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IFRS- Interpretation committee

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › IFRS- Interpretation committee

Viewing 5 posts - 1 through 5 (of 5 total)
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    Posts
  • March 3, 2022 at 5:12 pm #649748
    Hamsi
    Participant
    • Topics: 5
    • Replies: 10
    • ☆

    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?

    March 3, 2022 at 7:35 pm #649761
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6473
    • ☆☆☆☆☆

    Hi,

    Where has the question come from?

    Thanks

    March 3, 2022 at 9:37 pm #649775
    Hamsi
    Participant
    • Topics: 5
    • Replies: 10
    • ☆

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

    March 5, 2022 at 9:28 pm #649945
    Hamsi
    Participant
    • Topics: 5
    • Replies: 10
    • ☆

    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

    March 8, 2022 at 9:24 am #650197
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6473
    • ☆☆☆☆☆

    Hi,

    I’d stick with what you have seen in the answer to the question as it is correct what is stated.

    Thanks

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