September 2022 IFRIC Update published

The IFRS Interpretations Committee (Committee) met on 13 September 2022. The IFRIC Update of the meeting is now published.

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

• Multi-currency Groups of Insurance Contracts (IFRS 17 Insurance Contracts and IAS 21 The Effects of Changes in Foreign Exchange Rates)
• Special Purpose Acquisition Companies (SPAC): Accounting for Warrants at Acquisition
• Lessor Forgiveness of Lease Payments (IFRS 9 Financial Instruments and IFRS 16 Leases)

The Committee discussed the IASB’s Lack of Exchangeability project, which proposes to amend IAS 21 The Effects of Changes in Foreign Exchange Rates. Committee members provided advice on the project’s direction after considering the feedback on the Exposure Draft.

The IFRIC Update may be accessed here.