• Accounting Alert November 2020

Agenda decisions published by IFRS Interpretations Committee (IFRIC)

The IFRS Interpretations Committee (Interpretations Committee) works together with the IASB in supporting the consistent application of IFRS Standards.

One way it does this is by issuing agenda decisions on application issues brought to their attention from constituents.

The IFRIC will determine whether an item is:

  1. widespread and expected to have a material effect, which will necessitate a change to IFRS standards through the standard setting process; or
  2. whether standard setting is not required to deal with a question received.

In relation to items in (2), the IFRIC publishes agenda decisions explaining the reasons.

Agenda decisions often include explanatory material which explains how the applicable principles and requirements in IFRS Standards apply to the transaction or fact pattern described in the agenda decision.

Tier 1 and Tier 2 for-profit entities when applying NZ IFRS should consider the explanatory material in agenda decisions when the fact pattern described in the agenda decision is relevant to a specific transaction, event, or condition being accounted for by the entity.

Although agenda decisions reflect existing requirements in Standards, they may provide new information (for example, by integrating requirements in the Standards with material in the Basis for Conclusions or Illustrative Examples). Consideration of the explanatory material in agenda decisions may lead an entity to change its accounting policies.

Agenda decisions can be searched by date or issuance or by IFRS standard number. You can access the IFRIC agenda decisions here:

A compilation of the most recent IFRIC agenda decisions from  the period April 2020 to September 2020  is available here. These decisions relate to IFRS 16 Leases, IAS 12 Income Taxes and IAS 38 Intangible Assets.


For more on the above, please contact your local BDO representative.