IFRIC 5 addresses how an entity accounts for its interests in a fund established to decommission assets or to perform environmental restoration or rehabilitation. It also addresses how the entity accounts for any rights to receive reimbursements from such funds and any obligations to make potential additional contributions.
In December 2004 the International Accounting Standards Board issued IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds. It was developed by the Interpretations Committee.
Other Standards have made minor consequential amendments to IFRIC 5. They include IFRS 10 Consolidated Financial Statements (issued May 2011), IFRS 11 Joint Arrangements (issued May 2011), IFRS 9 Financial Instruments (Hedge Accounting and amendments to IFRS 9, IFRS 7 and IAS 39) (issued November 2013), IFRS 9 Financial Instruments (issued July 2014) and Amendments to References to the Conceptual Framework in IFRS Standards (issued March 2018).