June 2022 IFRIC update published

The IFRS Interpretations Committee met on 14-15 June 2022. 

The Committee issued one tentative agenda decision which will be open for public comment:

• Multi-currency Groups of Insurance Contracts (IFRS 17 Insurance Contracts and IAS 21 The Effects of Changes in Foreign Exchange Rates)

The Committee also concluded on following four agenda decisions, which are sent to the IASB for its consideration at its July 2022 meeting.

• Cash Received via Electronic Transfer as Settlement for a Financial Asset (IFRS 9 Financial Instruments)
• Negative Low Emission Vehicle Credits (IAS 37 Provisions, Contingent Liabilities and Contingent Assets)
• Special Purpose Acquisition Companies (SPAC): Classification of Public Shares as Financial Liabilities or Equity (IAS 32 Financial Instruments: Presentation)
• Transfer of Insurance Coverage under a Group of Annuity Contracts (IFRS 17 Insurance Contracts)

If the IASB does not object to the agenda decisions, they will be published in July 2022 in an addendum to the June 2022 IFRIC Update.

The IFRIC Update may be accessed here.