IFRS- Interpretation committee — OpenTuition Forums

HHamsi4y ago

Hi sir, Which of the following is NOT a duty of the IFRS Interpretations Committee? a. To interpret the application of International Financial Reporting Standards b. To work directly with national standard setters to bring about convergence with IFRS c. To provide guidance on financial reporting issues not specifically addressed in IFRSs d. To publish draft interpretations for public comment The given answer is b. I have studied a, b and c are Duties of interpretations committee. d is the duty of IFRS advisory council. Could you kindly advice me on this please?

P2-D2Tutor4y ago#1

Hi, Where has the question come from? Thanks

HHamsi4y ago#2

Hi sir, This is from 1st question of FR practice Exam 1 in ACCA CEB platform.

HHamsi4y ago#3

Apologies sir, According to BPP a,b,c- Interpretation Committee d- IASB b- is also kind of IASB since they involve in the development of discussion papers and Exposure draft .IASB liaison members work with national standard setters to promote convergence of IFRS standards. My concern is where should I categorise b and d (IFRS interpretation committee or IASB) Thanks

P2-D2Tutor4y ago#4

Hi, I'd stick with what you have seen in the answer to the question as it is correct what is stated. Thanks

Mmhkd3y ago#5

The IFRS Interpretations Committee It has the following roles: 1 Interpret the application of IFRSs 2 Provide timely guidance on ?nancial reporting issues not speci?cally addressed in IFRSs 3 Publish draft Interpretations for public comment Thus, you're correct

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