The primary responsibility for identifying issues to be considered by the IFRS Interpretations Committee lies with its members and appointed observers.
Preparers, auditors and others with an interest in financial reporting are encouraged to refer issues to the Interpretations Committee when they believe that divergent practices have emerged regarding the accounting for particular transactions or circumstances or when there is doubt about the appropriate accounting treatment and for which it is important that a standard treatment should be established.
An issue may be put forward by any individual or organisation (see Propose an agenda item).
The source of a suggested agenda item is not revealed to the IFRS Interpretations Committee or to others.
A consensus of the Interpretations Committee has general applicability. The Interpretations Committee does not resolve issues that are specific to the circumstances of a particular entity.
The IASB staff assess the issue and prepares an analysis concerning the scope of the issue and whether it meets the agenda criteria. The staff may seek input from members of the IASB, Interpretations Committee and other knowledgeable parties. |