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.

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