September 2021 IFRIC Update available
24 September 2021
The IFRS Interpretations Committee met on 14-15 September 2021. The meeting update is now available.
The Committee discussed the following matters and tentatively decided not to add standard-setting projects to the work plan.
- Demand Deposits with Restrictions on Use (IAS 7 Statement of Cash Flows)
- Cash Received via Electronic Transfer as Settlement for a Financial Asset (IFRS 9 Financial Instruments)
Comments on the above tentative agenda decisions may be submitted by 25 November 2021.
The Committee considered the feedback on the following tentative agenda decisions published in March 2021 IFRIC Update.
- Non-refundable Value Added Tax on Lease Payments (IFRS 16 Leases)
- Accounting for Warrants that are Classified as Financial Liabilities on Initial Recognition (IAS 32 Financial Instruments: Presentation)
The Committee reached its conclusion on the above agenda decisions. The IASB will consider these agenda decisions at its October 2021 meeting and if it does not object to the agenda decisions, the decisions will be published in October 2021 in an addendum to this IFRIC Update.
The Committee also discussed the IASB’s project - Lease Liability in a Sale and Leaseback. Committee members provided advice on the project’s direction after considering the feedback on the related exposure draft.
The IFRIC Update may be accessed here.