SOCPA Shares Its Perspective on Several IFRS IC Tentative Agenda Decisions

The Saudi Organization for Chartered and Professional Accountants (SOCPA) has shared its views on several tentative agenda decisions issued by the IFRS Interpretations Committee (IFRS IC). The IFRS IC published a tentative agenda decision regarding a query on the disclosure of revenues and expenses for reportable segments. Represented by the Accounting Standards Board, SOCPA expressed its perspective, confirming its agreement with the IFRS IC’s approach that the relevant standards sufficiently address how to disclose reportable segments following the management approach used in IFRS 8.

 

Additionally, SOCPA provided its perspective on the IFRS IC's tentative agenda decision regarding climate-related commitments and whether future commitments create a constructive obligation for the entity. SOCPA supported the IFRS IC’s view that the facts presented in the query do not establish a constructive obligation under IAS 37.

 

SOCPA's comments on the IFRS IC tentative agenda decisions can be accessed as follows:

- Disclosure of revenues and expenses for operating segments (here).

 

- Climate-related commitments and whether future commitments create a constructive obligation for the entity (here).