The Committee discussed the issues in the September 2011 meeting. At that meeting, the Committee asked the staff to do further analysis on these issues with the aim of assessing whether the issues could be solved through the annual improvements process.
At the November 2011 meeting, the staff presented to the Committee possible amendments to IAS 7. The Committee noted that the matters involved are relevant to circumstances other than business combinations and therefore the issue is too broad to be solved through the annual improvement process. Consequently, the Committee decided to propose that the Board should not add this issue to the Annual Improvements project.