ASCG submits comment letter regarding IFRIC DI/2015/2

Today, the ASCG has submitted its comment letter regarding the Draft Interpretation DI/2015/2 Foreign Currency Transactions and Advance Consideration to the IFRS Interpretations Committee as well as to EFRAG.
Overall, the ASCG agrees with the consensus proposed in the Draft Interpretation but notes that the ‘one-transaction’ approach the consensus proposed in the Draft Interpretation is based on is but one possible reading of the principles in IAS 21 The Effects of Changes in Foreign Exchange Rates the Draft Interpretation refers to. As regards the effective date, the ASCG recommends considering aligning the Draft Interpretation with the effective date of IFRS 15 Revenue from Contracts with Customers in order to minimise any implementation costs.
Comment letter to IFRS IC/ to EFRAG.