May 2018 IFRIC Update published
Released 15 May 2018
The International Financial Reporting Standards (IFRS) Interpretations Committee has published its IFRIC Update - May 2018.
The IFRIC Update is a summary of the decisions reached by the IFRS Interpretations Committee in its public meetings. Decisions on an IFRIC Interpretation become final only after the Committee has taken a formal vote on the Interpretation. IFRIC Interpretations require ratification by the International Accounting Standards Board (Board). The Committee met on 9 May 2018, and discussed:
•Foreign exchange restrictions (IAS 21 The Effects of Changes in Foreign Exchange Rates)—Agenda Paper 3
•Payments relating to taxes other than income tax (IAS 37 Provisions, Contingent Liabilities and Contingent Assets)—Agenda Paper 2
•Committee work in progress—Agenda Paper 4
View the IFRIC Update May 2018.