IFRS Issues IFRS Interpretations Committee Update for September 2018

By Regulatory News

September 20, 2018

IFRS published the IFRS Interpretations Committee (IFRIC) update of its meeting in September 2018. The update offers a summary of the decisions reached by the IFRIC in its public meetings. Decisions on an IFRIC interpretation become final only after the IFRIC has taken a formal vote on the interpretation. IFRIC interpretations require ratification by IASB.

The key topics discussed at the September meeting include the following:

Application of the highly probable requirement when a specific derivative is designated as a hedging instrument under the IFRS 9 on financial instruments and the IAS 39 on recognition and measurement of financial instruments
Classification of a particular type of dual currency bond under IFRS 9
The way an entity might apply existing IFRS standards in determining its accounting for holdings of cryptocurrencies and initial coin offerings.

Keywords: International, Accounting, Banking, IFRS 9, IAS 39, Financial Instruments, Cryptocurrencies, IFRIC, IFRS

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