June 2022 IFRS Interpretations Committee Update

IFRIC Update is a summary of the decisions reached by the IFRS Interpretations Committee (Committee) in its public meetings. Past Updates can be found in the IFRIC Update archive.

The Committee met on 14-15 June 2022, and discussed:

Committee's tentative agenda decisions

Multi-currency Groups of Insurance Contracts (IFRS 17 Insurance Contracts and IAS 21 The Effects of Changes in Foreign Exchange Rates)—Agenda Paper 6

Agenda decisions for the IASB's consideration

Cash Received via Electronic Transfer as Settlement for a Financial Asset (IFRS 9 Financial Instruments)—Agenda Paper 3
Negative Low Emission Vehicle Credits (IAS 37 Provisions, Contingent Liabilities and Contingent Assets)—Agenda Paper 4
Special Purpose Acquisition Companies (SPAC): Classification of Public Shares as Financial Liabilities or Equity (IAS 32 Financial Instruments: Presentation)—Agenda Paper 5
Transfer of Insurance Coverage under a Group of Annuity Contracts (IFRS 17 Insurance Contracts)—Agenda Paper 7

Other matters

Consolidation of a Non-hyperinflationary Subsidiary by a Hyperinflationary Parent (IAS 21 The Effects of Changes in Foreign Exchange Rates and IAS 29 Financial Reporting in Hyperinflationary Economies)—Agenda Paper 2
Work in Progress—Agenda Paper 8

Addendum to IFRIC Update—Committee’s agenda decisions

Negative Low Emission Vehicle Credits (IAS 37 Provisions, Contingent Liabilities and Contingent Assets)—Agenda Paper 4
Special Purpose Acquisition Companies (SPAC): Classification of Public Shares as Financial Liabilities or Equity (IAS 32 Financial Instruments: Presentation)—Agenda Paper 5
Transfer of Insurance Coverage under a Group of Annuity Contracts (IFRS 17 Insurance Contracts)—Agenda Paper 7