Narrow scope amendments

Title Description
IAS 1 — Classification of debt with covenants as current or non-current In response to new information provided on the January 2020 amendments to IAS 1, the Board is looking into amendments to IAS 1 with respect to classification (as current or non-current), presentation and disclosures of liabilities for which an entity’s right to defer settlement for at least 12 months is subject to the entity complying with conditions after the reporting period. An exposure draft of proposed amendments was published on 19 November 2021 with a comment letter deadline of 21 March 2022.
IAS 19/IFRIC 14 — Remeasurement at a plan amendment, curtailment or settlement / Availability of a refund of a surplus from a defined benefit plan A narrow scope project to clarify (a) the calculation of current service cost and net interest an when entity remeasures the net defined benefit liability (asset) when a plan amendment, curtailment or settlement occurs; and (b) whether a trustee's power to augment benefits or to wind up a plan affects the employer's unconditional right to a refund and thus, in accordance with IFRIC 14, restricts recognition of an asset. An exposure draft was published on 18 June 2015 with comment letter deadline 19 October 2015. Amendments to IAS 19 regarding (a) were issued on 7 February 2018. Amendments regarding (b) are still outstanding.
IAS 21 — Lack of exchangeability The IFRS Interpretations Committee received a submission about the determination of the exchange rate when there is a long-term lack of exchangeability as IAS 21 'The Effects of Changes in Foreign Exchange Rates' does not include explicit requirements on the exchange rate an entity uses when the spot exchange rate is not observable. The IASB took the matter over and published an exposure draft of proposed amendments on 20 April 2021 with comments requested by 1 September 2021.
IFRS 16 — Lease liability in a sale and leaseback The IFRS Interpretations Committee received a submission about IFRS 16 'Leases' and a sale and leaseback transaction with variable payments that do not depend on an index or rate and came to the conclusion that it would be beneficial to amend IFRS 16 to specify how a seller-lessee should apply the subsequent measurement requirements in IFRS 16 to the lease liability that arises in the sale and leaseback transaction. The IASB agreed and published an exposure draft of proposed amendments on 30 November 2020 with comments requested by 29 March 2021.
Supplier finance arrangements The Board is looking into the claim that the information entities provide about supplier finance arrangements applying existing IFRS requirements does not meet all investor information needs. An exposure draft of proposed amendments was published on 26 November 2021 with comment requested by 28 March 2022.

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