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The IFRS Interpretation Committee (IFRS IC) published an Addendum to the IFRIC Update September 2022 on 24 October 2022. It contains the following agenda decisions - which were previously pending submission to the IASB and are now final:

Final agenda decisions

  • Multi-currency Groups of Insurance Contracts (IFRS 17 Insurance Contracts and IAS 21 The Effects of Changes in Foreign Exchange Rates)
  • Special Purpose Acquisition Companies (SPAC): Accounting for Warrants at Acquisition
  • Lessor Forgiveness of Lease Payments (IFRS 9 Financial Instruments and IFRS 16 Leases)

The IASB discussed the agenda decisions at its meeting in October 2022 and raised no objections. We reported on the preliminary agenda decisions from September 2022 in Express Accounting News 35/2022. The IASB is expected to implement the agenda decisions in the near future.

The complete IFRIC Update Newsletter including Addendum is available on the IASB website at this link.

KPMG Express Accounting News

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