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      Companies applying IFRS® Accounting Standards are required to reflect the explanatory material included in final agenda decisions made by the IFRS Interpretations Committee.

      The issues discussed by the Committee are significant, so the potential impact of any resulting accounting policy changes on your company’s financial statements could be material – and any such changes may need to be made in your next financial statements.

      Here we track some of the key issues discussed and provide more background on the role and authority of the Committee.

      Video briefings

      A video series with Brian O’Donovan, summarising key discussions at the IFRS Interpretations Committee

      IFRIC meeting

      Agenda item

      Transcript

      Status

      November 2024Identifying hyperinflationary economiesTranscriptTentative – see IFRS – IFRIC Update March 2025
      July 2024Segment reportingTranscriptFinal – see IFRS – IFRIC Update June 2024
      March 2024Climate-related commitments | Accounting for net zero (part two)TranscriptFinal – see IFRS – IFRIC Update March 2024

      December 2023

      Climate-related commitments | Accounting for net zero (part one)

      Transcript 

      Final – see IFRS – IFRIC Update March 2024

      November 2022

      Definition of a lease and substitution rights

      Transcript 

      Final – see IFRS – IFRIC Update March 2023

      June 2022

      Electronic payments

      Transcript 

      Not finalised – IASB to explore narrow-scope standard setting – see  IFRS – IASB and joint IASB–FASB Update September 2022

      March 2022

      SPAC transactions

      Transcript 

      Final – see IFRS – IFRIC Update September 2022

      February 2022

      Does an emissions scheme create an obligation?

      Transcript 

      Final – see IFRS – IFRIC Update June 2022

      June 2021

      Wind farm energy

      Transcript 

      Final – see IFRS – IFRIC Update November 2021

      April 2021

      Classification of debt as current or non-current

      Transcript 

      Amendments to IAS 1 issued – see KPMG article

      March 2021

      Cloud computing

      Transcript 

      Final – see IFRS – IFRIC Update March 2021

      February 2021

      Going concern, inventory valuation and sale and leaseback

      Transcript 

      Going concern and inventory valuation: Final – see IFRS – IFRIC Update June 2021

      Sale and leaseback: Referred to the IASB and did not proceed further

      December 2020

      Reverse factoring, cloud computing and classification of debt

      Transcript 

      Reverse factoring: Final – see IFRS – IFRIC Update December 2020

      Cloud computing: Final – see IFRS – IFRIC Update March 2021

      Classification of debt: Amendments to IAS 1 issued – see KPMG web article

      About IFRIC agenda decisions

      Companies need to engage with IFRIC discussions
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