Deloitte comment letter on tentative agenda decision on SPACs and the classification of public shares as financial liabilities or equity

Published on: 25 May 2022

We have commented on the IFRS Interpretations Committee's publication in the March 2022 IFRIC Update of the tentative agenda decision not to take onto the Committee’s agenda the request for clarification about applying IAS 32 in relation to the classification of shares issued by a special purpose acquisition company (SPAC) as financial liabilities or equity.

We agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda for the reasons outlined in the decision. However, we suggest removing one statement that might be misread.

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