February 2022 IFRIC Update Published

The February 2022 IFRIC Update has been published, which summarises the meeting of the IFRS Interpretations Committee, which took place on 1 February 2022. At the meeting, the Committee decided to:

• Issue a tentative agenda decision relating to Negative Low Emission Vehicle Credits (IAS 37); and
• Reached its conclusion relating to TLTRO III Transactions (IFRS 9 and IAS 20). The agenda decision will be considered by the IASB at its March 2022 meeting prior to it being finalised in accordance with the Due Process Handbook.

The Committee also received an update on work in progress as well as an educational session on Profit Recognition for Annuity Contracts (IFRS 17), before discussing the submission at its March 2022 meeting.

The full text of the IFRIC update may be accessed here.