IFRS Talks - PwC's Global IFRS podcast June 2026: IFRS IC update
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Jun 29, 2026 
Gary Berchowitz, PwC partner and IFRS Interpretations Committee member, offers expert commentary on June 2026 technical discussions. He highlights IFRS 18 topics ahead of the 2027 effective date. Short segments cover hypothetical adjustments, labeling and faithful representation, mixed presentation of expenses, classification of cash for businesses that invest, and power attribution in single-investor funds.
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Hypothetical Adjustments Can Be MPMs
- An MPM can include hypothetical adjustments and still meet the definition if it purports what management says it does.
- Examples: constant currency recasts or "no-COVID" adjustments are allowable, but faithful labelling and description are critical to avoid misleading users.
Label And Describe MPMs Faithfully
- Label MPMs so the label plus the note description together faithfully represent the measure's characteristics.
- Avoid vague labels like "net profit excluding the effects of major crisis" because regulators said such labels can be misleading.
Confidential Investor Slides May Not Be Public
- Do not assume investor pitch materials under NDA are public communications for IFRS 18.
- The Committee concluded genuinely confidential, restricted presentations under NDAs to a small closed group are not public communications.