRS 15 — Costs to fulfil a contract

Yes.

o Deloitte comment letter

o Committee dis­cus­sion

IFRS 16 — Subsurface rights

Yes.

o Deloitte comment letter

o Committee dis­cus­sion

Cryptocurrencies

Yes; we agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda for the reasons set out in the tentative agenda decision, but believe that the usefulness of the agenda decision could be enhanced by addressing two recurring issues related to cryptocurrencies that are accounted for under IAS 38. We also note that the tentative agenda decision highlights the poor definition of cash provided in IFRS Standards.

o Deloitte comment letter

o Committee dis­cus­sion

Click to access all our comment letters to the IASB, IFRS Foun­da­tion, and IFRS In­ter­pre­ta­tions Committee.

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