The definition of the term "interim financial report" in paragraph 4 of IAS 34 is not sufficiently clear with respect to whether the "interim financial report" covers only the information reported under IFRS (meaning the IFRS interim financial statements) or more generally also includes management reports or other elements.
The Interpretations Committee tentatively decided to propose amendments to paragraph 16A of IAS 34, through Annual Improvements process which is expected to be included in the 2012-2014 cycle, to clarify the meaning of disclosure of information "elsewhere in the interim financial report" and to require the inclusion of a cross-reference from the interim financial statements to the location of this information.
At its May 2013 IASB meeting, the IASB discussed the proposal made by the Interpretations Committee to amend paragraph 16A of IAS 34. The IASB agreed with the Interpretations Committee’s recommendation.
In May 2014, the Interpretations Committee considered the comments received on the ED and recommended that the IASB should finalise the proposed amendment to IAS 34.
At its June 2014 meeting, the IASB tentatively decided to finalise the proposed amendment to IAS 34.
At its July 2014 meeting the IASB agreed that all the required due process steps have been complied with.