We comment on a tentative IFRS Interpretations Committee agenda decision

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23 Aug 2022

We have commented on the IFRS Interpretations Committee's publication in the July 2022 'IFRIC Update' of the tentative agenda decision not to take onto the Committee’s agenda the request for clarification on whether an entity considers currency exchange rate risks when applying IFRS 17 to identify portfolios of insurance contracts and how an entity applies IAS 21 in conjunction with IFRS 17 in measuring a group of insurance contracts that generate cash flows in more than one currency.

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 question whether one statement in the tentative agenda decision is consistent with the requirements of IFRS 17.

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