Applicability of the offsetting amendments to IFRS 7 to condensed interim financial statements (paragraph 44R) (paras. BC72B-BC72C)

BC72B The Board was asked to clarify the applicability of the amendments to IFRS 7 Disclosure-Offsetting Financial Assets and Financial Liabilities (the 'amendments to IFRS 7 concerning offsetting'), issued in December 2011, to condensed interim financial statements. It was asked to clarify the meaning of the reference to 'interim periods within those annual periods', used in paragraph 44R of IFRS 7. There was uncertainty about whether the disclosures required by paragraphs 13A-13F and B40-B53 of IFRS 7 were required to be included in condensed interim financial statements prepared in accordance with IFRS and, if so, whether those disclosures should be presented in every set of condensed interim financial statements, or only in those interim financial statements presented in the first year in which the disclosure requirements are effective or for which disclosure would be required under the principles in IAS 34 Interim Financial Reporting.

BC72C The Board noted that IAS 34 was not cons

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