IASB votes to explore narrow-scope standard setting related to IFRIC Agenda decision Cash Received via Electronic Transfer as Settlement for a Financial Asset

At its June 2022 meeting, the IFRS Interpretations Committee (Committee) voted to finalise the agenda decision Cash Received via Electronic Transfer as Settlement for a Financial Asset. The agenda decision addresses the recognition of cash received via an electronic transfer system as settlement for a trade receivable. The agenda decision was submitted for IASB’s consideration at its meeting on 20-22 September.

Considering the respondent’s comments to the agenda decision, the IASB Staff recommended that the IASB explore narrow-scope standard-setting. At its September 2022 meeting, the IASB discussed this topic and voted to explore narrow-scope standard-setting. As a result, the agenda decision is not finalised. In future meetings, the IASB staff will provide analysis on the form that any narrow-scope standard-setting would take and the scope of transactions to which it would apply.

The webcast of the IASB meeting may be accessed here.