IFRS Interpretation
The IFRS Interpretations Committee works with the IASB to support consistent application and develops interpretations through due process; the IASB approves interpretations. Some SIC Interpretations issued by the predecessor Standing Interpretations Committee remain applicable unless withdrawn or superseded. An agenda decision is a different type of publication and should not automatically be treated as an IFRIC Interpretation. Check the particular interpretation’s status and exam-period examinable list.
Worked example
An entity encounters a transaction addressed by an applicable IFRIC Interpretation. It considers the interpretation together with the related accounting standard when determining its accounting policy.
Common mistake
Assuming every IFRIC agenda decision is itself an IFRS Interpretation, or claiming all older SIC Interpretations have automatically ceased to apply.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | FR | Supporting | September 2026–June 2027 |
| ACCA | SBR | Supporting | September 2026–June 2027 |