How Effective is the IFRS Interpretations Committee?

The IFRS Foundation Trustees’ Due Process Oversight Committee is carrying out a review of the Interpretations Committee (formerly known as IFRIC) in order to assess its effectiveness.

 

The IFRS Interpretations Committee is the interpretative body of the IASC Foundation. Its mandate is to review on a timely basis widespread accounting issues that have arisen within the context of current International Financial Reporting Standards (IFRSs). The work of the Interpretations Committee is aimed at reaching consensus on the appropriate accounting treatment (IFRIC Interpretations) and providing authoritative guidance on those issues.

 

The review is being conducted by means of a questionnaire which has been designed to help the trustees assess the effectiveness of the Interpretations Committee.

 

Once the trustees have completed their review of the Interpretations Committee, they will publish a report of their conclusions. The trustees expect to do this in the first half of 2011. This will be available on this website and will be sent to everyone who participated in the Interpretations Committee review.

 

 

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