The International Accounting Standards Board (IASB) announced on November 14, 2006, that the International Financial Reporting Interpretation Committee (IFRIC)  and IASB update edition is now available on the IASB website.

IASB is committed to developing in the public interest a single set of high quality global accounting standards.

IFRIC’s principal role is to consider, on a timely basis within the context of International Financial Reporting Standards and the International Accounting Standards Board (IASB) Framework, accounting issues that are likely to receive divergent or unacceptable treatment in the absence of authoritative guidance, with a view to reaching consensus on the appropriate accounting treatment.

For more information please visit the following website: www.iasb.org