(2)On 20 July 2006, the International Financial Reporting Interpretations Committee (IFRIC) published IFRIC Interpretation 10 Interim Financial Reporting and Impairment , hereinafter ‘IFRIC 10’. IFRIC 10 clarifies that impairment losses on goodwill and certain financial assets (‘available for sale’ equity investments and unquoted equity instruments measured at cost) that are recognised in an interim financial statement must not be reversed in subsequent interim or annual financial statements. The interpretation was required due to an apparent conflict between the requirements of International Accounting Standard (IAS) 34 Interim Financial Reporting and those in IAS 36 Impairment of assets, and the impairment provisions related to certain financial assets in IAS 39 Financial instruments: Recognition and measurement.