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Companies applying IFRS® Accounting Standards are required to reflect the explanatory material included in final agenda decisions made by the IFRS Interpretations Committee.

The issues discussed by the Committee are significant, so the potential impact of any resulting accounting policy changes on your company’s financial statements could be material – and any such changes may need to be made in your next financial statements.

Here we track some of the key issues discussed and provide more background on the role and authority of the Committee.

Video briefings

A video series with Brian O’Donovan, summarising key discussions at the IFRS Interpretations Committee

Read the transcript (PDF 268 KB)

IFRIC meeting Agenda item Transcript Status
June 2022 Electronic payments Transcript (PDF 300 KB) Not finalised – IASB to explore narrow-scope standard setting – see  IFRS - IASB and joint IASB–FASB Update September 2022
March 2022 
SPAC transactions Transcript (PDF 242 KB) Final – see IFRS - IFRIC Update September 2022
February 2022 Does an emissions scheme create an obligation? Transcript (PDF 244 KB) Final – see IFRS - IFRIC Update June 2022

June 2021

Wind farm energy

Transcript (PDF 308 KB)

Final – see IFRS - IFRIC Update November 2021

April 2021

Classification of debt as current or non-current

Transcript (PDF 207 KB)

Amendments to IAS 1 issued – see KPMG web article

March 2021

Cloud computing

Transcript (PDF 281 KB)

Final – see IFRS - IFRIC Update March 2021

February 2021

Going concern, inventory valuation and sale and leaseback

Transcript (PDF 217 KB)

Going concern and inventory valuation: Final – see IFRS - IFRIC Update June 2021

Sale and leaseback: Referred to the IASB and did not proceed further

December 2020

Reverse factoring, cloud computing and classification of debt

Transcript (PDF 56 KB)

Reverse factoring: Final – see IFRS - IFRIC Update December 2020

Cloud computing: Final – see IFRS - IFRIC Update March 2021

Classification of debt: Amendments to IAS 1 issued – see KPMG web article