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what is the main function of the reporting interpretations committe?
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Updated 2/16/2010 2:53:12 PM
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The International Financial Reporting Interpretations Committee interprets the application of International Financial Reporting Standards (IFRSs) and provides timely guidance on financial reporting issues not specifically addressed in IFRSs or IASs, in the context of the IASB's framework, and undertakes other tasks at the request of the Board. IFRIC publishes draft Interpretations for public comment and considers comments made before finalising an Interpretation. When the IFRIC has reached a consensus on a final Interpretation, the Interpretation is submitted to the IASB Board for approval.
Added 2/16/2010 2:53:12 PM
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