IFRS Section - Doing Business
You will find here a series of summaries providing an overview of useful IFRS regulations, processes and IFRS issues for Doing Business in Thailand.
IASB and ISSB update – September 2022
In September 2022, the IASB issued amendments to IFRS 16 on leases to clarify the subsequent measurement of a lease liability arising from sale and leaseback transactions where the lease payments are variable and not dependent on an index or rate. As requested by stakeholders, the IASB has ultimately provided no clarification on how to measure the proportion of the seller-lessee's retained interest in the asset.
New appointment to IFRS Interpretations Committee
On 15 July, the IFRS Foundation announced the appointment of Ms Yanli Liu to the IFRS Interpretations Committee (IFRS IC). She replaces Zheng Yang, whose second and final term ended on 30 June 2022.
IASB publishes work plan priorities for 2022-2026
Redeliberations continue on Primary Financial Statements project
At its July 2022 meeting, the IASB continued its redeliberations on the proposals in the December 2019 General Presentation and Disclosures exposure draft, in the wake of comments received from stakeholders.
IFRS IC agenda decision on SPACs: classification of public shares as financial liabilities or equity
In July 2022, the IFRS IC published a final agenda decision (available here and now approved by the IASB) on whether public shares issued by a SPAC (Special Purpose Acquisition Company) should be classified as financial liabilities or equity. A SPAC is an ad hoc entity created by its founders to raise capital through an initial public offering, for the purposes of acquiring a target company within a time frame specified from the outset (e.g. 18 months).