Global Standards for the world economy

Monday 01 March 2021

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 Propose an agenda item

Any individual or organisation may put forward suggestions of potential agenda items for consideration by the IFRS Interpretations Committee. In considering whether to put forward suggestions, all parties should consult the ‘Identification of Matters’ section (paragraphs 5.14 to 5.22) of the IASB and IFRS Interpretations Committee Due Process Handbook.

Anyone doing so is asked to submit a brief proposal, which will be presented to the Interpretations Committee without identifying the submitter.

The proposal should include the following:

  1. The issue. A description of the issue including, where relevant, any aspects that should be addressed separately.
  2. Current practice. A brief description of current or emerging accounting practices, outlining the major alternatives, and referring to the relevant IASB pronouncements.
  3. Reasons for the Interpretations Committee to address the issue. The issue should be evaluated using the following criteria:
  • Is the issue widespread and has, or is expected to have, a material effect on those affected?
  • Would financial reporting be improved through the elimination , or reduction, of diverse reporting methods?
  • Can the issue be resolved efficiently within the confines of IFRSs and the Conceptual Framework for Financial Reporting?
  • Is the issue sufficiently narrow in scope that the Interpretations Committee can address this issue in an efficient manner, but not so narrow that it is not cost-effective for the Interpretations Committee to undertake the due process that would be required when making changes to IFRSs?
  • Will the solution developed by the Interpretations Committee be effective for a reasonable time period? The Interpretations Committee will not add an item to its agenda if the issue is being addressed in a forthcoming Standard and/or if a short-term improvement is not justified.


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